World Evidence, Pricing and Access Congress 2023

Over 1200 healthcare professionals attended the World Evidence, Pricing and Access Congress on 21st – 23rd March 2023 in Amsterdam, the Netherlands. As topics such as market access, pricing, big data, analytics, affordability, and medical devices were discussed, the Vamstar team also traveled to Amsterdam to show the attendees how we use AI to find tenders, map tenders with value and new ESG criteria, optimize for the price and gain real-time market intelligence, all on one platform.

Although the weather was cloudy and rainy, inside the RAI Congress Centre, people were bright and optimistic as the future of EPA was extensively discussed in panel discussions, presentations, and talks of 300+ speakers. Some of the many insights gained at the congress are highlighted in this blog.

Evidence

As healthcare systems and patient treatment are becoming more complex in aging populations, pricing is no longer seen as the single most crucial factor in procuring healthcare products and services. Instead, value-based procurement is becoming the driving force behind the tendering process. The price is still seen as a significant factor in procurement decisions. However, it needs to be viewed in a broader context to understand the optimal outcome for the buyers, the patients, the healthcare system, and society at large. 

Health-technology assessments (HTAs) are intended to bridge the worlds of medical researchers and healthcare decision-makers. HTAs include evaluating factors directly related to health technology, such as clinical evidence, product safety, and cost-effectiveness. At the same time, HTAs also pay attention to the indirect societal, legal, and ethical implications of the proposed intervention. 

Various speakers addressed using AI and machine learning to predict clinical safety risks. HTAs being strengthened by AI to predict outcomes and trends in healthcare could help incorporate the evidence for medical interventions in the procurement process.

Pricing

In value-based procurement, pricing is still essential in the decision-making process. Therefore, many keynote speakers gave special attention to intricate questions about pricing. For example, one exciting session focused on reducing disparities between clinical trial evidence and real-world evidence in reimbursement negotiations. Another speaker showed how rapid technological innovations are helping to solve the complicated orphan drug pricing problem. 

Market Access

New ways of thinking about market access from a management perspective were extensively discussed. It was agreed that market access is a strategic corporate objective for the executive leadership team and needs subject matter experts to be appropriately executed. Some suggested the role of a Chief Access Officer, but ultimately, it is not the title that mattered as much as that the market access professionals have a seat at the same table as the commercial leads. Furthermore, a shift in market access thinking towards earlier research & development was highlighted. It is vital to represent market access early in decision-making and involve critical countries and regions as early as possible.

Another interesting plenary session looked at how inclusion, diversity, and equity in clinical trials are shaping the future of market access.

Use of artificial intelligence

One topic that was mentioned in many discussions at the World EPA Congress was the rise in the use of artificial intelligence in healthcare innovations. Artificial intelligence that forms the basis of tools such as OpenAIs ChatGPT 3 & 4 and Google’s Bard AI Chatbot can potentially improve healthcare systems and procurement processes while limiting inefficiencies across the industry. 

There was also a talk on which roles the healthcare industry could play in reducing health inequities. Coincidentally, the congress started on the same day Bill Gates published his thoughts on how AI could and should be used to reduce global inequities in healthcare. Speakers from companies, foundations, and governmental organizations alike agreed that we should be optimistic about the use of AI to help overcome some of the biggest challenges in healthcare, such as emerging diseases and epidemics, antimicrobial resistance, drug discovery, aging populations, the rise in chronic diseases, and growing shortages in the healthcare workforce.

The Vamstar team was proud to show how we are using artificial intelligence and cutting-edge technologies to combine tender optimization (tender discovery, tender management, and tender analytics), market intelligence and shortage tracking, and price simulation all on one platform to bring more efficiency and transparency to healthcare procurement. Having had many thoughtful discussions, elaborate product demonstrations, and meaningful conversations with key stakeholders worldwide, the team left Amsterdam energized and optimistic about the future of healthcare.

Vamstar’s procurement solutions could revolutionize the way your business does sales and improve your margins. Don’t hesitate to book a free demo and experience how you can use our services to simplify commercial processes and make operations smoother. Let Vamstar revolutionize the way you connect with procurement and clinical teams across the value stream.

Artificial Intelligence | Digital Health | Supply Chain | Buyers | Suppliers | Value Based Procurement | Market Intelligence | Pricing | Tender Discovery |  Market Access