Analysis

The Bureau of Labor Statistics (BLS) has recently released its employment and salary data for 2020. That means it’s time to update Drug Channels Institute’s (DCI) annual analysis of pharmacist salaries and employment.

We have found that the share of pharmacists who work at hospitals reached a new high. What’s more, average base salaries for retail pharmacists have dropped, while salaries have risen for pharmacists employed by hospitals, physician offices, and other non-retail settings.

A word of caution: These data were collected during the peak of last year’s pandemic shutdowns. I suspect that 2020 will turn out to have been a much more challenging year for retail-employed pharmacists.

The 340B Drug pricing Program is a crucial topic for pharmacists. For a deep dive, join me for DCI’s upcoming live video webinar, Drug Channels Update: 340B Controversies and Outlook , on June 25, 2021, from 12:00 p.m. to 1:30 p.m. ET. CLICK HERE TO LEARN MORE AND SIGN UP.

National Association of Specialty Pharmacy (NASP) 2021 Annual Meeting & Expo
September 27-30, 2021 | Marriott Marquis, Washington, D.C.
www.nasp.com/annualmeeting
Early Bird Registration Discount Ends June 30.

The National Association of Specialty Pharmacy (NASP) returns to Washington, D.C. on September 27-30 for the National Association of Specialty Pharmacy (NASP) 2021 Annual Meeting & Expo. The 2021 event will welcome attendees to a new conference venue—the beautiful and modern Marriott Marquis, located in the heart of downtown Washington, D.C.

Register today for this premier industry event! Discounted registration rates are available through June 30.

The NASP 2021 Annual Meeting & Expo will challenge and inspire attendees, sponsors, and exhibitors to Reimagine What’s Possible. We will focus on looking at our world differently—reimagining our teams, families, patients, business, the patient journey and ourselves. We will appreciate who we are at our best and understand the power of our presence. Join us to engage in interactive learning, share best practices, explore potential partnerships and synergies, and foster connectivity in a personalized, intimate setting.

The conference agenda is jam packed and offers something for everyone, whether you are new to the industry or a seasoned expert. Conference highlights include:

• Up to 15 hours of unique CE accredited educational sessions and panel discussions, organized into four dynamic tracks to help you focus on what is most important to you
• Encore presentations of the most popular sessions
• THREE KEYNOTE PRESENTATIONS
• Justin Patton, executive coach, will lead the conference in challenging attendees to Reimagine What’s Possible.
• Monica Pearson, distinguished journalist and humanitarian, and the first woman and first minority to anchor the daily evening news in Atlanta, Georgia.
• Montel Williams, an Emmy Award winner, decorated former naval officer, inspirational speaker, author, entrepreneur, multiple sclerosis patient, and advocate for patients worldwide.
• Four pre-conference workshops: the CSP Exam Preparation Course, Legal Day, Technology Day and Hospital/Health Systems Workshop (additional fee required for workshops)
• Dynamic Exhibit Hall featuring exhibitors representing stakeholders from across the specialty pharmacy industry
• The ever-popular Women in Specialty Pharmacy Luncheon, featuring motivational keynote speaker Amelia Rose Earhart
• CE satellite symposia
• Poster presentations and author discussions
• NASP Annual Meeting Awards presentations—including three new awards—the Caregiver of the Year award, the Pharmacist of the Year award, and the Pharmacy Technician of the Year award
• The NASP Ron Bookman Scholarship Awards
• Direct interaction with industry thought leaders and experts
• Ample networking opportunities
• Odyssey Dinner Cruise, an upscale dining and network experience along the Potomac River (additional fee required)

The safety of our guests is NASP’s top priority. We continue to work with federal, state, and local health officials to strictly adhere to current rules and requirements and do everything possible to protect the health and safety of all attendees.

Register today for this important industry event! Discounted registration rates are available through June 30.

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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.

Today’s guest post comes from Nathan Mott, President of CoverMyMeds.

Nathan discusses how technology can augment human expertise to help people access, afford, and adhere to their medications.

To learn more, download CoverMyMeds’ new solutions overview: Technology Helps Drive Medication Access, Adherence and Affordability.

Read on for Nathan’s insights.

McKesson recently released the annual report for its 2021 fiscal year, which ended on March 31.

The report provides fresh insights about the company’s business with CVS Health, its largest customer. As you will see, CVS purchased $50 billion in pharmaceuticals from McKesson—more than triple the figure from 10 years ago.

The report also reveals that CVS Health paid McKesson in about 24 days, providing the wholesaler with an often-overlooked cash flow benefit. In fact, McKesson’s overall business had a negative cash conversion cycle. That’s essential for a low margin distribution business.

