A Clear Path to Education Affordability Requires Meeting Patients Where They Are

Today’s guest post comes from Kristina Crockett, VP of Product Management at CoverMyMeds.

Kristina shares the story of a patient who cut pills in half to extend her prescriptions. Unfortunately, this patient didn’t know about manufacturer affordability programs.

In this article, Kristina reviews how brands can help patients make connections that address medication affordability challenges, whether at the prescriber’s office, the pharmacy, or at home.

To learn about CoverMyMeds’ medication affordability solutions that engage patients, download the CoverMyMeds white paper: Overcoming Affordability Challenges with Patient-Centered Solutions.

Read on for Kristina’s insights.

NEW: The Drug Channels 2024 Video Webinar Series

Drug Channel Institute is pleased to announce The Drug Channels 2024 Video Webinar Series.

Join Dr. Adam J. Fein for three live video webinars during 2024. These live, interactive events will be broadcast via Zoom from the Drug Channels Video studio in beautiful downtown Philadelphia.

During these events, Dr. Fein will address the latest issues confronting the U.S. drug channel. Topics will be determined based on what’s happening—trends, policy changes, company announcements, and more. He’ll share DCI’s latest market data to help you stay on top of new developments. You will be able to use these events as both a capstone of your current learning and a touchpoint for the future.

The three events are scheduled for 12:00 p.m. to 1:30 p.m. ET on the following dates:

• March 29, 2024

• June 21, 2024

• December 13, 2024 (Drug Channels Outlook 2025)

For 2024, we are offering a Corporate Pricing option that will allow larger organizations to register hundreds of colleagues for one fixed price. Please contact Paula Fein (paula@drugchannels.net) for details and custom pricing for your organization.

Read on for full details on pricing, including substantial discounts for multiple sites.

P.S. If you're not familiar with our webinars, click here to watch brief excerpts from our 2023 video webinars.

Do Plan Sponsors Understand How Their PBMs Make Money?

Today, the House Committee on Oversight and Accountability will hold a hearing with a subtle and not-at-all pejorative title: The Role of Pharmacy Benefit Managers in Prescription Drug Markets Part II: Not What the Doctor Ordered.

To help you prepare, I share fresh insights from a new survey of PBMs’ plan sponsor clients. As you will see, clients are somewhat more satisfied with the perceived transparency of smaller PBMs. However, satisfaction with transparency of the Big Three PBMs—CVS Caremark, Express Scripts, and OptumRx—is only a smidge behind smaller PBMs.

From my perspective, this counterintuitive result reflects how the PBM profit model has evolved. A plan sponsor can feel satisfied with its larger PBM’s transparency, while remaining blissfully unaware of how its PBM actually earns money. I outline some of these novel profit sources below.

Can plan sponsors get some satisfaction? Read on for what I say.

Informa Connect’s Patient Support Services Congress

Informa Connect’s Patient Support Services Congress
November 7-9, 2023 | The Inn at Penn, Philadelphia, PA
https://informaconnect.com/patient-support-services/

Exclusive Offer – Be sure to use your exclusive promo code 23DC10 to save 10% off* of your registration.

The Patient Support Services Congress is a dialogue-driven meeting that arms the industry with innovative trends and next-generation approaches to patient services for optimal performance. Showcasing high level discussions on access strategy, patient interactions, case management, compliance practices and more, this two-and-a-half-day event helps navigate complex compliance hurdles to advance and enhance your patient-oriented programs. Benefit from key stakeholder interaction, dedicated breakouts, and detailed case studies on control enhancement and operational excellence to further strengthen your programming.

Drug Channels subscribers: Save 10% off the current registration rate
with promo code 21DC10*. Register today.

