The Institute for Clinical and Economic Review (ICER), a Boston-based not-for-profit organization describes itself as “a trustworthy, independent source to help assess how valuable a new drug really is.” ICER does this by recommending prices that, in its estimation, accurately reflect that value. However, ICER’s price recommendations are designed to benefit insurers and pharmacy benefit management firms that fund the group. ICER’s recommendations are used to guide what drugs should go on drug formularies (the list of medicines included in our prescription drug plans) as well as how much we pay for medicines and when we can get them. In turn, these decisions maximize the rebates and discounts drug companies must pay the pharmaceutical benefit management companies (PBMs) that create the drug formularies where their products included.
