Real World Evidence and the Behavioral Economics of Physician Prescribing

Abstract

The projections for the rising cost of health care have spurned robust dialogue from every sector of the healthcare economy [1,2] Among the many targets for cost control are specialty drugs distinguished clinically by their route of administration, synthesis or bioengineering, mechanism of action and cost itself [2]. This terminology likely originated from payers who designate these drugs for special attention not only because of price, but also the need for distinctive handling or particular patient monitoring [3]. Although there are examples of competition emerging to tamp down prices to more acceptable levels (e.g. pharmacy benefit manager negotiations for hepatitis C drugs), stakeholders (policy-makers, insurance carriers, and non-governmental groups such as ASCO) are seeking other market-based solutions [2].