In-Depth Discussions and Actionable Takeaways on Critical Topics:

• Enforcement Update – Explore Rising Oversight and High Priority Risk Areas for Patient Services Compliance
• Digitizing the Patient Services Sector – Implications of AI and Machine Learning
• Patient Data and Privacy – An Essential Component in your Support Program
• Fostering Value through Cross-Functional Collaboration

Featured Faculty Driving the Conversation:

• Peter Agnoletto, Compliance Officer, General Medicines and Consumer Healthcare, Sanofi
• Kelley Allison, Senior Vice President, US Market Access, Horizon
• Marianne Gandee, Vice President, Patient Solutions & Alliances, Pfizer
• Matt Giordano, Director of Patient Services Field Operations, Krystal Biotech, Inc.
• Tom Hiney, Privacy Counsel, Blueprint Medicines
• Matt Howatt, Assistant U.S. Attorney, U.S. Attorney’s Office for the Eastern District of Pennsylvania
• Suzanne Marinakos, Director, Patient Services Operations- Rare Disease, Novo Nordisk
• Snigdha Santra, Director, Business Insights and Strategy, Chugai Pharmaceuticals
• Kinshuk Saxena, Pharm.D., MBA, Lead Commercialization Strategy, Novartis
• Anthony Scatamacchia, Head, Patient Support Services – Innovation, Specialty Care, Sanofi
• Susan Stein, Executive Director, Head of Patient Engagement and Professional Alliances, Agenus Bio
• Donna White, Vice President, Compliance Officer, Chiesi USA, Inc.
• And so many more!

Comprehensive Content and Dynamic Features Include:

• 2.5 days of live content from industry thought-leaders
• 15+ on-demand sessions, tailored to both access and compliance
• Over 4 hours of live speaker Q&A
• AI-powered virtual networking with colleagues and counterparts
• Private meeting and chat rooms
• Access to live and on-demand content for 30 days post-event

Drug Channels subscribers — Save 10% off the current registration rate with promo code 21DC10*. Register today.

*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. To find out how you can promote an event on Drug Channels, please contact Paula Fein (paula@drugchannels.net).

How Payers Are Reacting to Insulin Price Changes

Today’s guest post comes from Nicole Mayer, Senior Analyst at MMIT.

Nicole summarizes MMIT’s research on payers’ views of two crucial market changes: (1) the Inflation Reduction Act of 2022’s requirement to cap insulin prices at $35 for Medicare beneficiaries, and (2) manufacturers’ reduction in list prices for certain insulin products. She also discusses MMIT’s research on such glucagon-like peptide 1 (GLP-1) drugs as Ozempic and Mounjaro.

Click here to learn more about MMIT’s Biologics & Injectables Index, a research series that provides unblinded payer perspectives.

Read on for Nicole’s insights.

White Bagging Update 2023: Saving Money or Shifting Costs?

Time for our annual update on the channels for provider-administered drugs.

For 2023, specialty pharmacies—via white, brown, and clear bagging—retained a meaningful share of the distribution channels for provider-administered oncology drugs. Despite the concerted efforts of insurers such as UnitedHealthcare and Elevance Health, however, buy-and-bill remains the most common channel for these products. Below, I review the latest data on trends over the past five years.

Strategies for white and brown bagging reflect the broader battle over oncology margins—and plans’ attempts to shift costs to providers, patients, and manufacturers. The persistence of buy-and-bill reflects this channel’s legacy infrastructure as well as providers’ push back on white bagging mandates. But perhaps patients and manufacturers will start paying more attention to the higher costs from white bagging.

FYI: The material in today’s article is adapted from Chapter 3 of our forthcoming 2023-24 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors, now available to preorder at special introductory pricing.

Available for Preorder: The 2023-24 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors

On October 10, 2023, Drug Channels Institute will release 2023-24 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors. This report—our fourteenth edition—remains the most comprehensive, fact-based tool for understanding and analyzing the large and growing U.S. pharmaceutical distribution industry.

9 chapters, 300+ pages, 163 exhibits, 600+ endnotes: There is nothing else available that comes close to this valuable resource.

We are providing you with the opportunity to preorder this thoroughly updated, revised, and expanded 2023-24 edition at special discounted prices. This means that you can be among the first to access our new report. Those who preorder will receive a download link before October 10.

CLICK HERE to download a free pre-publication overview

(including key industry trends, the Table of Contents, and a List of Exhibits)

You can pay online with all major credit cards (Visa, MasterCard, American Express, and Discover) or via PayPal. Click here to email us if you would like to pay by corporate purchase order or check.

Special preorder and launch pricing discounts will be valid through October 20, 2023.

