Factors for Consideration are coming
Foundation work continued towards adopting a new way of making funding decisions – the Factors for Consideration.
In late 2014 we announced the current nine Decision Criteria, which have served us well for 22 years, will be replaced by Factors for Consideration. Since then, PHARMAC has published a video and interactive diagram on its website, along with supporting information, to illustrate the different components of the Factors. The video and diagram were produced with input from the Consumer Advisory Committee, which was supportive of steps to create tools that helped people to understand the changes that were taking place.
In August 2015 PHARMAC held a workshop seminar for pharmaceutical suppliers that was well-attended. The seminar was an opportunity to find out in more depth about the Factors and what changes suppliers might need to make – or additional information they might need to provide – to support funding applications made under the Factors.
Another milestone came in August with release of an updated version of the Prescription for Pharmacoeconomic Analysis, PHARMAC’s guide to how we do our economic assessment – one of the inputs into our decision-making process.
We also announced the ‘go-live’ date for the Factors – in effect the point from which all decisions will be made using the Factors. To enable us to make decisions from 1 July 2016 using these, we provided suppliers with a timeline of steps towards that decision date.
- February 2016 – Applications to be considered at the May 2016 PTAC meeting are to be submitted by February 2016 with reference to the updated Guidelines for funding applications to PHARMAC.
- May 2016 – PTAC will make its recommendations to PHARMAC using the Factors, rather than the Decision Criteria.
- 1 July 2016 – Funding decisions made by PHARMAC will use the Factors for Consideration from this point on.
Last updated: 10 December 2015