reference pricing

reference pricing

(prīs′ĭng)
A method of health care cost control in which the cost of all items in a class of roughly equivalent products or services is reimbursed at a fixed dollar amount. Patients or providers who seek care that is more expensive than the reference price pay additional fees. Those who agree to use standard services are reimbursed in full for the products or services they receive.
References in periodicals archive ?
The Government is planning to establish a reference pricing system for medicines to cure cardiovascular disease, diabetes type II and asthma, thereby reducing prices for medicinal products in Ukraine from 1 January 2017.
The introduction of reference pricing will aid in improving medicine affordability and accessibility, driving increased demand, while changes to medicine registration will reduce market access barriers.
They can benchmark pricing strategies of competitors, determine pricing trends globally, forecast potential price drops, gain knowledge about the impact of international reference pricing, and easily view standardized data.
In a reference pricing system, the insurer agrees to pay a set amount for a specified health care service.
Nonetheless, the departments of Labor and Health and Human Services said the practice -- known as reference pricing -- could continue.
e OFT said the retailers conrmed their commitment to using genuine reference prices and - without any admission of liability - made changes to their reference pricing practices.
It found "systematic" examples of artificially inflated reference pricing within the industry, through the use of "was" prices formerly charged by the retailer, "after sale" prices that the trader intended to charge in the future, or recommended retail prices (RRPs) set by the manufacturer.
Reference pricing is largely used with pharmaceuticals, but 4% said they use it for lab services and the same proportion do so for imaging.
This system of international reference pricing inhibits access to essential pharmaceuticals in underdeveloped countries and decreases pharmaceutical innovation and equitable research and development cost-sharing between developed countries.
The idea behind reference pricing is relatively straightforward.
Although we know a lot about the reference price construct, there are fruitful areas for doing additional research on reference pricing.
Pharmaceutical brand teams design their global launch sequencing strategies to mitigate the risks associated with reference pricing, a top challenge at many drug companies, according to a new study by Cutting Edge Information.