Value-Based Pricing in Latin America: How Far Away Are We?

Area of Science:

• Health Economics
• Health Policy
• Outcomes Research

Background:

• Latin America faces challenges in healthcare access and affordability due to high-cost technologies and aging populations.
• Universal coverage pressures necessitate innovative healthcare financing and pricing strategies.
• Traditional cost-control mechanisms are insufficient, driving interest in alternative pricing models like value-based pricing.

Purpose of the Study:

• To conceptualize key stakeholders' perceptions of value-based pricing in Latin America.
• To identify experiences, opportunities, and barriers related to implementing value-based pricing in the region.
• To inform health policy discussions on improving healthcare technology access and affordability.

Main Methods:

• The study is based on discussions from International Society for Pharmacoeconomics and Outcomes Research (ISPOR) Health Technology Assessment Council roundtables held in Latin America in 2017.
• Focus was on health technology assessment (HTA) best practices and regional experiences.
• Conceptualization of stakeholder perceptions regarding value-based pricing implementation.

Main Results:

• Stakeholders recognize the need for alternative pricing models due to rising healthcare costs and demand for universal coverage.
• Value-based pricing is considered a potential strategy to enhance the affordability and accessibility of healthcare technologies.
• Implementation faces perceived barriers, which require further investigation and stakeholder engagement.

Conclusions:

• Value-based pricing presents a promising avenue for addressing healthcare challenges in Latin America.
• Addressing stakeholder concerns and identifying facilitators are crucial for successful value-based pricing adoption.
• Further research and collaborative efforts are needed to navigate the complexities of implementing value-based pricing in the region.