2023-24 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors is the definitive, nonpartisan resource thoroughly updates our annual exploration of the distribution industry’s interactions with—and services for—other participants in our healthcare system.

Our 2023-24 edition contains the most current financial and industry data. As always, we have updated all market and industry data with the most current information available. The report also updates our annual analyses of the strategies, market positions, and executive compensation of the three largest companies: AmerisourceBergen (Cencora), Cardinal Health, and McKesson.

The notable new material in this 2023-24 edition includes new data about commercial pricing and reimbursement for provider-administered biosimilars as well as updated, expanded, and reorganized data about pharmacy services administrative organizations and group purchasing organizations for small pharmacies and physician practices. New sections analyze emerging challenges from direct distribution models that bypass wholesale distribution, the acquisitions of physician practices by corporate entities and private equity, and the Inflation Reduction Act’s likely consequences for wholesalers. Download a free report overview for more details on the new sections and content.

Thank you for your interest in our work. If you have any questions before purchasing a license to the report, please email me (afein@drugchannels.net). Enjoy!

What Pharmaceutical Manufacturers Value Most from a Hub

Today’s guest post comes from Nasir Ali, Chief Product Officer at CareMetx.

Nasir discusses how hubs help patients initiate and adhere to drug therapies. Based on CareMetx research, he outlines the key factors that drug manufacturers value in their hub partners.

Learn more by downloading CareMetx’s full report: The Evolving Landscape of Digital Healthcare Hubs.

Read on for Nasir’s insights.

What’s Behind CVS Health’s Novel Vertical Integration Strategy for Humira Biosimilars

CVS Health has finally revealed its strategy for biosimilars of AbbVie’s Humira.

Rather than announce multiple biosimilars for its pharmacy benefit manager (PBM) formulary, the company will instead launch Cordavis, a new subsidiary that will market a private label, low-list-price version of Sandoz’ Hyrimoz. Here’s the press release: CVS Health Launches Cordavis.

Below, I highlight how CVS Health could profit from this strategy and outline crucial unanswered questions about this latest vertical integration move. Let’s see if plan sponsors, patients, and legislators will pay attention to the man behind the curtain.

Drug Channels News Roundup, August 2023: Maximizer Problems, Hospital vs. MD Reimbursement, Bureaucracy vs. Costs, And My Favorite Chart Updated

We’re wrapping up one of newsiest summers in recent memory. Time to pack away your bathing suit, send the kids back to school, and cherish these curated curiosities that I combed from the Jersey Shore:

• Fresh evidence of patients’ copay maximizer pain

• How payers pay more to hospitals than to physician offices

• Surprise? Rationing care via bureaucracy saves money

Plus, the June 2023 update to my all-time favorite chart.

P.S. Join my more than 44,000 LinkedIn followers for daily links to neat stuff. You can also find my daily posts at @DrugChannels on Twitter/X, where I have more than 16,700 followers. (I recommend that you follow me on LinkedIn, because the quality of comments and engagement is much higher than they are on Twitter. I’m not posting to Threads yet.)

Key Predictions in the Accumulator/Maximizer Battle

Today’s guest post comes from Chris Dowd, Senior Vice President of Market Development at ConnectiveRx.

Chris discusses how such copay adjustment programs as accumulators and maximizers impact patients. He also discusses current legal cases that cover prescription medication access.

To learn more, register for ConnectiveRx’s free October online panel discussion with Chris: The Battle Over Accumulators and Maximizers: What You Need to Know for 2024.

Read on for Chris’ insights.

A Reality Check on That Blue Shield of California Announcement

Last week, Anna Matthews of The Wall Street Journal scored a market-moving scoop with her story about Blue Shield of California’s decision to ditch CVS Health’s Caremark pharmacy benefit manager (PBM) in favor of five separate vendors. ICYMI: A Big Health Insurer Is Ripping Up the Playbook on Drug Pricing

I commend Blue Shield of California for undertaking a noble experiment to unbundle the PBM business model. But let’s curb our enthusiasm over any purported “disruption.” The model is intriguing, but less novel than advertised—and retains an unexpected reliance on the largest pharmacy benefit managers (PBMs).

Read on for some industry context and my unanswered questions.