Susan A. Cantrell on the Evolution of Value Frameworks
Value frameworks are one tool that can be used to inform the formulary decision-making process, but transparency in the development of these frameworks is important, said Susan A. Cantrell, RPh, CAE, CEO of the Academy of Managed Care Pharmacy (AMCP).
Value frameworks are mostly still in their infancy, but they are proliferating quickly. How do they need to evolve?
The issue of value frameworks certainly is an important one for our members. AMCP’s board just recently approved a policy statement called “Where We Stand on Value Frameworks,” and we see value frameworks as one of many tools that can be used to help inform the formulary decision-making process.
However, we know that as far as we’ve seen, there’s not one value framework out there that’s perfect and so as these value frameworks continue to evolve, one thing that’s important is that they follow principles that have been set out by other organizations—especially the National Pharmaceutical Council has done quite a bit of work in this area—and that they have transparency. One issue that our members have asked us to advocate for is that economic models that are used as the basis for value frameworks become publicly available so that users of these value frameworks can practice with those models, fill in their own data, and more importantly, understand how conclusions were drawn.
So, transparency, involvement of multiple stakeholder—including patients—are very important in the development of value frameworks. But I think most importantly, is that they’re one of many tools that can be used, not one so far is perfect, and there’s still much work to be done as they continue to evolve.