Expanding Healthcare Technology Across the Care Team to Improve Medication Access

Today’s guest post comes from David Holladay, President of Access and Adherence at CoverMyMeds.

David discusses how common medication access, adherence, and affordability barriers can lead patients to abandon important therapies. He suggests that technology can connect providers with actionable information at the point of care, thereby giving patients access to data that can lead them to make better decisions.

To learn more, download CoverMyMeds’ 2021 Medication Access Report: Healthcare Technology Edition.

Read on for David’s insights.

Drug Channels News Roundup, July 2021: Stingy Hospitals, Biosimilars & Part B, Hep C Drug Prices, Costco vs. Part D, and MBA Funny Business

Let’s cut through the summer haze with our refreshing breeze of articles and insights. In this issue:

• The top 10 stingiest hospitals

• Medicare Part B's savings from biosimilars 

• What happened to hepatitis C drug costs and rebates?

• Costco beats Medicare Part D

Plus, math madness with Duke’s Fuqua business school.

P.S. Please join the more than 12,000 consumers of my daily commentary and links to neat stuff at @DrugChannels on Twitter. You can also find me on LinkedIn, where I have more than 19,000 followers.

Informa Connect’s Hub, SPP and eServices Optimization

Informa Connect’s Hub, SPP and eServices Optimization
Delivered as a Hybrid Event
In-Person: Sep 22-23, New Brunswick, NJ | Virtual: Sep 28-29
www.informaconnect.com/hub-spp/

This important event convenes key stakeholders including manufacturers, specialty pharmacies, hub providers and more for unrivaled collaboration to leverage innovation and optimize access. Be a part of the critical conversation at this timely hybrid meeting to explore proven strategies and cutting-edge approaches to drive an all-encompassing, state-of-the-art hub.

Drug Channels readers will save 10% off the current registration rate when they use code 21HUBDC10*.

Navigate the Evolving Affordability and Regulatory Landscape to Maximize Access

• Demystify the Evolving Bio/Pharma Affordability Landscape — Key Trends and Dynamics Impacting Access
• Emerging Trends and Top Risk Areas — Review of Guidance on Copay Assistance, Accumulators and Charitable PAPs
• NCPDP Standards Update – Specialty Pharmacy and Standards Activity

Uncover Industry Best Practices and Stakeholder Management to Optimize Program Performance

• Bridge the Gap Between Hubs and Specialty Pharmacies for Improved Patient Experience
• Optimize Program Design for Cohesive Operational Administration
• Innovative Model Manufacturer Showcase — Practical Expertise from Industry Experts Enhancing Access, Adherence and Analytics
• Unpack Hybrid Hubs — How to Make Decisions on Insourced vs. Outsourced Services
• Discover Patient Support Program Needs for Patients with Rare Diseases
• Industry Playbook for Focused Investment, Operational Efficiencies, Scorecarding and Metrics

Utilize Data, Analytics and Technology to Enhance Adherence

• Embrace the Future of Data Driven Patient Support Through Automation and Predictive Analytics
• Utilize Digital Engagement for End-to-End Patient Support for Specialty Products
• Achieve Better Patient Outcomes through Tech-Enabled Adherence Programs
• Leveraging Next-Gen Tech to Enhance Electronic Benefit Verification and Prior Authorizations to Optimize Workflow
• Improve Patient Engagement through Mobile Messaging and Virtual Assistance

Download the full agenda and save your seat today!

Drug Channels readers will save 10% off the current registration rate when they use code 21HUBDC10*.

*Offer applies to current rates only and may not be combined with other offers, category rates, promotions or applied to an existing registration. Offer not valid on workshop only or academic/non-profit registrations.

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The content of Sponsored Posts does not necessarily reflect the views of Pembroke Consulting, Inc., Drug Channels, or any of its employees.

Specialty Pharmacy’s Explosive 340B Growth

The 340B Drug Pricing Program continues to expand far more quickly than the overall pharmaceutical market—and some channels are benefiting more than others.

As you will see below, mail and specialty pharmacies’ purchases of products that are eligible for 340B discounts have grown by an incredible 56% per year since 2017. That’s about six times faster than the overall mail and specialty market.

Consequently, specialty pharmacies have gained a greater share of the 340B market. Businesses owned by a few multi-billion-dollar, for-profit, publicly traded companies—Cigna, CVS Health, and UnitedHealthcare—are the primary beneficiaries of this astonishing growth.

