PhRMA - Pharmaceutical Research and Manufacturers of America

11/05/2024 | News release | Distributed by Public on 11/05/2024 12:10

Reimagining patient access through meaningful policy reform

There are so many inspirational people working to improve our health care system. From advancing health equity through improved clinical trial diversity to innovative ways to recognize the role of caregivers to using new technologies to prevent disease and find treatments, incredible work is happening across the health spectrum.

I was reminded of this at TIME100's Health Leadership Forum, where I spoke about how we can improve patient access to the medicines they need.

I shared the stage with Dr. Ziyad Al-Aly, director of the Clinical Epidemiology Center and chief of the Research and Education Service at the VA St. Louis Healthcare System and Dr. Raj Panjabi, senior partner at Flagship Pioneering and former White House senior director and special assistant to President Joe Biden, as we explored policy changes that could improve medicine development, lower medicine costs and increase patient access.

Here are 3 takeaways from the discussion:

  1. Groundbreaking innovation requires a supportive policy framework. Biopharmaceutical innovation is more promising than ever, but legislation like the Inflation Reduction Act's price-setting policies undermine, rather than support, the innovation ecosystem. Policymakers must prioritize reforms that allow patients to access new and lifesaving treatments.
  2. We need to prevent disease to lower health care costs. As an industry, we are dedicated to developing new treatments and cures, including one-time treatments and preventative vaccines. Through early treatment and prevention, we can lower the financial burden that patients face.
  3. We must address systemic barriers that prevent patients from accessing medicines. Improving clinical trial diversity and increasing accountability of PBMs to ensure discounts from manufacturers are passed on to patients are a few ways we can achieve just that.

Learn more about our conversation here.

Photo by Alex Aronson, TIME