Inpharmation’s international reference pricing solutions are powered by Flexi-IRP’s international reference pricing rules database; a global source of comprehensive reference pricing information.
Since the development of reference pricing in 1989 and its spread around Europe and now the globe, internal and international reference pricing algorithms have become increasingly complex. It is no longer possible to represent all referencing methodologies using a simple matrixed approach.
Inpharmation’s international reference pricing rules database has the granular detail needed for accurate international reference pricing analysis:
- 33 different types of reference pricing methodology: covering over 3540 bits of reference pricing information applied with product-category specificity.
- Covering a system of >90 countries: to make sure your forecasts are based on full-system data, where possible sourced directly from national health agencies.
- Expert-lead analysis: combines the insights from multiple independent data sources. In markets where no structured data exists, our experts use multiple data sources to provide best-practice based estimates.
Scale of countries included in the international price referencing database included in your Flexi-IRP subscription.
- Regular updates: calendar scheduled updates based on the revisions to routine pricing and reimbursement rules of selected countries ensure our international reference pricing database reflects current data. In addition, ad-hoc changes are captured by Inpharmation’s daily pharma newswire scans.
- A low-risk and trusted solution: Inpharmation’s reference pricing rules database has evolved to meet the requirements of the global pharma industry.
- The most adaptable solution: integrating the reference pricing database into your workflow is incredibly simple; all information can be automatically transferred into your tool and country-specific data can be reorganized and displayed according to your regional preferences.
Pieces of reference pricing information Inpharmation can draw upon for international price referencing analysis.
“Inpharmation's approach to IRP offers an intuitive and comprehensive approach to modelling the complexities of the IRP environment. Their tool enables rapid "what-if" scenario analyses that simply could not be investigated without such a tool.
From the results we have been able to develop a number of informed strategies that have significantly reduced the impact of price erosions across Europe.”
Director Trade and Pricing, Top-20 pharmaceutical company
Evidence-based international reference pricing
For the past two decades, Inpharmation has championed an approach to strategic international reference pricing analysis that is built upon a solid evidence-base. This means that all Inpharmation’s reference pricing solutions are based upon:
- The latest international and internal reference pricing methodologies being actively applied.
- Independently-sourced reference pricing data, with direct inputs from national health agencies where available.
- Principles that are actively being applied to minimize price erosion in the real-world forecasts for top-50 pharma companies.