NADAC

Association of Affiliated Pharmacies and Apothecaries (AAPA) Flexes Political Muscle in Lansing, Launches Michigan Health Access Alliance PAC

Retrieved on: 
Friday, December 8, 2023
Health, Human, Medicaid, NADAC, Legislation, AAPA, Patient, House, American Animal Hospital Association, MCO, WAC, Pharmacy, Human services, Wholesale acquisition cost, PBM, Hospital, Health care

LANSING, Mich., Dec. 8, 2023 /PRNewswire/ -- Today Governor Gretchen Whitmer signed House Bill 4276, legislation that will increase transparency and lower costs in a victory for patients across the state. This legislation had broad bipartisan support in the legislature and was championed by independent pharmacies and patients alike, with the AAPA and newly-launched Michigan Health Access Alliance PAC leading the way in Lansing.

Key Points: 
  • This legislation had broad bipartisan support in the legislature and was championed by independent pharmacies and patients alike, with the AAPA and newly-launched Michigan Health Access Alliance PAC leading the way in Lansing.
  • "The Michigan Health Access Alliance PAC is just getting started in its work to protect local pharmacies in local communities - and this legislation is a victory for patients across Michigan."
  • Launched in late 2023, the Michigan Health Access Alliance PAC (MHAA-PAC) is the voice of patients and independent pharmacies in Michigan.
  • This critical legislation was supported by the Association of Affiliated Pharmacies and Apothecaries (AAPA), Michigan Pharmacists Association, Independent Pharmacy Cooperative, National Community Pharmacists Association, Michigan Nurses Association, Arab American Pharmacist Association, Michigan Health and Hospital Association and others.

Study: PBMs setting wildly variable prescription prices for patients at the counter, per APCI

Retrieved on: 
Tuesday, September 19, 2023
Attention, Drug, General counsel, APCI, Health care, Pharmacy, National Average Drug Acquisition Cost, PBM, Congress, GAO, Acquisition, Patient, FTC, Map, Data, Medicare Payment Advisory Commission, NADAC, Pharmaceutical industry

Additionally, the study reveals wild swings in prescription pricing set by PBMs and charged to patients.

Key Points: 
  • Additionally, the study reveals wild swings in prescription pricing set by PBMs and charged to patients.
  • The study was performed by data analytics firm 3 Axis Advisors and was sponsored by American Pharmacy Cooperative, Inc. (APCI).
  • The study is replete with examples of variability and the arbitrariness of PBM-set drug prices.
  • Simply put, the system is broken, and PBMs can no longer be trusted to set drug prices."

Samsung Bioepis Releases its First US Biosimilar Market Report, Providing Insights on Pricing Trends and Usage Across Molecules

Retrieved on: 
Monday, April 17, 2023
Epoetin alfa, Rituximab, Bevacizumab, ASP, Insulin, CMS, ASPS, Centers for Medicare & Medicaid Services, Biosimilar, Trastuzumab, Adalimumab, Insulin glargine, Market access, Samsung, Pegfilgrastim, Immunology, National Average Drug Acquisition Cost, WAC, Acquisition, Infliximab, Ophthalmology, Filgrastim, NADAC, Pharmaceutical industry, Generic drug

The first quarterly report details the most recent price trends of all molecules for which biosimilars have launched, along with insights into interchangeability of biosimilars.

Key Points: 
  • The first quarterly report details the most recent price trends of all molecules for which biosimilars have launched, along with insights into interchangeability of biosimilars.
  • “The first edition of Biosimilar Market Report from Samsung Bioepis reveals that market competition stimulated by the introduction of biosimilars in the US has contributed to significant price reductions in the biologics market.
  • However, the level of biosimilar usage varies by molecule, with some still taking less than 50% of the market share.
  • Insulin glargine and adalimumab categories reflect recent pricing practices such as unbranded biologics and high/low wholesale acquisition cost (WAC) options.

APCI Endorses the Drug Price Transparency in Medicaid Act

Retrieved on: 
Tuesday, March 21, 2023
Drug, Health, General counsel, Pharmacy, APCI, Tricare, National Average Drug Acquisition Cost, Medicare Part D, Plasma protein binding, Medicare, PBM, Congress, Pharmacist, Patient, House Republican Conference, NADAC, Conference, Legislation, Pharmaceutical industry, Health insurance, Medicaid

BESSEMER, Ala., March 21, 2023 /PRNewswire/ -- American Pharmacy Cooperative, Inc. (APCI) announced today that it heartily endorses the Drug Price Transparency in Medicaid Act, a bipartisan bill introduced in Congress last week that seeks to end significant pharmacy benefit manager (PBM) excesses affecting prescription drug pricing in Medicaid managed care.