To help you make sense of the market changes, I have also included a brief video to explain 340B’s growth and the expansion of contract pharmacies. The video is excerpted from my recent Drug Channels Update: 340B Controversies and Outlook video webinar.

Grab some popcorn and enjoy the show!

Informa Connect’s Finance and Accounting for Bioscience Companies – Hybrid Events

Finance and Accounting for Bioscience Companies – Hybrid Events
September 20-21, Boston MA | September 22, Virtual Experience | September 23-24, Burlingame, CA

www.informaconnect.com/financeaccountingeast

www.informaconnect.com/financeaccountingwest

Tailored to the unique nuisances of bioscience companies, these CPE-accredited annual events bring together the brightest financial and accounting minds from the nation’s leading trailblazers.

To best meet the needs of both traveling and stay-at-home audiences, Finance and Accounting for Bioscience Companies East and West will be HYBRID events, combining live and digital experiences that showcase all of the content from the live event, with additional keynotes, panel discussions and meeting scheduling to be fully inclusive to those unable to attend in person.

Drug Channels readers will save 10% off the current rate when they use code 21DRCH10 and register prior to August 13th.* More details are available at the event websites:

Finance and Accounting for Bioscience Companies – East Coast

Finance and Accounting for Bioscience Companies – West Coast

Agenda Highlights:

Finance and Accounting for Bioscience Companies – East Coast:

• Hear directly from leaders at Minovia Therapeutics, Zentalis Phamraceuticals, Takeda, Korro Bio, Tmunity Therapeutics, Generation Bio and more.
• Attend sessions covering digital transformation, the changing landscape of clinical trials, biotech equity funding models, new product launch planning, forecasting, valuation strategies and more.
• Earn up to 16.3 CPE credits.

Virtual Experience:

• Hear strategies to thrive through periods of change from today's most innovative CEOs.
• Watch the presentation of the Inaugural Life Sciences leaders and Stars Awards, celebrating innovation, achievement, and leadership in the finance community.
• Attend a Bioscience SPAC Workshop and review classification, valuation and reporting best practices.
• Don't miss sessions on practical applications of AI, RPA, Machine Learning, IPO and public market update and more.
• Earn up to 6.5 CPE credits.

Finance and Accounting for Bioscience Companies – West Coast:

• Hear directly from CFOs as they review the path to the CFO role, lessons on leadership and tackling challenges.
• Attend sessions covering preparing to go public, market access dynamics, accounting standards updates, accounting for R&D deals and more.
• Earn up to 15.4 CPE credits.

How to Register:

• LIVE in Boston with an All Access Pass! Start your week LIVE in Boston on September 20 and 21, and wrap up with a virtual programming on September 22, featuring recordings from BOTH East and West Coast events, as well as live streaming content.
• LIVE in Burlingame with an All Access Pass! Start your week with the virtual programming on September 22, featuring recordings from BOTH West and East Coast events, and wrap up your week LIVE in Burlingame, CA on September 23 and 24.
• Go All Virtual! Experience recordings from both meetings, plus live streaming virtual content from the comfort of your home or office on September 22!

Drug Channels readers will save 10% off the current rate when they use code 21DRCH10 and register prior to August 13th.* More details are available at the event websites:

Finance and Accounting for Bioscience Companies – East Coast
Finance and Accounting for Bioscience Companies – West Coast

*Cannot be combined with other offers or used towards a current registration. Cannot be combined with special category rate or non-profit rates. Other restrictions may apply.

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The content of Sponsored Posts does not necessarily reflect the views of Pembroke Consulting, Inc., Drug Channels, or any of its employees.

The Power of Partnerships: Why Pharma Needs to Redefine its Role With IDNs

Today’s guest post comes from MMIT's Dinesh Kabaleeswaran, Director of Advisory Services, and John Griggs, Senior Solution Consultant.

Dinesh and John discuss the expanding role and importance of integrated delivery networks (IDNs) in specialty medication administration and reimbursement.

Dinesh and John also highlight MMIT’s Pulse Analytics solution, which allows pharma manufacturers the ability to monitor drug coverage at the brand and IDN level.

Read on for Dinesh’s and John’s insights.

PBMs and Drug Spending in 2020: Data from CVS Health (sort of), Express Scripts, Navitus, and WellDyne (Plus: The Demise of PBM Reporting)

Since 2012, Drug Channels has examined commercial drug spending using the annual trend reports published by the largest PBMs.

