Core Viewpoint - The adjustment of the National Medical Insurance Drug List for 2025 marks a significant shift towards supporting innovative drugs, particularly through the introduction of a commercial insurance innovation drug directory, which opens new payment pathways for high-value innovative drugs [1][5][6]. Group 1: Policy Changes - The National Healthcare Security Administration (NHSA) has published a series of documents outlining the adjustment plan for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug List, as well as the Commercial Health Insurance Innovation Drug Directory [1][3]. - The new commercial insurance directory focuses on high-innovation, clinically valuable drugs that significantly benefit patients but cannot be included in the basic directory due to their high costs [1][5]. - The adjustment process includes an online application system, with a submission period from July 11 to July 20, and a review phase from August to September, differing from previous years by eliminating the need for paper submissions [2][3]. Group 2: Market Impact - The introduction of the dual-track application system for both basic medical insurance and commercial insurance is expected to enhance the efficiency of market access for innovative drugs [6][7]. - The proportion of new drugs listed in the insurance directory has increased significantly, from 32% in 2019 to 98% in 2024, reflecting the impact of the new policies [2][3]. - The commercial insurance directory aims to address the challenges of high-priced innovative drugs, providing a crucial market-based payment channel outside of the basic medical insurance [5][6]. Group 3: Future Outlook - The dynamic adjustment mechanism for the drug directory is expected to be updated annually, with a focus on meeting unmet medical needs for new drugs [7][8]. - The emphasis on differentiated pricing strategies and flexible renewal conditions is anticipated to improve the market access for innovative drugs [7][8]. - The dual-track system is seen as a key strategy for deepening healthcare reform and supporting high-quality development in the pharmaceutical industry [5][6].