Drugmakers are less prepared for the transition to value-based reimbursement than other parts of the health care sector, Daniel R. Hoffman writes. Payments to health care providers will be based on patient outcomes produced by their practice patterns. Hoffman says patients will be hit with a greater share of drug prices as insurers shift costs to them, and he expects U.S. consumers to react against drug price discrepancies between the U.S. and Europe.

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