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Drug Pricing Provisions Under the IRA and What They Mean for the Pharmaceutical Supply Chain | Asembia Specialty Pharmacy Summit
Kelsey Lang, principal of Avalere, breaks down the three provisions of the Inflation Reduction Act, which was discussed today at the annual Asembia Specialty Pharmacy Summit in Las Vegas.
There are currently three provisions part of the inflation Reduction Act.
Kelsey Lang, principal of Avalere, along with a couple members of her team, addressed these provisions today at the annual Asembia Specialty Pharmacy Summitt in Las Vegas.
In addition, her team discussed the types of things plans, manufacturers, pharmacies and other stakeholders should be planning for, as the law continues to be implemented over the next several months.
The provisions that are underway and affecting these pharamcy groups are a penalty for manufacturers that increase prices faster than the rate of inflation. This provision happens to be in effect today. The Act also requires Medicare to redesign the Part D benefit starting in 2025, as well as gives the Medicare program the authority to directly negotiate drug prices for the first time beginning in 2026.
"So thinking ahead to these other provisions, CMS is implementing policies now and making policy decisions that are going to impact things like how manufacturers approach product development, the benefit design in the party program, contracting for drugs, as well as access to care," said Lang in the video interview.
A Conversation With Greg Baker, RPh, CEO of AffirmedRx
March 31st 2024Greg Baker, CEO of AffirmedRx, describes his early career, shares some of his critical opinions about the pharmacy benefit management (PBM) industry and how, in his view, his company is offering a better alternative.
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David Calabrese of OptumRx Talks New Role, Market Insulin Prices and Other Topics 'On His Mind'
April 13th 2023In this month’s episode of the "What's On Your Mind podcast," Peter Wehrwein, managing editor of MHE connects with the now Chief Clinical Officer of OptumRx Integrated Pharmacies, David Calabrese. In this conversation, David touches on his transition in January as OptumRx’s former chief pharmacy officer and market president of health plans and PBMs to his new role as Chief Clinical Officer where he now focuses more on things such as specialty pharmacy to home delivery — with an overall goal of creating whole-patient care. Throughout the conversation, Calabrese also touched on the market’s hot topic of insulin prices and behavioral health services within the OptumRx community, among other topics.
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Florida Gets the OK. But Will Drug Importation from Canada Actually Happen?
March 5th 2024Canadian health officials warn that maintaining a drug supply for Canadians is their priority. The staunch opposition of the U.S. pharmaceutical industry may also be an obstacle to imports from north of the border.
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Briana Contreras, editor of Managed Healthcare Executive, spoke with Nancy Lurker, CEO and president of EyePoint Pharmaceuticals. Nancy shared a bit about EyePoint and how the organization’s innovative therapies are addressing patient needs through eye care, and most importantly, she addressed C-Suite positions like the CEO role. Nancy shared advice for those seeking to reach the CEO level, especially toward women in healthcare and other roles, and what it takes to run a biopharma company.
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What Payers Need to Know As Retail Pharmacies Move Into Primary Care
September 6th 2023Healthcare beyond the doors of the doctor’s office has the potential to offer more care to more people. But payers need to think about how to ensure that care is consistent. Regardless of the setting, care decisions must be based on evidence-based content and supported with strong patient education.
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