Magellan Team Discusses 'Mortgage-like' Payments For Ultra-Expensive Gene Therapies | AMCP 2023
When asked for solutions in better managing expensive drug costs, Michelle Booth of Magellan suggests a "mortgage-like" payment that could help make these therapies, which are covered under medical benefits, more accessible and affordable. Because there aren't many gene therapies out there just yet in the market, there hasn't been much pressure in offering discounts through value-based contracts to patients. Though, more discussions on this initiative are happening, Andy Killpack also of Magellan, said in the second-part of a two part AMCP annual meeting video series.
When asked for solutions in better managing expensive drug costs, Michelle Booth, Senior Director of Specialty Clinical Solutions of Magellan suggests a "mortgage-like" payment model that could help make these therapies, which are covered under medical benefits, more accessible and affordable.
"I know there isn't one great mortgage-like payment out there, but we need to realize this needs to be tweaked over time," she said of the suggestion.
Related: Adeno-Associated Virus Gene Therapies in the Pipeline, Barriers to Existing Drugs and Solutions
There would need to be more prevelance on these gene therapy conditons and more drugs to be approved that are expensive to see some action. If the affordability issue continues to be a problem, that's when pivoting toward new options will be necesneces.
Because there aren't many gene therapies out there just yet in the market, there hasn't been much pressure in offering discounts through value-based contracts to patients. Though, more discussions on this initiative are happening, Andy Killpack, director of Specialty Clinical Solutions of Magellan, said.
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