This year, we review 2020 data on commercial plan sponsor clients of CVS Health and Express Scripts along with two smaller PBMs—Navitus and WellDyne. As you will see below, plan sponsors experienced another year of single-digit growth in overall pharmacy benefit drug spending.

For specialty drugs, utilization—more people taking more prescriptions—remained the driving force behind this higher spending. Specialty drug costs grew slowly—or even declined.

I’m sad to report that this year’s analysis is skimpier than usual. CVS Health has published only a bare bones summary, while Prime Therapeutics, MedImpact, and other large PBMs have stopped publishing trend reports. I document this disappointing state of affairs below.

Read on as I spread all the the k-poppin' details.

Informa Connect’s PAP: Patient Assistance & Access Programs

Informa Connect’s PAP: Patient Assistance & Access Programs
August 17-19, 2021 | Virtual Event
www.informaconnect.com/pap

Industry’s favorite event is back! Break through affordability barriers with PAP: Patient Assistance & Access Programs taking place August 17-19 in a fully virtual format, and benefit from critical and timely updates addressing the current and anticipated challenges for patient access and assistance professionals.

In a pivotal year for PAPs, join influential stakeholders as they collaborate and uncover industry best practices and stakeholder management to optimize program performance, navigate policy watch-outs and discuss methods to evolve patient assistance through technology and innovation. This event is not to be missed.

Exclusive Offer: View the agenda and register today. Be sure to use your exclusive promo DC4PAP to save 10% off* of your registration.

PAP serves as a three-day conference experience, featuring expert led discussion on the everchanging healthcare and coverage landscape, staying on the pulse of trends in copay exclusions, accumulators and maximizers, solutions to maintain the digital momentum and overcome challenges as we begin to transition to a post COVID-19 world and more. Hear multi-stakeholder perspectives on the most pressing topics and attend tailored content offerings based on your individual needs, including:

• Executive Outlook: The Intersection on Access and Affordability for Health Policy
• Build on the ACA Trends to Reduce Coverage Gaps and Disruptions
• Enforcement Update: Understand DOJ Enforcement Priorities for 2021 and Beyond
• Three Hot Topic Roundtables
• Models for Partnership to Advance Program Impact
• Racial and Income Disparities in Healthcare
• Compliance and Operational Trends for Nursing Support Programs
• Three Customizable Learning Streams
• Technology & Innovation for Streamlined Access
• Patient Support Collaboration & Operations
• Legal, Compliance and Policy
• Industry Disruptors: Stay on the Pulse of Trends in Copay Exclusions, Accumulators and Maximizers
• Ask the Experts: Setting PAP Industry Standards
• And more!

PLUS! Introducing a Brand New Digital Platform, ConnectMe:

• Interactive coffee tables and enhanced networking capabilities
• Instant message with attendees to continue conversations and spark up one-on-one discussions
• Suggested connections based on your preferences
• Sophisticated scheduling tools: Set your availability, book meetings and more
• Live and on-demand sessions, all available 30-days post-event to review at your leisure

Exclusive Offer: View the agenda and register today. Be sure to use your exclusive promo DC4PAP to save 10% off* of your registration.

Informa Connect will see you there!

*Cannot be combined with other offers, promotions or applied to an existing registration. Other restrictions may apply.

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The content of Sponsored Posts does not necessarily reflect the views of Pembroke Consulting, Inc., Drug Channels, or any of its employees.

Rite Aid’s PBM Strategy: Will Hope Triumph Over Experience?

ICYMI, Rite Aid recently released the financial results for its most recent fiscal quarter, which ended on May 29. Rite Aid’s pharmacy benefit manager (PBM) business, Elixir, continues to flail in an increasingly challenging market.

I’ve long been skeptical of Rite Aid’s PBM strategy. As you will see below, last quarter’s results further validated my skepticism. Synergies with the company’s retail pharmacy business are minimal—and shrinking.

Rite Aid’s management team does seem committed to fixing and then growing the business. But as I see it, the company should either unload Elixir before it loses even more value or join with a larger company that can offer a viable platform for success.

I’m sure many investors wish that Amazon would simply buy Rite Aid and solve their pain.

On the other hand, free advice is often worth what you paid for it. Read on and see what you think the company should do.