Scientific advancements have created miracle cures for seemingly intractable diseases—along with astronomic price tags. Now, a new trend is exciting pharma, payers, physicians, patients and even analysts: linking drug reimbursement to patient outcomes. As this payment structure expands beyond chronic disease into specialty disease, how do you decide what a drug is worth?
Continuing to provide the highest level of thought leadership to healthcare innovators, Precision has been asked by the AMCP to lead a special corporate training program on unlocking opportunities in value-based contracting.
Managed Healthcare Executive asked 9 industry leaders—including Precision for Value experts Maureen Hennessey, Senior Vice President, Director of Value Transformation; Elizabeth Oyekan, Senior Advisory & Director, Quality and Population Health Solutions; and Linda Bolland, Senior Advisor—to share a must-read book (Hennessey shares three). The answers range from new fiction to business classics, but all give fresh insights into the healthcare industry.
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Global Data News asks who will benefit from the new HHS proposal. Andrew Cournoyer, Precision for Value Vice President, Director, Payer Access Solutions, sees a potential boon for biosimilars and other lower-priced therapies and overall savings for those on expensive drug regimens.
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In a special feature focused on drug pricing solutions and value, PharmaLive’s Christiane Truelove talks with Precision subject matter experts Jeremy Schafer and Jason Shafrin, who offer their perspectives on the complex landscape.
HHS has proposed a new rule targeting drug rebates given by pharmaceutical manufacturers to sponsors under Medicare Part D, Medicaid MCPs and the PBMs contracting with them. Todd Edgar, Precision for Value Senior Vice President, shares his insights in Radar on Specialty Pharmacy.
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What will the pharma industry see in 2019? Market Access Spotlight asked five industry leaders, including Jeremy Schafer, PharmD, MBA, Senior Vice President of Specialty Solutions at Precision for Value. Answers start with groundbreaking therapies coupled with concerns about pricing and explore the aftermath of mergers and other industry inflection points.
What is the ripple effect of proposed pricing rules in American Patients First? Todd Edgar, Precision for Value Senior Vice President and former top PBM executive, shares his unique insights in Pharmaceutical Commerce. Spoiler: The revision won’t work for everyone.
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New Practice Will Focus on Accelerating Value-Based Programs to Improve Healthcare Delivery and Patient Outcomes
NEW YORK, NY – January 24, 2019 – Precision for Value, part of Precision Value & Health, announced the formation of the Value Transformation Practice, a novel initiative to equip life sciences companies with actionable strategies, solutions, and partnerships to succeed in an increasingly value-based healthcare environment. Leading the new practice and building upon Precision’s commitment to offer its clients the most creative and innovative healthcare solutions, Dr. Maureen Hennessey, PhD, CPCC, CPHQ, has been promoted to Senior Vice President, Director of Value Transformation.
In today’s rapidly evolving healthcare ecosystem, it is imperative for manufacturers to have access to the latest knowledge, tools, and innovations to adapt and thrive in the next generation of value-based care. The Value Transformation Practice will enable Precision’s life sciences clients to be active participants in shaping the changing healthcare landscape and deliver value in today’s currency: better patient experience, lower costs, and improved population health.
Near-term priorities include the implementation of customized education and training programs, quality and population health offerings, and value-based care insights forums. Longer-term, initiatives will address the seismic shifts in healthcare systems and ensure that patients will have access to the latest and most innovative treatments available.
“The adoption of new, innovative therapies often takes too long—spanning years from the start of evidence-based study to full evidence-based practice,” explains Dr. Hennessey. “However, lives are at stake and many patients in need just don’t have that much time. By enhancing customer acumen related to value-based innovation, technology, and expertise, the development and implementation of life-changing therapies can be accelerated to deliver better care. In pursuit of that goal, I’m very excited to lead the Value Transformation Practice and guide our clients towards next-generation strategies and solutions that will lead to multi-dimensional transformations across the entire healthcare delivery system.”
Dr. Hennessey has led the development of more than 500 strategic quality initiatives with 35 clients in 17 therapeutic areas and served as quality management expert for the launching of Precision’s proprietary quality measure navigation and performance aggregation tool, QnavTM. Under Hennessey’s executive leadership, organizations have received recognition from the National Alliance of Healthcare Purchaser Coalitions (formerly the National Business Coalition on Health), the National Committee for Quality Assurance (NCQA), and the National Academy of Medicine (formerly the Institute of Medicine).
“Strategic innovations are critical to who we are as a company,” commented Dan Renick, President of Precision Value & Health. “In her new role at the helm of Precision’s Value Transformation Practice, Maureen is uniquely qualified to be a potent catalyst in assisting current and future biopharmaceutical innovators to develop forward-thinking, value-based programs, and we are excited to be able to apply her decades of experience and leadership to this important endeavor.”
About Precision for Value
Precision for Value supports commercial excellence for global pharmaceutical and life sciences clients through the demonstration and communication of product value and outcomes. The Precision for Value teams provide clients with services grounded in decades of industry knowledge, demonstrated analytics proficiency, and marketing and communications prowess—making Precision for Value the preferred strategic partner in the industry. Precision for Value is part of Precision Value & Health, the leading partner to pharmaceutical and life sciences companies in improving health outcomes by establishing the value of medical innovations and expanding global market access for patients. For more information, please visit: precisionforvalue.com
In a special commentary appearing in STAT News, Jacki Chou, Senior Director, Policy & Economics, and her co-author discuss overcoming 5 critical challenges in the US biosimilars marketplace, offering some strategic policy recommendations for the consideration of key healthcare stakeholders.