The worth of prescribed drugs are a lot increased within the U.S. than in different nations. Some policymakers have claimed that worldwide reference pricing might be used to decrease the price of medicine within the U.S. As an illustration, the Decrease Drug Prices Now Act (HR 3) proposed setting the utmost negotiated worth Medicare would pay at 120% of the basket common of different developed nations. Additional, these costs can be made obtainable to the industrial well being plans as properly.
Worldwide reference pricing, nonetheless, has an extended historical past and has been pretty extensively adopted in numerous European nations. The precise mechanism by which worldwide reference pricing is applied, nonetheless, varies throughout nations.
A paper by Rand and Kesselheim (2021) conducts a panorama evaluation of how completely different nations (and US proposals) have or haven’t used worldwide reference costs to tell drug pricing. A useful abstract desk from that paper is reproduced under.