Copenhagen, Denmark, November 4, 2019 - Lydion Research is presenting a conceptual model to enable novel pharmaceutical pricing and contracting at the ISPOR Europe conference in Copenhagen, Denmark. The model uses new technology approaches, including distributed databases and encrypted data signatures to allow for the coordination of sensitive health and financial data among separate sites, to facilitate the management and adjudication of pharmaceutical outcomes-based agreements while remaining compliant with regulatory standards such as GDPR (EU General Data Protection Regulation).
“A hurdle for novel pharmaceutical contracting is that few solutions exist to scale such agreements while preserving data privacy and control to a high standard,” said Jennifer Hinkel, MSc, Principal at Lydion Research and lead author of the abstract. “Our model automates contract management and adjudication while maintaining compliance with data privacy regulations, even across numerous sites, such as different hospitals, insurers, or government payers. Wide-scale deployment of novel contracts would likely improve patient access to medicines while containing costs, which is a pillar of the move towards value-based health care in Europe and the rest of the world.”
The model for this new approach uses encrypted data signatures across a private, distributed architecture, to preserve data privacy and allow for trust among stakeholders via auditable signature trails. The poster, entitled Proposing and Evaluating a Design for GDPR-Compliant, Scalable Technology for Automatic Adjudication of Risk-Sharing Agreements, will be viewable throughout the morning of 4 November 2019 during the conference’s first poster presentation session at the Bella Center, Copenhagen.
“We’re very excited to share the potential of our research with the broader ISPOR community”, says Arka Ray, Managing Director, Lydion Research. “We look forward to sharing the results from the implementations of this model through Risk Sharing Agreements with European Payers and Manufacturers.”
The methodology presented in this model has the potential to reduce the operating cost of novel pricing agreements in the EU significantly, as well as to provide a means for users to preserve the privacy of sensitive data. Full abstract information can be found here.
About the Lydion Research Alliance:
The Lydion Research Alliance is a consortium of scientists, engineers, economists, technologists, artists, and futurists dedicated to the advancement of the scientific field of Data Economics and the commercialization of Data Economic technologies.