MDRP 2013 Track 2: Finance

This week we'll be featuring MDRP 2013 event posts from our content partners, Huron Life Sciences. Today's author, Dana Zelig, recaps our Track 2 Session: Finance 

As anticipated, attendance at MDRP 2013 was both impressive and diverse, with delegates from pharma manufacturers, external counsel, consultants and system providers, state Medicaid agencies, and Federal programs. To keep so many people interested and engaged, IIR organized Tuesday afternoon’s sessions to allow attendees to move seamlessly between tracks to catch presentations on their hot topics, or by their favorite presenters. This was evident in the Financial Implications to Government Pricing Programs track, where the dynamics of the room changed with each session.

David Chan and Ari Ilan from IMS Health provided their insights on the commercial process and how it impacts GP. Sometimes, especially at large organizations, people are put in a silo and have little visibility to processes outside of theirs. But as IMS outlined, Commercial and GP must go hand in hand to maximize profitability and reduce risk.

Jennifer Lospinoso of KPMG spoke about her experience assisting pharma clients with Accruing and Forecasting. Her insight extended not just to traditional accruals performed by Finance functions, but also to incorporating Medicaid payments, and preparing for the AMP Final Rule.

Jennifer Norton of Vertex Pharmaceuticals discussed the difference between Fee for Service and Managed Care Organization rebates, and how it can impact manufacturers. She emphasized the importance of looking at these rebates from all angles, because they are viewed differently by people in different parts of your organization. It’s an issue that could affect people at every level of your organization, so make sure you know what questions to ask.

Stephen Ruscus from Morgan Lewis presented on the Branded Prescription Drug Fee, and provided background on the genesis of the fee as well as steps for calculating it. He fielded questions from manufacturers with very real concerns about where to get the data they needed to perform the calculations.

Finally, Chris Cobourn of CIS wrapped up the track by giving the GP professionals in the room the steps they need to stand on their GP soapbox and take ownership of requirements impacting their organizations. He aptly noted that even though we are waiting for the AMP Final Rule, we are by no means sitting on our hands with nothing to do. We are busy now, and we’re going to get busier once the Final Rule comes out, so we might as well get our ducks in a row.