IMPACT OF REFERENCE PRICING POLICY ON THE PHARMACEUTICAL SECTOR

IMPACT OF REFERENCE PRICING POLICY ON THE PHARMACEUTICAL SECTOR

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DOI:

https://doi.org/10.52340/jecm.2024.04.18

Keywords:

reference, pricing, impact, pharmaceutical sector

Abstract

The reference pricing reform was enacted in Georgia in 2023, affecting up to 6,000 medicines within one year. To assess the impact of this policy, a survey was conducted among pharmacists, doctors, and consumers. The study results indicate that regulating medicine prices is most effective when combining different methods tailored to the country's specific context. In the long term, it is recommended to implement full universal healthcare coverage. It is crucial to note that the risk associated with policy implementation is higher in countries lacking robust legal frameworks that support and strengthen the healthcare system. Developing and utilizing transparent health information systems are essential for the effective implementation, monitoring, and evaluation of pharmaceutical pricing and procurement policies. Although reference pricing can improve healthcare cost management and access to medicines, policymakers must carefully manage these schemes to prevent unintended consequences on pharmaceutical innovation and market dynamics.

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References

დიანა ნემსაძე. მედიკამენტებზე რეფერენტული ფასწარმოქმნა მოლდოვეთში: გამოცდილება, გამოწვევები.კავკასიის უნივერსიტეტი, ჯანდაცვის პოლიტიკა, ეკონომიკა და სოციოლოგია. (2022)

Ashish Kumar Kakkar. Pharmaceutical price regulation and its impact on drug innovation: mitigating the trade-offs. Taylor & Francis online. 189-192 https://doi.org/10.1080/13543776.2021.1876029 (2020)

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Nur Sufiza Ahmad, Mohd Makmor-Bakry, Ernieda Hatah. Drug price transparency initiative: A scoping review. Research in Social and Administrative Pharmacy.16(10) 1359-1369 https://doi.org/10.1016/j.sapharm.2020.01.002 (2020)

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Published

2024-09-07

How to Cite

SHASHIASHVILI, N., KVIZHINADZE, N., & GAPRINDASHVILI, M. (2024). IMPACT OF REFERENCE PRICING POLICY ON THE PHARMACEUTICAL SECTOR . Experimental and Clinical Medicine Georgia, (4), 64–66. https://doi.org/10.52340/jecm.2024.04.18

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