What Are the Challenges Facing the Pharmacy Industry Right Now?
The regulatory environment and workforce shortages are plaguing the pharmacy industry, one Walgreens exec shared at the Abarca Forward conference on Tuesday.
Inside One Organization’s Efforts To Create the First National Pharmacy Union
The Pharmacy Guild recently launched and aims to create the first national pharmacy union in the U.S. But it has a difficult road ahead going up against giants like Walgreens and CVS. Still, its organizers expect the union to be successful.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
ChatGPT Does a Bad Job of Answering People’s Medication Questions, Study Finds
Researchers recently tested ChatGPT’s ability to answer patient questions about medication, finding that the AI model gave wrong or incomplete answers about 75% of the time. Providers should be wary of the fact that the model does not always give sound medical advice, given many of their patients could be turning to ChatGPT to answer health-related questions.
Patients Should Be at the Center of Pharmacy Care. Why Aren’t They?
We should strive for a future where patients have easy and affordable access to medications, supported on their journey by trusted pharmacy professionals who are an integral part of their care team.
Walgreens Exec: Reimbursement Models Need to Catch Up with GLP-1 Demand
Walgreens is seeing “an enormous amount of demand” for injectable weight loss drugs, its president of U.S. healthcare said during the Reuters Total Health conference in Chicago. He declared that the healthcare industry needs to come up with a reimbursement model “that correctly compensates pharmacists and others” to administer these drugs. In his view, reimbursement hasn't caught up with the demand.
Why Some Pharmacy Staff at Walgreens Are Staging Walkouts
Walgreens pharmacy staff are staging walkouts from October 30 to November 1. One organizer said it's because pharmacy staff are being tasked with too many responsibilities, making it difficult for them to safely fill prescriptions.
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A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
What Will Rite Aid Need to Do to Recover from Bankruptcy?
Rite Aid filed for Chapter 11 bankruptcy protection on Sunday amid decreasing sales, billions of dollars in debt and more than a thousand lawsuits claiming the chain filled illegal prescriptions for opioids. In order for the company to get back on its feet, experts say it will have to start acting more like its competitors, such as Walgreens and CVS, by leaning more into care delivery, forging strong payer partnerships, and improving its digital offerings.
Pharmacy Automation Startup Emerges From Stealth With 20+ Customers And $9M Raised
San Francisco-based Plenful emerged from stealth on Tuesday. The startup sells a workflow tool that automates manual and administrative workflows for pharmacy technicians. In addition to its launch out of stealth mode, the company also announced that it has closed a $9 million funding round led by Bessemer Venture Partners and signed contracts with more than 20 customers.
Drug Shortages Not Only Exacerbate Healthcare Burnout But Can Also Harm Patient Care
The second quarter of 2023 ended with 309 active drug shortages, the highest total in nearly a decade, according to a new report from ASHP. One of the organization’s executives pointed out that drug shortages have two major impacts on health systems: they create a lot of extra work for the pharmacy department, and they force clinicians to make tough decisions about patient care that could potentially result in worse patient outcomes.
Which Drugs Are Driving Next Year’s 3.42% Increase in Hospital Pharmacy Spend?
Hospitals’ pharmacy spending is projected to rise by 3.42% next year, according to a new report. Specialty drugs, including Ozempic and Humira, as well as neurology medications are the primary drivers of this increase in pharmacy expenses.
Maximize Revenue and Patient Care with Strategic Weight Loss Management
We will highlight Build My Health's revenue practice management tools, which could help physician practices add up to $250,000 to their practices.
Hospitals Have Concerns About CMS’ Proposed $9B Lump Sum Payment for Illegal 340B Cuts
CMS recently proposed a $9 billion lump sum payment to remedy illegal payment cuts for 340B drugs from 2018 to 2022. In general, hospital groups have reacted positively to the fact that 340B providers will receive lump sum payments but have expressed concern about CMS’ methods for maintaining budget neutrality with this plan.
How AI Will Change the Way Patients Get Medication
There is a huge opportunity for PBMs and health systems to use AI to help address the challenges surrounding the affordability and accessibility of medicines, from navigating formularies to resolving prior authorization. More automation in pharmacies and with ordering workflows is one piece of that puzzle.
US Sues Rite Aid for Ignoring Glaring ‘Red Flags’ in Opioid Prescriptions
The Department of Justice filed a lawsuit against Rite Aid, accusing the pharmacy chain of filling hundreds of thousands of opioid prescriptions that had “obvious, and often multiple, red flags.” The DOJ claimed that Rite Aid violated the Controlled Substances Act by filling unlawful prescriptions for addictive drugs, as well as the False Claims Act when the chain sought reimbursement from federal healthcare programs for these prescriptions.
Medicare Drug Negotiation Is the Model for the Future of Drug Pricing, Abarca CEO Says
For the first time ever, CMS is preparing to negotiate prices for drugs paid for by Medicare. This has sparked a huge debate — will the creation of this taxpayer-funded drug negotiation infrastructure be a failed experiment, or will it become the standard for the future of drug pricing in this country? Jason Borschow, president and CEO of Abarca Health, says it's the latter.
Is Interoperability Tech Worth the Investment? Experts Say Yes for 3 Reasons
Panelists at a recent healthcare conference expressed optimism about the automation technology that health plans, pharmacy benefit managers and providers can adopt to facilitate real-time data sharing. They said that such technology has potential to improve medication adherence, reduce costs and save time for both providers and payers.