Whereas many countries and organisations conduct independent horizon scanning activities, the costs, time, and resource allocations necessary to do so may prove prohibitive, even though the benefits may be far reaching.
In this regard, the IHSI Joint Horizon Scanning Database was developed to address the issues countries face and specifically aims to:
Promote fair and
transparent pharmaceutical prices
Awareness of which new drugs will come to market within the next two to five years enables decision-makers to better understand upcoming innovations and their influence on currently available products. This insight has a direct impact on price negotiations and arrangements with the pharmaceutical industry.
Use data to
drive price reduction
IHSI employs innovative technologies to scan open source data globally. This data-drive approach enables negotiations to develop equitably, delivering lower costs ultimately to the most important end use, the patient.
Mitigate the impact of
IHSI database insight gives members the opportunity to pre-empt the impact of potentially disruptive innovation on the market by preparing and adapting national systems accordingly. IHSI will produce High Impact Reports to specifically address such market disruption scenarios.
Insight into which new innovations and products are reaching the market means that decision-makers are able to pre-emptively manage budgetary resources more effectively, ahead of time.
Support HTA and
Market insight for new compounds and products means that national HTA and regulatory bodies, equipped with pharmaceutical development timelines, can develop relevant methodologies in advance.