Here’s a scenario: Department leaders across the health system are meeting to look for untapped sources of incremental revenue. They hope to find a traditional cost center that could become a strategic asset. An added bonus would be if it also enabled them to gain influence over patient care after discharge. Any ideas? I have one — specialty pharmacy.
In 2015, 90 people died each day from an opioid overdose. If you subtract deaths attributed to heroin and synthetic opioids, such as illicitly manufactured fentanyl, the number drops to 42 deaths per day. That is still 42 deaths daily from drugs that were prescribed by a licensed health care professional. How did we get here?
If you look up the word “orphan” in the dictionary it is commonly used to convey loss and abandonment. However, when orphan is used in the pharmaceutical industry, it conveys dollar signs. Big dollar signs.
The world’s 10 most expensive drugs are all classified as orphan drugs and the orphan drug market is expanding rapidly. Projected worldwide sales are expected to outpace conventional drugs by twofold over the next six years. Moreover, orphan drugs are projected to account...
The FDA recently achieved two significant firsts in one approval. On April 21, the FDA licensed infliximab-abda (Renflexis; Samsung) for marketing. While this product represents the fifth biosimilar approved in the United States, it is the first one licensed without the FDA conducting an advisory committee hearing prior to final endorsement. It is also the first time that a second biosimilar was approved for the same reference product infliximab (Remicade; Janssen Biotech).
Given the challenge of achieving agreement on any issue in Washington, D.C., especially on topics involving health care, we should pause and celebrate situations where bipartisan behavior may be taking hold.
In my experience on the contracting side of pharmacy, I have yet to see an industry landscape quite as volatile and intriguing as the one we currently find ourselves navigating. As such, Vizient goes to great lengths to predict what’s coming down the pike in terms of trends, marketplace fluctuations and pricing variations, not just for our own organization, but to illuminate the landscape for our members as well.
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