Teva CFO to present at Barclays conference
JERUSALEM — Teva Pharmaceutical Industries will sponsor a live audio webcast at the 2013 Barclays Global Healthcare Conference on Thursday, the Israeli generic drug maker said Tuesday.
Teva CFO Eyal Desheh will present. The company is one of several scheduled to present at the conference this week.
The webcast will be available on the company’s website and is scheduled to begin at 9:30 Eastern time. An archive of the webcast will be available afterward.
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Diplomat Specialty Pharmacy CEO Phil Hagerman joins NASP board
TAMPA, Fla. — Diplomat Specialty Pharmacy CEO Phil Hagerman has joined the board of directors of the National Association of Specialty Pharmacy, the group said Tuesday.
The NASP also noted that Diplomat had joined it as a founding member. Diplomat is the largest privately-owned specialty pharmacy in the country, with revenues exceeding $1.1 billion in 2012.
"Specialty pharmacy is a rapidly growing sector of the pharmacy industry, and I am honored to serve on the board of an organization dedicated to building partnerships that will identify challenges and advance our common goals," Hagerman said. "Collaboration is essential to improving the care that our patients need and deserve."
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Congress addresses the elephant in the room: Cost savings yielded by pharmacy-based MTM
A 12-to-1 return on investment. That’s what researchers in Minnesota estimated public and private health plan payers can get when they pay pharmacists to provide medication therapy management.
As reported by the Journal of the American Pharmacists Association, the study of 285 beneficiaries enrolled in Blue Cross Blue Shield of Minnesota found that every dollar invested in the delivery of MTM by community pharmacists yielded more than $12 “in total annual health expenditures.” Another MTM project in North Carolina, this from Kerr Drug, yielded a return on investment of 13-to-1. And that’s just the economic benefit. Both programs also led to healthier patients and better outcomes, particularly for chronic conditions like diabetes and hypertension.
For those advocating more support for pharmaceutical therapy and pharmacy-based health services, here’s another nugget: The Congressional Budget Office projected last fall that every 1% increase in overall prescription drug utilization cut overall health costs by $1.7 billion.
Last week, the National Community Pharmacists Association and the National Association of Chain Drug Stores cited the Minnesota and Kerr Drug results in praising a new effort in Congress to promote wider adoption and use of pharmacist-provided MTM. As reported by Drug Store News senior editor Michael Johnsen, both the chain and independent pharmacy lobbies strongly endorse the Medication Therapy Management Empowerment Act of 2013, sponsored by Reps. Cathy McMorris Rodgers [R-WA.] and Ron Kind [D-WI.]. The bill would expand the pool of patients who qualify for MTM programs through Medicare.
Introducing the bill March 7, McMorris Rodgers correctly pointed out that “more than half of all patients do not take their medications correctly, and seniors are particularly vulnerable.
“These health risks and the exorbitant costs associated with them can be substantially reduced if MTM is expanded," she continued. "This bill will reduce costs and promote overall health for seniors … all across America.”
This isn’t the first time federal lawmakers have tried to leverage the power of pharmacists to boost patient outcomes and drive cost savings through MTM and drug adherence programs; a similar bill was floated in 2010. Let’s hope the message gets through this time.
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It's about time Congress and the Healthcare System overall recognize how valuable and critical we are is lowering costs and saving lives