In the past, hospitals made money in China by marketing up drugs, devices, procedures, and doing many diagnostic tests. Those days are over. As mentioned in our previous newsletters, China’s Volume Based Procurement (VBP) has cut the reimbursements for many high priced... Read More
Reimbursement for medical devices in Japan is determined by functional pricing and foreign reference pricing. Every 2 years the Japanese government issues new medical device pricing in April. This year, the reimbursement for their foreign reference pricing formula will be reduced as... Read More
Multinational pharmaceutical firms are taking advantage of fledgling low-cost commercial insurance initiatives in China to more readily access the country’s vast and rapidly growing market for their products—and to price them more competitively. Under strict eligibility rules on pharmaceuticals and medical... Read More
The government of South Korea is beginning to offer insurance reimbursement for the use of several ultra high-priced drugs, a development that could be both lucrative for pharmaceutical companies and provide relief to Korean consumers. Pharmaceutical treatments, under review by Korea’s Health... Read More
Prices of drugs sold in China will drop by 61.7% on average this year, as the latest update to China’s National Reimbursement Drug List (NRDL) goes into effect. But while the price cut—the most significant slash since 2017 — is a blow... Read More
A raft of changes endorsed in December by Japan’s key policy-making body on drug and medical device pricing would reform the costs of healthcare products in ways designed to reward innovation and stabilize pricing and supply. But the reforms, set to go... Read More
Despite generally reduced medical insurance in Japan for medical devices, the Japanese government may increase coverage of some medical device software products in 2022. The Japanese medical device industry has proposed to the reimbursement arm of the PMDA – Central Social Insurance Medical... Read More
The latest round of negotiations between the Chinese government and pharmaceutical firms has yielded massive price cuts for consumers in the country on more than 65 new brand-name drugs in return for access to the second-largest pharmaceutical market in the world. The... Read More
Japan medical device reimbursements will generally go down slightly in 2022, but some new technologies with clear benefits will not. Discussions on reimbursement revisions in 2022 are being held by the Insurance Medical Material Special Subcommittee of the Central Social Insurance Medical... Read More
With software-driven therapeutic interventions for patient treatments known as digital therapeutics (DTx) beginning to make a mark in the world of patient care, the government of South Korea is beginning to lay the groundwork for the entrance of the technologies into its... Read More