National Health Council Debuts First-of-Its-Kind Fair-Market-Value (FMV) Calculator for Patient-Engagement Activities
WASHINGTON, DC – To ensure that all stakeholders positively enter into engagement efforts that effectively drive health care innovation based on patient and caregiver insights, the National Health Council has created a toolbox, the Fair-Market-Value (FMV) Calculator for Patient-Engagement Activities, to support sponsor-patient engagement.
The FMV Calculator is the initial tool launched in the NHC toolbox to support sponsor-patient engagement. Developed for U.S. use, with project partner the Patient Focused Medicines Development (PFMD) adding other countries in the future, the FMV Calculator totals fair compensation for patients and patient group representatives involved in patient-engagement activities that take place between patient organizations. Also included are a User Guide, how to interpret Calculator results, a document explaining the FMV hourly rate methodology, a glossary, and a Patient-Engagement Activities Framework.
“Patients provide critical insights for the development of medical products, so it’s not only right – but imperative – that they are fairly compensated for their time and expertise,” said Marc Boutin, JD, Chief Executive Officer, National Health Council. “We hope these tools will help support sustainable, compliant, and patient-friendly agreements between stakeholders and the patient and caregiver community.”
Later this summer, the NHC will release additional tools. One will be a set of contract templates, adapted for use in the U.S. These templates were originally developed by PFMD and the Workgoup of European Cancer Patient Advocacy Network (WECAN).
The FMV Calculator and related compensation tools are available now on the NHC website.
Created by and for patient organizations 100 years ago, the National Health Council (NHC) brings diverse organizations together to forge consensus and drive patient-centered health policy. We promote increased access to affordable, high-value, sustainable health care. Made up of more than 140 national health- related organizations and businesses, the NHC’s core membership includes the nation’s leading patient organizations. Other members include health-related associations and nonprofit organizations including the provider, research, and family caregiver communities; and businesses representing biopharmaceutical, device, diagnostic, generic drug, and payer organizations. Learn more at: https://www.nationalhealthcouncil.org