value-based pricing


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value-based pricing

A drug-pricing system to be introduced in the UK, which aims to price drugs according to the value they deliver to the patients. The system will only apply to the new branded (i.e., non-generic) drugs and will provide a series of maximum allowable prices based on the burden of the illness being treated, the social impact of the treatment, and whether the product is innovative enough to justify the cost.
References in periodicals archive ?
The psychology of value-based pricing comes into play when potential participants can judge a difference among programs.
"A true value-based pricing model requires a firm to determine the level of value delivered to each client," says De Pardo, "and an appropriate fee level based on this value.
* Value-based pricing makes multi-domain MDM financially feasible
Value-based pricing, I believe, is the way of the future."
The acquisition of the 10,000 square foot CLIA (Clinical Laboratory Improvement Act)-certified laboratory will provide IRIS more control over the commercialization of ProsVue(TM), including sales, marketing and communications programs and value-based pricing strategies.
* Value-based pricing. The idea is to offer a better quality product/service, and charge a lower price compared to your key competitors in your targeted markets, that is, offer better quality at the same price.
Step 3: Supporting your value-based pricing approach with customized optimization models.
New tools from the ProfitAccelerator[R] Digital Business Resources Collection also help customers successfully start and manage a digital print operation as well as develop value-based pricing for digital print jobs, all while increasing profits.
It recommended replacing the current PPRS, where companies can set the initial prices of drugs under a maximum level of profits, with a "patient-focused value-based pricing scheme".