Rising Drug Costs

Welcome to this FDA/CMS Summit for Payers podcast.

Below is a teaser from our podcast with Bill Winkenwerder, Former CEO, Highmark Inc.

Access the complete podcast and transcript here.

How should manufacturers determine drug prices and what consideration should there be?

Bill: Well, certainly manufacturers need to recover their costs – their investment in R&D – and it’s important that they make a profit. Nobody can be in business for any period of time without being able to make a profit. Now, more recently – especially with respect to certain manufacturers that have brought very expensive medications to the market – have been criticized and have been identified as charging too much. That’s the common perception, but I see the immediate evidence that the prices for these medications – given the relatively small population of people that would benefit from them – that there is a serious over-charging that’s going on. But, certainly we need to sit down and talk and determine if there is a better way to arrive at the price. What is a fair price? What is a good, market-based price? That’s what this Conference is about.


To see more from Dr. Winkenwerder, download the complete podcast here.

Download the updated event brochure here. 

Bill will be joining us at the FDA/CMS Summit for Payers in Washington D.C. for his closing keynote address "An Industry Perspective: Payment Policy for Clinically Valuable But Very Expensive Pharmaceuticals" on Friday December 12th.

Register now to save an extra $100 off the current rate with the code XP1917BLOG.

See you in Washington D.C.

What is the problem surrounding the emergence of new medications?

 

Welcome to the FDA/CMS Summit for Payers podcast series.

Below is a teaser from our recent podcast with Bill Winkenwerder, Former CEO, Highmark Inc. 

Access the complete podcast and transcript here.

Could you tell us a little bit about your background?

Bill: I trained as a Primary Care Physician and practiced for several years. I then became interested in the management of healthcare and population health. That led me to many years as a Medical Director and Chief Medical Officer and then as a Chief Operating Officer and then CEO. For several years I led the Military Health System – a very large job. I had the responsibility of caring for millions of American service members and their families. Most recently, I served as CEO of Highmark Health, which is a large, integrated healthcare delivery system.

Is there a problem with respect to the emergence of new medications that are truly effective for serious and life-threatening diseases, yet these medications are very expensive?

Bill: Yes, there is a problem. The problem is that the drugs are expensive. The problem is not that they are ineffective. In fact, that’s our challenge, that there are some really, truly, miraculous new medications that have come on the market and are going to be coming on the market in upcoming years. Targeted therapy – guided therapy – guided by pharmacokinetics and information that tells us exactly where to target the therapies. But, the problem is that these medications are expensive to develop. The pharmaceutical manufacturers have invested hundreds of millions – if not billions – of dollars into developing these medications and it’s important that they recover their costs.

So, it really does present a challenge for all of us – the pharmaceutical manufacturers, the providers, payers and government policy makers.

Download the complete podcast and transcript here.

Bill will be joining us at the FDA/CMS Summit for Payers in Washington D.C. for his closing keynote address "An Industry Perspective: Payment Policy for Clinically Valuable But Very Expensive Pharmaceuticals" on Friday December 12th. 

Register now to save an extra $100 off the current rate with the code XP1917BLOG.

See you in Washington D.C.

Your First and Only Chance to Hear the FDA & CMS Address Payers and Pharma Under One Roof

 

Introducing the FDA/CMS Summit for Payers

The Full Agenda is Now Available | Download Now! 

 
 
Hear the challenges and opportunities on key issues in order to succeed in a patient-centric environment. Plus:

• Get face-to-face access to the top regulatory thought leaders and policy makers from FDA and CMS
• Hear about critical trends and changes so you can create successful strategies for dealing with FDA and CMS
• Walk away with practical, real life lessons from some of the most experienced payers and healthcare executives on how they are dealing with the changes
• Benchmark your operational, regulatory and strategy against all the major health plans

Meet Regulators from FDA and CMS:

• Janet Woodcock, MD, Director, Center for Drug Evaluation and Research, FDA
• John K. Jenkins, MD, Director of the Office of New Drugs, Center for Drug Evaluation and Research, FDA
• Tamara Syrek Jensen, JD, Deputy Director, Coverage and Analysis Group (CAG), CMS
• Niall Brennan, Acting Director, Offices of Enterprise Management (OEM), CMS


Collaborate with C-Level Healthcare Leaders:

• Dr. Trent T. Haywood, MD, JD, Chief Medical Officer & SVP, Office of Clinical Affairs, Blue Cross and Blue Shield Assc.
• Dr. Claire Levesque, Chief Medical Officer for Commercial Products, Tufts Health Plan
• Dr. Richard Migliori, MD, Executive VP, Medical Affairs, Chief Medical Officer, UnitedHealth Group
• David Polakoff , MD, M.Sc, Chief Medical Officer & Associate Dean, Commonwealth Medicine Director, Center for Health Policy and Research, University of Massachusetts Medical School   
• William Winkenwerder, Jr.,  Former CEO, Highmark, Inc.
• Kevin Volpp, MD, PhD, Founding Director, Center for Health Incentives and Behavioral Economics, Leonard Davis Institute


Register now with the code XP1917BLOG and take an additional $100 off the current rate - $500 in total savings. Register here.