Forbes reports on the growing clout of the Institute for Clinical and Economic Review (ICER). Sometimes referred to American’s ‘NICE’ a reference to the UK’s National Institute for Health and Care Excellence, they in fact do resemble each other in certain ways.
Both organizations seek to provide comprehensive clinical and economic reviews of medical technologies, endorse and utilize the Quality-Adjusted-Life-Year (QALY) in their cost effectiveness analyses and make recommendations to payers for drug prices. Industry sponsors have been critical of both organizations—pharma at times has challenged the underlying methodology used to establish recommended prices. Follow the link to the Forbes article for a full read. Drug pricing is undergoing severe societal pressure and readers should understand how ICER can influence markets.