What is a fair price for a lifesaving cure?

Value-based drug pricing helps us to understand the maximum amount of money we're willing to pay for treatments that could benefit patients and save lives. The idea is simple: We should pay more for drugs that do more and generate more life, and we should pay less for drugs that do less. However, what happens when the value-based price for a tremendous drug is legitimately in the millions of dollars?
Healthcare economist Amitabh Chandra acknowledges that although value-based pricing is an appealing idea, it isn't the right model if we want to be sure that the amazing drugs of the future-from revolutionary cures to regenerative medicines-are accessible and affordable for all. Tune in to Amitabh's 2017 TEDMED Talk to learn more about the innovative models he believes could help to ensure that everyone is able to benefit from the lifesaving drugs of tomorrow.