Addressing how capital markets can expand access to transformative oncology treatments
We are entering a new phase of healthcare innovation. With a slate of FDA approvals in late 2017, personalized, ground-breaking gene and immuno-therapies have arrived. Yet the question remains: how do we pay for them?
Tapestry is tackling this question alongside partners in industry, government, payers, reinsurers, providers, and other experts. We are working to address the financial challenges of transformative oncology treatments by exploring how novel financial approaches for consumers, payers, and providers can better manage rising patient out-of-pocket costs and the budget impact of this new class of therapies.
The Innovative Healthcare Financing (IHF) working group emerged from a landscape assessment that Tapestry completed in 2016 to explore how the US healthcare system could better support delivery of and payment for curative therapies. Building from that effort, Tapestry partnered with the MIT Laboratory for Financial Engineering and Dana-Farber Cancer Institute to convene a multistakeholder workshop on new ways to pay for transformative therapies in October 2016.
In 2017, a subset of those stakeholders agreed to continue to collaborate and assess the opportunity for financial sector tools and approaches that can help pay for innovative treatments, with a specific focus in oncology. IHF was formed to help educate financial sector stakeholders on the US oncology market and address how complex financial tools such as consumer loans and reinsurance could help manage patient out-of-pocket costs and the budget impact of high-cost oncology treatments on payers and providers.