Key Points: 
  • BESSEMER, Ala., March 21, 2023 /PRNewswire/ -- American Pharmacy Cooperative, Inc. (APCI) announced today that it heartily endorses the Drug Price Transparency in Medicaid Act, a bipartisan bill introduced in Congress last week that seeks to end significant pharmacy benefit manager (PBM) excesses affecting prescription drug pricing in Medicaid managed care.
  • The Drug Price Transparency in Medicaid Act will put an end to spread pricing practices in Medicaid, saving taxpayer dollars while at the same time reimbursing pharmacies transparently and fairly while caring for state Medicaid patients across the country.
  • "This legislation is a win for taxpayers, patients, pharmacies, and advocates of transparency in the prescription drug marketplace," said APCI CEO Tim Hamrick.
  • APCI is committed to aggressively fighting for the passage of this legislation and calls on community pharmacists and other stakeholders to mobilize and support the passage of the Drug Price Transparency in Medicaid Act.

Capital Rx Receives Validation for Savings from Validation Institute - New Groups Experience Significant PMPM Cost Trend Improvement

Retrieved on: 
Thursday, December 8, 2022
Doctor of Pharmacy, PBM, PMPM, Patient, Prescription, Validation, NADAC, Multimedia, Social change, Pharmacy, Finance Secretary (India), Cryptocurrency

Validation Institute determined that groups using Capital Rx for their PBM solution do, on average, experience lower costs per member per month (PMPM) than they had with their prior PBM in the first one to two years with Capital Rx.

Key Points: 
  • Validation Institute determined that groups using Capital Rx for their PBM solution do, on average, experience lower costs per member per month (PMPM) than they had with their prior PBM in the first one to two years with Capital Rx.
  • Earlier this year, Capital Rx was awarded Validation for Contractual Integrity by Validation Institute, which certified the transparency of Capital Rx's model contract.
  • "Capital Rx excels in providing their employer group customers with transparency and cost savings, and we stand behind them with our Financial Credibility Guarantee."
  • Validation Institute is an independent, objective, third party organization on a mission to improve the quality and cost of healthcare.

Capital Rx Appoints Pharmacy Benefits Legal Expert Lloyd Fiorini as General Counsel and Chief Compliance Officer

Retrieved on: 
Tuesday, November 29, 2022
General counsel, Growth, Walgreens, Finance Secretary (India), Health care, Multimedia, Lawyer, PBM, UnitedHealth Group, Patient, NADAC, Association of British HealthTech Industries, Pharmacy, Fiorini, CVS Caremark, Fraud, Health insurance, Cryptocurrency

NEW YORK, Nov. 29, 2022 /PRNewswire/ -- Capital Rx , a healthtech company changing the way prescription drugs are priced and patients are serviced, today announced that Lloyd Fiorinihas joined the company as General Counsel and Chief Compliance Officer.

Key Points: 
  • NEW YORK, Nov. 29, 2022 /PRNewswire/ -- Capital Rx , a healthtech company changing the way prescription drugs are priced and patients are serviced, today announced that Lloyd Fiorinihas joined the company as General Counsel and Chief Compliance Officer.
  • He brings over 25 years of legal experience in healthcare and pharmacy to help steer Capital Rx through rapid growth.
  • Fiorini joins from UnitedHealth Group's OptumRx, one of the largest pharmacy benefits management (PBM) companies in the industry, where he served as Deputy General Counsel.
  • "It's an inspiring time to join Capital Rx and help bring much-needed change to prescription drug benefits management throughout our industry," Fiorini said.

Capital Rx Names Former Humana Executive Marcel White as its First Chief People Officer

Retrieved on: 
Tuesday, November 8, 2022
People, Senior, Acquisition, NADAC, Industry, Growth, Patient, CEO, NEW, Finance Secretary (India), Human resources, HR, PBM, Culture, ARAMARK, PBA, Leadership, Plasma protein binding, Efficiency, Solution, Multimedia, White, White's, Health insurance, Management, Cryptocurrency, Humana

White joins Capital Rx during a year of pivotal growth, highlighted by a $106 million Series C investment round that will fuel improvements in prescription management and healthcare infrastructure solutions.

