Framework for Demonstrating the Value of Medical Innovation

June 5, 2019

BioNJ, the life sciences trade association for New Jersey, is delighted to release the white paper, A Framework for Demonstrating the Value of Medical Innovation.” This white paper came to fruition as a result of BioNJ’s Beyond Value Frameworks: Defining the Value of Medical Innovation workshops. With nearly 3,300 life sciences establishments, including 12 of the world’s largest biopharmaceutical companies, having a headquarters or significant presence in the Garden State, New Jersey’s life sciences ecosystem was responsible for more than 40% of all new novel FDA drug approvals over the last two years – more than anyplace else in the world. It is crucial for patients to have access to this life-changing medical innovation. However, under current benefit designs, patients often don’t have access to the right medicines at the right time. The current paradigm frequently assumes a “one size fits all approach. As a result, innovator companies need to provide more information and insights to overcome these barriers to access. This white paper, authored by Shailja Dixit, M.D., M.S., M.P.H., President & Founder, ApexBio and Robert Goldberg, Ph.D., Vice President & Founder, Center for Medicine in the Public Interest, outlines a framework for assessing the true value of the innovation and identifies steps that innovator companies can take to demonstrate Differential Value of their innovation.

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HealthONE

HealthONE is the largest healthcare system in the metro Denver area with more than 10,000 employees. As part of the HealthONE family, The Medical Center of Aurora, North Suburban Medical Center, Presbyterian/St. Luke’s Medical Center, Rocky Mountain Hospital for Children, Rose Medical Center, Sky Ridge Medical Center, Swedish Medical Center, and Spalding Rehabilitation Hospital work together to provide a higher level of care. In addition, our family of services includes six hospital free-standing emergency departments and numerous ambulatory surgery centers, occupational medicine clinics, physician practices, imaging centers, and AIRLIFE-DENVER, which provides critical care air and ground transportation across a 10-state region.

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