MEDICAL
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As health-care costs mount, government and private insurers are becoming more particular about what kinds of new drugs they will pay for.
In the past, it was enough to know whether a new drug was safe and effective at curing a specific ailment. Now they also want to know if the cure will significantly improve the patient’s life and produce cost savings. Will the patient, for instance, be able to return to work earlier?
To answer those questions for the reimbursement community, the Institute for Biological Research and Development in Irvine has entered a joint marketing agreement with Health Data Resources in Providence, R.I.
IBRD designs tests to measure the safety and effectiveness of new drugs and medical devices for pharmaceutical and biotechnology companies. Health Data Resources is expert in assessing the quality of life and cost-savings benefits of drugs and medical devices, said F. Richard Nichol, chief executive officer and president of IBRD.
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