Many of these companies have implemented refund programs as a way to make payers and provider groups slightly more comfortable with their products’ high prices, according to the article.
Medical device companies that have launched refund programs include Stryker, Boston Scientific, Johnson & Johnson, Medtronic and Titan Spine.
In the pharmaceutical arena, Cigna has signed contracts with Amgen, Regeneron Pharmaceuticals and Sanofi for cholesterol-lowing drugs. Should real-world patient outcomes not match the results of clinical trials, the pharmaceutical companies have vowed to give Cigna a price discount on their product.
Employing a real-world clinical approach to medical devices and drugs gives manufacturers the opportunity to stand behind the performance and cost of their offerings.
More articles on supply chain management:
Washington, California file suit against Johnson & Johnson over vaginal mesh implants
Global interventional cardiology devices market to reach $11.2B by 2022
How RFID is revolutionizing the healthcare supply chain
