The term ‘No cure, No pay’ is a well-known salvage clause in the form of Lloyd’s standard open form (LOF) that was standardised and adopted in 1908. It stipulates that the salvor will only be paid for successful salvage operations. This has become a basic element of contract conditions for many maritime transport and logistic companies.
The concept of a no cure, no pay strategy could be a win-win solution for the pharmaceutical industry, healthcare funders and patients. Purchasing authorities are looking for rational pharmacotherapy, and drug manufacturers must make their products as attractive as possible to compete in the market. Read more https://www.credifin-nederland.nl/diensten/no-cure-no-pay-incasso/
Exploring the Benefits of No Cure, No Pay Direct Debit Solutions for Businesses
However, the risk of misuse as cheap marketing and reservations among healthcare staff and politicians must be considered before this strategy can be widely applied in a sustainable manner. Moreover, the strategy must not compromise patient health and safety and must be accompanied by practical and ethical guidelines. The aim of this article is to examine whether the no cure, no pay concept can help reduce tensions between drug manufacturers and healthcare funders and contribute to a sustainable medical environment.