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Collaboration, clinical evidence, data sharing and a focus on patient access are some of the critical things needed to provide those with cancer the best care while managing costs, say panelists at a session at the Pharmacy Benefit Management Institute’s annual meeting today in Orlando.
This will be even more critical as new targeted, innovative and costly drugs become available that extend the life of patients with cancer, said Simone Ndujiuba, Pharm.D., BCOP, senior principal clinical oncology pharmacist at Prime Therapeutics, during the panel discussion. “In 2024, the median annual price of a new-to-market drug was more than $400,000,” she said during the session.
This trend of higher costs associated with cancer treatment and care is expected to continue, and “we will start to see increases in insurance costs and, potentially, greater out-of-pocket spending for members,” she said.
Innovation is exciting and is pushing the boundaries of what is possible, said Kristen Ritchie, Pharm.D., VP of clinical operations at Vivid Clear Rx. “When we see these drugs, we talk about cure and groundbreaking or first of its kind,” she said.