Syntax Health's new two-sided software-as-a-service solution allows payers and providers (as well as actuaries, network managers and analysts) to collaborate in creating a value-based contract.
By leveraging its large membership, Medicare could by embracing value-based contracting significantly influence the pharmaceutical market, pitting competing drugs against each other, or encouraging pharmaceutical makers to figure out ways to deliver drugs more cheaply.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Cell and gene therapies are offering patients potentially curative treatments for a growing scope of diseases. Insurance companies are trying to figure out how to pay for them. Industry consultants speaking at the HLTH conference offered some strategies they see payers taking to these new therapies.
Lyfegen, a startup that provides software for value-based drug contracting, recently raised $8 million in an oversubscribed Series A financing round. With the new funds, the company — which is based in Switzerland and New York — plans to expand its presence in the U.S., where drug costs are the highest in the world.
The funding round was led by American Family Ventures and brings the company’s total funds to $20 million. With the money, TCARE will grow its team and work to expand its offerings for its existing clients.
Value-based contracts covering the reimbursement of drugs and medical devices are slowly gaining acceptance. A panel at the MedCity News INVEST conference discussed the challenges and opportunities for these contracts, which aim to improve patient outcomes and control the cost of care.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
The contracts are complicated and full of risks for drug companies. But there's also a risk to steering clear of the arrangements -- reduced or restricted access to a company's medication.
CEO Tim Peck confirmed the news to CNBC, saying the company ran out of the cash it needed to continue to scale the business and was laying off roughly 100 employees.