Key Takeaways from the Health Systems & Pharma Partnering Summit 2023
Archbow's Douglas Bock, Kevin Cast, and Paul Furgal recently attended Informa's 2023 Health Systems & Pharma Partnering Summit and returned with plenty of insights for market access professionals. The conference brought together multiple stakeholders from the pharmaceutical industry and the opportunity to connect on several hot industry topics.
Alongside Tanmayi Gupta, Associate Director of Specialty Pharmacy at Boston Medical Center, and Kathy Oubre, Chief Executive Officer at Pontchartrain Cancer Center, Kevin Cast led a General Session on stage on Healthcare Priorities and Strategies. You can watch a recording of that session here.
After meeting with many partners and potential clients, we gleaned a few essential takeaways to share:
The Inflation Reduction Act (IRA) will significantly impact the pharmaceutical market. The IRA contains measures designed to increase access to health care and reduce financial burdens for seniors and low-income beneficiaries. These measures will likely affect manufacturers. Plan to feel an impact from the IRA, even if you aren't selected for negotiation. You must get prepared now! Read more in our recent blog post.
Working with Integrated Delivery Networks (IDNs) and Health System Specialty Pharmacies (HSSPs) is still a significant challenge. IDN Network Administrators may be a potential solution, but even these entities aren’t the total solution. According to our past blog post, each IDN has its unique value drivers and influences; therefore, segmentation and influence mapping is critical to ensure that the right levers are pulled.
Pharmacy Benefit Managers (PBMs) exert even more control in their vertical integration efforts. The newest copay programs being offered by the PBMs are a questionable option for most pharma products and organizations. For manufacturers, there’s a careful balance between access and control. Product profiles and specific clinical characteristics should drive the final decision on a program strategy and related network.
Exchanging data for access to limited distribution specialty products is no longer a viable option for manufacturers. This practice goes against Fair Market Value (FMV) principles. Archbow Consulting experts recently detailed four FMV contracting best practices for achieving financial savings and long-term protection for manufacturers and SPs.
The Must-Have Contracting Guide for Specialty Pharmacy Services whitepaper:
Details the difference between core and enhanced services
Ensures all stakeholders understand Fair Market Value
Provides critical steps to align contracts successfully
Offers a consistent process for annual contract evaluations
As manufacturers prepare for the launch of a new product or re-evaluate their current program, a highly coordinated network strategy developed by a pharmaceutical consulting company with deep industry connections is often the soundest approach.
If any of these hot topics resonate with you or you need to re-evaluate your business strategy, Archbow can help. We have the right advisors with decades of commercial planning experience to make a difference in your commercialization efforts.
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Archbow Consulting helps pharmaceutical and biotech companies in the USA and Europe reach their commercial goals with strategic and tactical approaches to distribution, pharmacy, and patient access. Archbow was founded by industry veterans to meet a need in the marketplace for consulting options that offer diverse real-world experience, are able to leverage deep connections across the industry, and can also provide actionable strategic guidance. We invite you to learn more about our team, services, and clients’ success, and connect with us via email, LinkedIn or subscribing to this blog which you can do below.