Below, I delve into the financials behind these two elements of the McKesson-CVS relationship. You’ll understand why CVS is McKesson’s worst best friend.

Join me for DCI’s upcoming live video webinar, Drug Channels Update: 340B Controversies and Outlook , on June 25, 2021, from 12:00 p.m. to 1:30 p.m. ET. CLICK HERE TO LEARN MORE AND SIGN UP.

Dr. Adam J. Fein, CEO of Drug Channels Institute (DCI) and the author of Drug Channels, invites you to join him for his latest live video webinar:


This event is part of The Drug Channels 2021 Quarterly Video Webinar Series. Anyone who registered for the entire series will receive an email with a link to access the June event.

WHAT YOU WILL LEARN

Dr. Fein will help you and your team stay on top of the current trends and market developments. During the June 25 event, Dr. Fein will focus on the latest developments regarding contract pharmacies in the 340B Drug Pricing Program, including:

• Evolution of the 340B program

• Our 2021 analysis of the 340B contract pharmacy market

• The flow of funds in a 340B contract pharmacy network

• How 340B impacts payers, plan sponsors, and PBMs

• How 340B disrupts manufacturer-PBM rebates

• Current program administration controversies

• The latest manufacturer actions and covered entity responses

• How to make sense of ongoing litigation

• Policy options and actions

• Possible resolutions to the contract pharmacy conflict

• And more!

PLUS: During the webinar, Dr. Fein will give participants an opportunity to unmute themselves and ask live questions. The webinar will be 90 minutes to accommodate audience questions.

The 340B Drug Pricing Program remains highly controversial. As always, Dr. Fein will clearly distinguish his opinions and interpretations from the objective facts and data.

Read on for full details on pricing and registration. You can also watch a brief video invitation.

Summer unofficially begins this weekend! Let’s turn up the heat with these sizzling news bites straight from the Drug Channels grill:

• Cardinal Health delivers fresh evidence of PBM profiteering from 340B contract pharmacies

• Pharma critics dare to acknowledge that benefit designs actually matter

• Pharmacists at retail chains are really stressed out

• Hospitals’ takeover of the physician market continues

Plus, more troubling patent news for owners of intellectual property.

P.S. Join the nearly 11,800 followers of my daily links to neat stuff at @DrugChannels on Twitter. You can also follow me on LinkedIn.

Today’s guest post comes from Karen Eckert, Senior Manager of Commercial Support for Clinical Effectiveness at Wolters Kluwer, Health. She also serves as co-chair of Maintenance and Control at the NCPDP.

Karen examines trends in drug development, pricing, and healthcare. She explains how coordinated intelligence can help businesses improve effectiveness in the new healthcare economy.

To learn more, download Six trends and tactics to thrive in the new healthcare economy, a free white paper from Wolters Kluwer.

Read on for Karen’s insights.

It’s time for Drug Channels Institute’s annual update of the number of U.S. specialty pharmacies. Fortunately, I had outstanding research assistance. (See photo at right.)

As you will note below, the specialty pharmacy industry remains quite diverse—despite the concentration of dispensing revenues within a small number of companies.

Our proprietary analyses have identified more than 1,200 locations that have achieved specialty pharmacy accreditation from one of the two major independent accreditation organizations.

Lexis Nexis Webinar: Using SDoH Data to Supercharge Outreach and Engagement
June 24, 2021 | 1:00 pm ET | Virtual Event

The shift to real-world evidence and real-world data has driven a significant transformation in healthcare. While EMR, medical, and pharmacy claims data is important and has traditionally been the main source of information for life science companies, that data doesn’t give a complete picture of the patient. Studies show that medical determinants are only accountable for 20% of healthcare outcomes, whereas social determinants of health account for as much as 50%.

Join experts from LexisNexis® Risk Solutions to:

• Learn how your organization can accelerate its growth by applying data and analytics
• Gain new insight into additional opportunities for R&D
• Support outreach efforts to targeted patient populations

A wealth of data can be extracted from vast sources of public records and proprietary data sources, but more data isn’t always better. Combining the right, clinically validated data points can transform your business and the outcomes you are working to improve.

Register for the June 24 LexisNexis webinar today.

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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.

Today’s guest post comes from Kyle Grimslid, Clinical Solutions Director at CoverMyMeds.

Kyle discusses the prescribing trends and policies that emerged in 2020. He highlights the growing importance of pharmacists and the role of technology in improving patient access, affordability, and adherence.

Read more in CoveryMyMeds’ 2021 Medication Access Report: Legislative and Regulatory Edition. (free download)

Read on for Kyle’s insights.