The pharmacy industry has asked the question “What should be the new drug pricing benchmark?” This is really the wrong question. A better question… “What will show true costs in a complete and defensible way and appropriately protect private information?”
Introducing the Predictive Acquisition Cost® (PAC)
Drawing on our team’s expertise in developing commercially successful predictive analytics enabled solutions for many industries, including healthcare, we have designed what we believe can serve as a new drug-pricing standard for the pharmacy industry.
The PAC leverages the power of predictive analytics, marrying it with deep domain expertise, to deliver powerful and robust outputs to support drug pricing activity. Using various available factors associated with the cost of a drug, via a multi-dimensional predictive analytics model we can estimate the acquisition cost to within sufficient accuracy to support drug pricing activity. Our statistical model is trained to synthesize various known attributes into an overall estimation of acquisition cost.