Analysis

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

Chris explains how the Inflation Reduction Act of 2022 (IRA) will impact hub, patient assistance programs (PAP), and affordability programs. He discusses steps manufacturers can take to accommodate the anticipated budget reductions while maintaining access and affordability for patients.

To learn more, join Chris on June 4 at 1:00 p.m. ET for a free online panel discussion about how brands can continue to offer robust patient support despite IRA challenges.

Read on for Chris’ insights.

Posted by Drug Channels Institute, an HMP Global company on Friday, May 3, 2024

Labels: Guest Post, Sponsored Post

April is over, so it's time to hop into this month’s selection of noteworthy news:

• CVS Health’s formulary boosts a Humira biosimilar

• An insurer ditches buy-and-bill to save money for plans—but maybe not for patients?

• My $0.02 on how Medicare Part D plans will react to the Inflation Reduction Act

• Walgreens' unexpected specialty pharmacy strength

• A video deconstruction of my infamous Drug Channels article on GoodRx

Plus, a cartoonist illustrates my recent keynote on the battle for oncology margin.

P.S. Join my nearly 55,000 LinkedIn followers for daily links to neat stuff.

Posted by Drug Channels Institute, an HMP Global company on Tuesday, April 30, 2024

Labels: Biosimilars, Discount Cards, Specialty Drugs, Inflation Reduction Act of 2022, PBMs, Medicare Part D

Today’s guest post comes from Kevin Kettler, President of CoverMyMeds.

Kevin asks: What if there were no barriers across the therapy access and reimbursement process? In his view, eliminating barriers requires a combination of expert insight, actionable data, and simplification of the providers' experiences.

Click here to learn more about CoverMyMeds’ comprehensive technology solutions.

Meet CoverMyMeds in Booth 1305 at the Asembia AXS24 Summit. To keep up with CoverMyMeds and all the action at Asembia, click here to sign up for daily recaps from Asembia.

Read on for Kevin’s insights.

Posted by Drug Channels Institute, an HMP Global company on Friday, April 26, 2024

Labels: Guest Post, Sponsored Post

Last week, we documented the substantial concentration of dispensing revenues for specialty drugs. See The Top 15 Specialty Pharmacies of 2023: Market Shares and Revenues at the Biggest PBMs, Health Plans, and Independents.

Today, we examine how manufacturers’ specialty networks contribute to this concentration. In DCI’s exclusive analysis below, we show that specialty pharmacies affiliated with pharmacy benefit managers (PBMs) play an outsized role in manufacturer-designated dispensing networks.

A typical network contains about five specialty pharmacies—but one in three specialty products with a manufacturer-designated network contains only a single specialty pharmacy. In those exclusive networks, independent and smaller specialty pharmacies are the big winners.

Read on for DCI’s updated profile of specialty networks—and ponder why smaller pharmacies are winning the battle for exclusive networks.

Posted by Drug Channels Institute, an HMP Global company on Wednesday, April 24, 2024

Labels: Pharmacy, Specialty Drugs, Channel Management, PBMs

Next week, the Drug Channels Institute team will be attending Asembia’s AXS24 Summit at the wonderful Wynn Las Vegas.

And for the first time—thanks to our new friends at HMP Global—DCI will have its very own booth! (Click here for a special sneak peek.)

As you might expect, we will hit Vegas in true Drug Channels style. Stop by booth #1801 for fun and games:

• Partake in a special in-person Ask Me Anything with Adam (#AMAWA) session with DCI president Adam J. Fein, Ph.D.! The AMAWA session will start on Monday, April 29, at 4:30 p.m. (Bring your phone if you want a selfie!)
  
  Adam won’t be speaking at Asembia this year, so be sure to visit booth #1801 on Monday afternoon to get his hot take on whatever topic is vexing you.

• Spin the Drug Channels Wheel O’ Fun and win fabulous prizes!

• Meet Bar Stern, DCI’s newest and most bearded team member!

• Request an invitation to the inaugural Drug Channels Leadership Forum!

• Chat with the marvelous Paula Fein, DCI’s intrepid vice president of business development!

• Learn about First Report Managed Care!

• Enjoy snacks, treats, and espresso!

