Oncology Care, Health Industry Updates and More in the News This Week
Oncology care takes front and center this week with reports from the CMS on patient care, support for approval of several biosimilar drugs, and a complimentary seminar from the FDA coming up on November 13th. This and more in this week’s Innovation Partners BioBlog.
Participants in the CMS Oncology Care Model believe the experience has been positive. Among the 17 health insurers and 196 physician groups participating in the five-year pilot, the majority believe that it promoted high-quality care. The OCM is focused on providing better cancer care and coordination of services for Medicare fee-for-service (FFS) beneficiaries, as well as other payers, but at a lower cost. Nearly all types of cancer are included in the pilot.
CVS hunted long and hard for a deal partner, according to a new Wall Street Journal report. The pharmacy chain spent a long time searching for the right partner. The move highlights how healthcare companies are seeking to broaden their services, putting all services under one roof as a means of improving revenues and services for customers.
A new report published in Lancet Oncology outlines an ambitious new model for cancer drug discovery and development, but is it feasible? The U.S. Cancer Moonshot outlined a proposal for improvements in the treatment and care of cancer patients, but it will take a big shift in the current approach to meet the ambitious goals. The report outlined proposed changes in data sharing and collaboration, increased and expanded patient access to clinical trials, and expanding cancer care to underserved groups including children and minorities.
This past July, the Oncologic Drugs Advisory Committee (ODAC) voted unanimously to recommend approval of Amgen Inc. and Allergan plc.’s ABP 215. These drugs are biosimilar of Genentech Inc.’s Avastin (bevacizumab), and Mylan GmbH and Biocon Ltd.’s MYL-1401O, a biosimilar of Herceptin (trastuzumab), also from Genentech, a Roche Group company.
U.S. Accounts for 46% of Global Oncology Drugs, Supportive Care Costs (with Chart: Global Oncology and Supportive Care Costs US$Bn)
The QuintilesIMS Institute reported that in 2016 the global costs of oncology care and medications totally $113 billion, up $107 billion from the previous year. This year’s costs are anticipated to exceed $147 billion. The U.S. accounted for 46% of the costs.
Rising costs, combined with the reduction of payments to insurers for low-income people under the ACA, are creating uncertainty for individuals who pay out of pocket for health insurance coverage. This includes early retirees, who aren’t yet eligible for Medicare but no longer obtain health insurance coverage through an employer.
The U.S. Food and Drug Administration Oncology Center of Excellence will convene a meeting on November 13, 2017 to provide complimentary training on the role of the FDA and patient advocates in oncology product development. ASCO, the American Association for Cancer Research (AACR), and the American Society of Hematology (ASH) are all supporters of the meeting.