CICC: Optimizing the “Dual Catalogue” Mechanism for Centralized Drug Procurement and Further Promoting Payment Reform

The Zhitong Finance App learned that CICC released a research report saying that the Central Economic Work Conference proposed “optimizing centralized drug procurement and deepening the reform of medical insurance payment methods. “Implement rehabilitation and nursing expansion and upgrading projects, and implement a long-term care insurance system” and other related content. The bank believes that the above policy is expected to drive a steady rise in domestic demand in the pharmaceutical industry. Currently, Chinese pharmaceutical companies are entering an era of high-quality development, and domestically produced innovative drugs have gradually followed suit towards FIC/BIC innovation; looking forward to next year's overseas market and commercial insurance collapse, it is also expected to bring new investment opportunities.

CICC's main views are as follows:

Optimize centralized drug procurement and implement the “anti-internal volume” principle

In December of last year, the National Health Insurance Administration and the National Health Commission issued the “Notice on Improving the Working Mechanism for Centralized Pharmaceutical Procurement and Implementation”. In July of this year, the National Health Insurance Administration issued the 11th batch of drug collection rules, clarifying the principles of stabilizing clinical practice, ensuring quality, preventing encirclement, and anti-internal circulation. The bank believes that with the introduction of a number of policies, drug collection is expected to enter a new stage, which will promote stable production by pharmaceutical companies in the long term and push clinical drug use to achieve a sustainable balance between price accessibility and reliable quality.

Deepen the reform of medical insurance payment methods, and form a clear division of labor through the “dual catalog” mechanism

According to the official website of the Health Insurance Administration, the basic medical insurance catalogue covers clinically essential basic drugs, while the commercial insurance innovation catalogue focuses on including high-value drugs that are not covered by medical insurance but have significant clinical value. In December, the 25-year medical insurance catalogue and commercial insurance catalogue were introduced. The bank believes that supplementing the development of commercial insurance on the basis of medical insurance will facilitate the implementation of high-priced innovative drugs with innovative and clinical value, create a balance between “basic protection” and “support innovation”, and achieve pay-side collaboration.

Long-term care insurance service project catalogue released

In September of this year, the National Health Insurance Administration issued a notice on the “National Long-term Care Insurance Service Project Catalogue (Trial)”. The bank believes that establishing a unified national long-term care insurance catalogue will help standardize long-term care service practices, improve service quality, stabilize the rights and interests of long-term care insurance beneficiaries, and better guarantee the smooth operation of long-term care insurance funds.

risk

The development of new products fell short of expectations, and the progress of policy progress fell short of expectations.