We are pleased to publish our new report, “Value Added Medicines Report: Discussion document on the contribution of Value Added Medicines in Ireland”, which has been produced in conjunction with our sister organisation, Medicines for Europe.
The report outlines a range of important national and European policy recommendations that illustrate the important role that Value Added Medicines (VAMs) play in a wide range of benefits for patients and Healthcare Professionals – from ensuring better adherence and compliance, to keeping healthcare costs down by reducing the need for patients to be moved to expensive next line therapies.
The current Irish environment, and structure of reimbursement, does not allow the Irish government to harness these benefits, potentially saving costs and increasing patient care. We need a shift in mindset – from one that focuses purely on cost to an outlook that is centred around better outcomes for patients that takes a holistic look at the whole patient journey. Perhaps even more importantly, we need a new and simplified regulatory pathway for VAMs in Ireland.
That’s why all of us at Medicines for Ireland and within the Value Added Medicines Committee, welcome the opportunity to engage with key stakeholders on this important topic, and to begin the discussions around what a fit-for-purpose regulatory framework for VAMs may look like for Ireland. What’s clear is that we need a system that rewards innovation with appropriate incentives, whilst recognising the potential long-term value and savings that VAMs can bring to the State.