Key Points: 
  • White joins Capital Rx during a year of pivotal growth, highlighted by a $106 million Series C investment round that will fuel improvements in prescription management and healthcare infrastructure solutions.
  • "Capital Rx is highly regarded for modernizing the way prescription drug benefits are managed," White said.
  • Before joining Capital Rx, White served as Head of Human Resources at CenterWell Senior Primary Care within Humana, the nation's largest senior primary care provider.
  • "Capital Rx has seen significant growth in 2022, and the year is not done yet," said AJ Loiacono, CEO and co-founder of Capital Rx.

Liya Lomsadze and Sara Ganz of Capital Rx Named Finalists in the 19th Annual Stevie® Awards for Women in Business

Retrieved on: 
Tuesday, September 27, 2022
NADAC, Efficiency, National Average Drug Acquisition Cost, Woman, Women in business, Sports broadcasting contracts in Middle East & North Africa, Stevie Awards, Customer service, Organization, Ernst & Young Entrepreneur of the Year Award, Company, Caesars Palace, Gold, Patient, Workplace, Collection, Conference, Pharmacy, Liya, Marketing, Multimedia, Automotive Executive of the Year Award, Entrepreneurship, Livestreaming, Mentorship, Female, Management, Film, Cryptocurrency, Pharmaceutical industry, Silver

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- Liya Lomsadze, Senior Project Manager, and Sara Ganz, Senior Director of Marketing of Capital Rx, have been named Finalists in the Female Employee of the Year category for the 19th annual Stevie® Awards for Women in Business. The two women embraced Capital Rx's mission of changing how prescription drugs are priced and patients are serviced.

Key Points: 
  • The Stevie Awards for Women in Business honor women executives, entrepreneurs, employees and the companies they run worldwide.
  • The Stevie Awards have been hailed as the world's premier business awards.
  • "In its 19th year, the Stevie Awards for Women in Business received a remarkable collection of outstanding nominations," said Maggie Miller, president of the Stevie Awards.
  • Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Middle East & North Africa Stevie Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service.

APCI: To Reduce Prescription Drug Costs, Congress Must Fix America's PBM Problem

Retrieved on: 
Wednesday, August 3, 2022
Medicare, Medicare Part D, NADAC, PBM, Eley, CMS, Patient, Prescription, Multimedia, Bandage, Legislation, Industry, Center, FTC, Policy, Senate, National Average Drug Acquisition Cost, Solution, Centers for Medicare & Medicaid Services, Congress, Pharmacy, Inflation, View, APCI, Pharmacist, Acquisition, Health insurance, Online shopping, Pharmaceutical industry, Medicaid

However, these provisions in the reconciliation bill are bandages on a broken prescription drug pricing system in the United States.

Key Points: 
  • However, these provisions in the reconciliation bill are bandages on a broken prescription drug pricing system in the United States.
  • No effort to "right the ship" can be complete if it does not address anticompetitive pharmacy benefit manager (PBM) practices that increase prescription drug prices and restrict patient choice and access to care.
  • But to do that, Congress should focus on PBM practices which continue to drive prescription price increases and keep patients from affording the lifesaving drugs that they need."
  • Established in 1984 and headquartered in Bessemer, Ala., APCI is proud to lead the fight for prescription drug pricing transparency and reform.

CDPHP Selects Capital Rx as New Pharmacy Benefit Manager

Retrieved on: 
Thursday, May 12, 2022
Physician, Capital, National Average Drug Acquisition Cost, CMS, Patient, PBM, Health, Wood, Elijah Cummings Lower Drug Costs Now Act, Pharmacy, NADAC, Efficiency, Industry, Partnership, Instagram, LinkedIn, Twitter, Clearing house, EPP, CEO, GLOBE, Risk management, Cryptocurrency, Hospital, Management, Facebook

Albany, NY, May 12, 2022 (GLOBE NEWSWIRE) -- CDPHP is thrilled to announce that Capital Rx has been selected as the health plans new pharmacy benefit manager (PBM).

Key Points: 
  • Albany, NY, May 12, 2022 (GLOBE NEWSWIRE) -- CDPHP is thrilled to announce that Capital Rx has been selected as the health plans new pharmacy benefit manager (PBM).
  • CDPHP has long sought a PBM partner that aligns with our mission, vision, and values, and I am proud to say we found the perfect fit with Capital Rx, said CDPHP chief pharmacy officer, Eileen Wood.
  • With Capital Rx, we have full transparency into the pharmacy supply chain and are able to innovate in ways that bring affordability, efficiency, and ease of use to all of our members.
  • CDPHP will leverage Capital Rxs intuitive, cloud-native, enterprise pharmacy platform (EPP) JUDI to increase efficiency and achieve the highest standards of clinical care for its members.