DCI’s booth will be in the back of the hall, with all of the cool kids. Here’s a handy map:

[Click to Enlarge]

Remember: What happens in Booth #1801, stays in Booth #1801. 😉

BONUS TIP

While you’re in Vegas, be sure to visit the fantastic new exhibition about the gross-to-net bubble at Circus Circus.

10/10 would pop the gross-to-net bubble in Vegas again!

Posted by Drug Channels Institute, an HMP Global company on Monday, April 22, 2024

Labels: Blog Administration, Fun Stuff, Industry Trends, Specialty Drugs

Today’s guest post comes from Jim Sheninger, Pharmacy Strategy Officer at GoodRx.

Jim describes GoodRx's emerging pharmacy contracting strategies. In addition to working through pharmacy benefit managers (PBMs), GoodRx now also contracts directly with Walgreens, CVS, and other national and regional pharmacies. These direct agreements are based on acqusition cost, which helps pharmacies stabilize gross margins while still providing low pricing for consumers.

To learn more about GoodRx and its pharmacy partnerships, reach out to network@goodrx.com.

Read on for Jim’s insights.

Posted by Drug Channels Institute, an HMP Global company on Friday, April 19, 2024

Labels: Guest Post, Sponsored Post

Drug Channels Institute’s (DCI’s) latest analysis finds that participants in the specialty pharmacy market continue to get more diverse—although revenues remain highly concentrated.

We have identified nearly 1,800 dispensing sites with specialty pharmacy accreditation—about 40% of which are owned by hospitals, physician practices, and other healthcare providers.

Alas, specialty pharmacies owned by the three largest pharmacy benefit managers (PBMs) have the most brass in their pocket, as they accounted for two-thirds of prescription revenues from pharmacy-dispensed specialty drugs.

Read on for DCI’s latest overview of the 2023 marketplace and revenues of the biggest market participants, along with key specialty pharmacy trends.

Posted by Drug Channels Institute, an HMP Global company on Tuesday, April 16, 2024

Labels: Hospitals, Industry Trends, Pharmacy, Specialty Drugs, Channel Management, PBMs, Narrow Networks

Today’s guest post comes from Jessica Lens, Chief Patient Experience Officer at CareMetx.

Jessica discusses the challenges of patient nonadherence. She then outlines how manufacturers can build adherence into their patient services program to increase patient engagement.

To learn more about enhancing patient engagement and adherence, download CareMetx's new report: Driving Brand Success: Minimize Risk and Capture Missed Value from Patient Engagement and Adherence.

Read on for Jessica’s insights.

Posted by Drug Channels Institute, an HMP Global company on Friday, April 12, 2024

Labels: Guest Post, Sponsored Post

Three is still the magic number for pharmacy benefit managers (PBMs).

For 2023, nearly 80% of all equivalent prescription claims were processed by three companies: the Caremark business of CVS Health, the Express Scripts business of Cigna, and the Optum Rx business of UnitedHealth Group.

Read on for Drug Channels Institute’s (DCI’s) latest market share figures, along with a preview of the industry changes that will shift these shares over the next few years.

Posted by Drug Channels Institute, an HMP Global company on Tuesday, April 9, 2024

Labels: Group Purchasing Organizations (GPOs), Mergers and Acquisitions, Industry Trends, Channel Management, PBMs

I am pleased to announce the inaugural Drug Channels Leadership Forum! This unique, new event will be held from March 17 to 19, 2025, at the Turnberry Resort and Spa in Miami.

The Leadership Forum will be an executive gathering where drug channel leaders can network and discuss key issues and challenges facing the commercial healthcare system. We intend to bring together people from the entire drug channel: pharmaceutical manufacturers, pharmacy benefit managers (PBMs), health plans, insurers, and plan sponsors, wholesalers and distributors, pharmacies, providers, buying groups, government officials, and more.

I’m personally assembling the agenda, which will be a mix of one-on-one fireside chats with industry leaders combined with hard-hitting, topical panel discussions. And of course, I'll be there to moderate the entire event and lead the fireside chats. Thanks to DCI’s partnership with HMP Global, we can bring this novel event to the drug channels community.

To maximize the value of networking and learning, the event will have a limited number of attendees. Click here to request an invitation.

We will also have a very limited number of sponsors. Click here to learn more about sponsorship opportunities.

Read on for the full press release. Hope you can join us!

Posted by Drug Channels Institute, an HMP Global company on Monday, April 8, 2024

Labels: Industry Trends, DCI In-Person Events