Former Genentech COO appointed to Rite Aid board of directors
CAMP HILL, Pa. — Rite Aid has appointed healthcare executive Myrtle Potter to its board of directors, the retail pharmacy chain said Tuesday.
Potter is currently CEO of Myrtle Potter & Co., a Silicon Valley-based consulting firm focused on life sciences and health care, as well as the head of consumer healthcare content company Myrtle Potter Media. She previous served as president of commercial operations and COO at Genentech and has worked at companies like Bristol-Myers Squibb and Merck.
"We are pleased that Myrtle has accepted a position on our board," Rite Aid chairman and CEO John Standley said. "Her extensive knowledge and leadership in health care, particularly in the pharmaceutical industry, will add an important dimension and perspective to our board as we assess how to most effectively grow our business and meet the health and wellness needs of our consumers in a rapidly changing and evolving healthcare environment."
GSK’s Christophe Weber elected as COO of Takeda
OSAKA, Japan — Takeda Pharmaceutical Co., the largest drug maker in Japan, has hired the head of GlaxoSmithKline’s vaccines division as its COO, Takeda said.
Christophe Weber was elected at the drug maker’s board of directors meeting to become COO and candidate as the next CEO. Current president and CEO Yasuchika Hasegawa is expected to be named chairman and CEO.
Weber is currently president and general manager of GSK Vaccines, CEO of GSK Biologicals in Belgium and a member of GSK’s global corporate executive team.
"We have extremely high expectations for Mr. Weber’s contributions to further enhance and accelerate the implementation of Takeda’s global strategy based on his extraordinary and broad business experiences, including an impressive track record in top global pharmaceutical companies," Hasegawa said.
Cardinal Health enhances its Reimbursement Consulting Services offering
DUBLIN, Ohio — Cardinal Health recently enhanced its Reimbursement Consulting Services offering, which helps retail pharmacies ensure the accuracy of third-party reimbursement by identifying reimbursement errors and recommending strategies for correcting them, the wholesaler announced Tuesday.
According to the NCPA Digest, sponsored by Cardinal Health, independent pharmacies derive 92% of their revenue from prescription reimbursements. However, a number of factors can impact a retail pharmacy’s ability to ensure they receive the reimbursement they’re owed.
For example, a change in the average wholesale price of a specific medication can cause pharmacies to be reimbursed at an incorrect rate for that specific medication. Pharmacy technicians can enter incorrect medication quantities, causing the pharmacy to be reimbursed for a lower amount of medication than it dispensed. Pharmacies also often miss opportunities to recommend generic substitutions, which usually offer cost savings to patients and higher reimbursements for the pharmacy.
Cardinal Health’s Reimbursement Consulting Services addresses these challenges by reviewing data for all medications dispensed at a specific pharmacy, and flagging transactions that were inaccurately reimbursed. This service also provides access to bi-weekly phone consultations with a personal reimbursement advisor, who can help pharmacy owners understand which reimbursement errors can be corrected immediately through simply reversing and rebilling’ the claim, and which may require staff or other training to address over time.
Based on direct customer feedback, Cardinal Health recently introduced the following enhancements to its Reimbursement Consulting Services:
- Users can now access reimbursement reports via an intuitive online portal;
- Users can now access six new reports, three of which alert users of reimbursements that might cause specific types of audit risk. Other new reports include those that highlight a pharmacy’s highest profitability prescriptions or drug categories, and those that inform customers about changes in NDCs for specific medications;
- Users can also choose Excel spreadsheet or PDF as their report format. This functionality allows users to sort or filter data based on a number of criteria, ranging from size of reimbursement opportunity to reimbursement claims by specific payor; and
- Users who operate multiple stores can now also access reimbursement reports for each individual store, providing the opportunity to identify where additional, targeted training may be needed to ensure staff members understand how to avoid reimbursement errors.