3 ways to reform the pharmaceutical industry - MedCity News

Pharmacy managers are in the news a lot lately as they are an important component of the ongoing debate about drug prices in this country. Consolidation, legislation and litigation fill the sector.

On the upcoming INVEST Digital Health Conference in Dallas set for September 28, in collaboration with Hi Wildcatters, a panel discussion on the future of pharmacy benefits managers will be part of the larger conversation about employee benefits. One of the contributors to this discussion is AJ Loiacono, CapitalRx CEO. In response to emailed questions, he shared three things he would do to reform pharmacy management:

Creation of a public register of the “clean” prices of medicinesso that consumers and employers never again benefit from the block box of drug pricing.

Eliminating rampant drug pricing. No one should make money by overcharging for medicine, especially in a system where price is already an illusion (see point #1)

Eliminate the ability for brokers and consultants to get paid by carriers, PBMs and other point solutions. No one should be paid to recommend a health product, it creates a terrible conflict of interest. Any fee for consulting or placing a PBM business must be reasonable, fully disclosed and paid by the payer in a separate account (employer group)

Register now for INVEST Digital Health and be part of the conversation on drug pricing reform and topics ranging from coast-to-coast investment trends to technology tools helping employers lower healthcare costs. There will also be our startup pitch competition, Pitch Perfect, which will focus on startups developing technology aimed at employee benefits. To see the full agenda, Press here.

Among the speakers scheduled to participate in the conference are:

  • Dr. Mona Flores, Global Head of Medical AI, NVIDIA
  • Hubert Zajicek, co-founder and partner, Health Wildcatters
  • Jason Considine, Chief Commercial Officer, Experian Health
  • Adrian Rodriguez, Vice President of Quality and Safety, Mark Cuban Cost Plus Drug Company, PBC
  • Joshua Fredle, Head of PBM and Specialty Product Innovation, CVS Caremark
  • Adam Dakin, Partner, HealthTech, Dreamit HealthTech

photo: Devrimb, Getty Images

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