Health Plans Brace For Cell And Gene Therapy Costs
The post Health Plans Brace For Cell And Gene Therapy Costs appeared on BitcoinEthereumNews.com. More than 70% of employers and health plans expect affordability of gene therapy for their health … More plan members and workers will be a “moderate or major challenge” over the next 2 to 3 years, a new report released April 28 by Pharmaceutical Strategies Group (PSG) says. getty Cell and gene therapies are breaking ground as life-saving treatments, but their six- and seven-figure price tags are an increasing worry for employers and healths, according to a new analysis. More than 70% of employers and health plans expect affordability of gene therapy for their health plan members and workers will be a “moderate or major challenge” over the next 2 to 3 years, according to a report released Monday at Asembia ASX25 in Las Vegas by Pharmaceutical Strategies Group (PSG). The analysis was based on responses from more than 230 health benefits executives from health plans, employers and unions. The report comes with up to a dozen new cell and gene therapies expected to launch on the U.S. market this year, PSG’s report said. Such therapies, which can “prevent or treat a disease by adding, replacing, or turning off genes,” come with high prices such as $475,000 for a treatment for acute lymphoblastic leukemia or more than $3 million for a treatment for hemophilia B. Yet despite the headline-grabbing costs of some of these new treatments, those picking up the tab for the bulk of the costs aren’t prepared for potential expenses to their budgets for healthcare. Even though 73% of plans expect cell and gene therapies to “pose a moderate or major financial challenge in the next 2–3 years, most express low confidence in their understanding of the financial impact,” PSG said in a statement accompanying its report. “What’s more, nearly 40% don’t currently use any financial protection product…
The post Health Plans Brace For Cell And Gene Therapy Costs appeared on BitcoinEthereumNews.com.
More than 70% of employers and health plans expect affordability of gene therapy for their health … More plan members and workers will be a “moderate or major challenge” over the next 2 to 3 years, a new report released April 28 by Pharmaceutical Strategies Group (PSG) says. getty Cell and gene therapies are breaking ground as life-saving treatments, but their six- and seven-figure price tags are an increasing worry for employers and healths, according to a new analysis. More than 70% of employers and health plans expect affordability of gene therapy for their health plan members and workers will be a “moderate or major challenge” over the next 2 to 3 years, according to a report released Monday at Asembia ASX25 in Las Vegas by Pharmaceutical Strategies Group (PSG). The analysis was based on responses from more than 230 health benefits executives from health plans, employers and unions. The report comes with up to a dozen new cell and gene therapies expected to launch on the U.S. market this year, PSG’s report said. Such therapies, which can “prevent or treat a disease by adding, replacing, or turning off genes,” come with high prices such as $475,000 for a treatment for acute lymphoblastic leukemia or more than $3 million for a treatment for hemophilia B. Yet despite the headline-grabbing costs of some of these new treatments, those picking up the tab for the bulk of the costs aren’t prepared for potential expenses to their budgets for healthcare. Even though 73% of plans expect cell and gene therapies to “pose a moderate or major financial challenge in the next 2–3 years, most express low confidence in their understanding of the financial impact,” PSG said in a statement accompanying its report. “What’s more, nearly 40% don’t currently use any financial protection product…
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