IDEAS home Printed from https://ideas.repec.org/a/spr/pharme/v35y2017i10d10.1007_s40273-017-0536-y.html
   My bibliography  Save this article

Availability and Pricing New Medicines in Ireland: Reflections and Reform

Author

Listed:
  • Paul K. Gorecki

    () (Trinity College Dublin
    Economic and Social Research Institute)

Abstract

This paper argues that the current method of determining the availability and pricing of new medicines for public reimbursement in Ireland likely results in too large a share of public healthcare expenditure allocated to medicines. Resources are misallocated. Welfare is lowered. In contrast to some other areas of public healthcare, patients exercise ‘voice’ rather than ‘exit’ concerning the public provision of high-cost new medicines. Setting publicly agreed cost-effectiveness thresholds, with clear predictable criteria for when the cost-effectiveness thresholds can be exceeded, would contribute to the creation of a more appropriate new medicine decision-making framework. It would incentivise suppliers to set prices consistent with the decision-making framework. Guidance and clarity raises the possibility of shielding the Health Service Executive, the decision maker, at least partially, from the pressure to fund expensive new medicines that lack cost-effectiveness, while at the same time increasing transparency and predictability.

Suggested Citation

  • Paul K. Gorecki, 2017. "Availability and Pricing New Medicines in Ireland: Reflections and Reform," PharmacoEconomics, Springer, vol. 35(10), pages 981-987, October.
  • Handle: RePEc:spr:pharme:v:35:y:2017:i:10:d:10.1007_s40273-017-0536-y
    DOI: 10.1007/s40273-017-0536-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40273-017-0536-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Laura McCullagh & Michael Barry, 2016. "The Pharmacoeconomic Evaluation Process in Ireland," PharmacoEconomics, Springer, vol. 34(12), pages 1267-1276, December.
    2. Brick, Aoife & Gorecki, Paul K. & Nolan, Anne, 2013. "Ireland: Pharmaceutical Prices, Prescribing Practices and Usage of Generics in a Comparative Context," Research Series, Economic and Social Research Institute (ESRI), number RS32, January.
    3. Gorecki, Paul K. & Nolan, Anne & Brick, Aoife & Lyons, Seán, 2012. "Pharmaceuticals Delivery in Ireland. Getting a Bigger Bang for the Buck," Research Series, Economic and Social Research Institute (ESRI), number RS24, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:pharme:v:35:y:2017:i:10:d:10.1007_s40273-017-0536-y. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Springer Nature Abstracting and Indexing). General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.