Blockchains, Formulary Evaluations and Health Technology Assessment

Area of Science:

• Health Technology Assessment
• Health Economics
• Blockchain Technology

Background:

• Current health technology assessment relies on manufacturer claims, often using unvalidated cost-per-QALY models.
• Formulary decision-making lacks real-time data for evaluating product claims and pricing.

Purpose of the Study:

• To explore the potential of blockchain technology in transforming health technology assessment for formulary decision-making.
• To introduce a platform for real-time evaluation of manufacturer claims, moving beyond traditional cost-per-QALY models.

Main Methods:

• Integrating blockchain technology with electronic medical records.
• Developing a claims assessment protocol for formulary submissions.
• Implementing real-time monitoring and evaluation of claims via patient blockchain membership.

Main Results:

• Blockchains offer a low-cost platform for evaluating manufacturer claims in real time.
• Claims evaluation can be completed within months, providing timely data to formulary committees.
• This approach replaces hypothetical cost-per-QALY models with a robust evidence base.

Conclusions:

• Blockchain technology presents a viable solution for enhancing the objectivity and efficiency of health technology assessment.
• Real-time claims evaluation through blockchain can lead to more informed and evidence-based formulary decisions.
• The adoption of blockchain can foster greater transparency and accountability in pharmaceutical pricing and market access.