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KMID : 1124020130290040201
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Korean Social Security Studies
2013 Volume.29 No. 4 p.201 ~ p.219
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Reference Pricing: case study and implication
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Lee Youn-Joo
Park Ji-Hyun
Shin Hyun-Ho
Ko Su-Kyoung
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Abstract
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Many cost-containment measures have been introduced in Korea to stabilize increasing pharmaceutical expenditure. Recent changes, such as a government-mandate price cut for generics and off-patent products in Korea, can be viewed as a stepping stone for a new policy such as reference pricing. The purpose of this study is to understand reference pricing in other countries and draw implication for Korea. A literature review was conducted on MEDLINE and EMBASE using ‘reference pricing’ and ‘reference price’ as keywords. We reviewed studies according to the established criteria. A hand search was conducted to include broader categories of studies and reports related to reference pricing. Reference pricing was adopted in many countries in order to control rapidly growing pharmaceutical expenditure. The system evolved differently over many years among markets depending on the healthcare system and pricing policies. In terms of market response, reference pricing had a huge impact on both the prescription behavior and price level in many countries. However, overall savings seemed to be moderate so the payers eventually came up with more comprehensive cost-containment policies either in addition to reference pricing or following the abolishment of it. Considerable portion of cost savings came from increased patient co-payments in some countries. It is unclear to tell whether the reference pricing system will be able to yield much savings to the government if it is introduced in Korea. More researches on the system`s implication to the stakeholders should be conducted to further study the effects of the system.
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KEYWORD
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Reference pricing, reference price, pharmaceutical expenditure, pharmaceutical policy
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