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webinars

Reviewing Drug Pricing Options: From AWP to AAC and Regulatory Impacts

Dates:
Aug 23, 2022
Time:
1:00 pm EDT
Presented by Capital Rx
Register Now Registration takes place at a third-party website.

About This Webinar

For over three decades, various drug pricing benchmarks have been utilized to help payers procure and distribute medications in the U.S. As a result, there are many challenges with prescription drug costs and access. While a multitude of available drug pricing benchmarks can be used, including common ones like average wholesale price (AWP) and wholesale acquisition cost (WAC), not all have been fully vetted or evaluated to determine if one benchmark may have an advantage over another. To better control costs and improve access, everyone’s understanding of the various strengths and weaknesses of the available drug price benchmarks must improve. Additionally, State and Federal laws (e.g., the Consolidated Appropriations Act) will now require greater disclosure of drug pricing elements and fees.

The webinar will focus on the pharmacy supply chain and how drugs are "bought and sold" on a unit basis until they hit pharmacies’ shelves, where an old and outdated benchmark is widely used and accepted. New state and federal laws which impact drug pricing transparency and reporting will also be discussed.

Attendees Will Learn About

  • The nuances of the various pricing benchmarks available for Rx medications - both public and subscription-based.
  • The inherent strengths and weaknesses with preferred publicly available pricing benchmarks.
  • What the Consolidated Appropriations Act (CAA) is and how it may impact drug pricing transparency and statutory reporting requirements for employers.
  • How to identify the market dynamics that make the introduction of a new Rx pricing benchmark a particular challenge.
  • Pointers on how to adjust underwriting parameters and drug projection models to accurately account for an acquisition cost + pricing metric.
  • What members expect from their Rx benefit, and how member experience when utilizing an Rx benefit that has acquisition as the foundational base can improve outcomes.

Presenters

Matthew Gibbs, PharmD

President

Capital Rx

Matthew is President for Capital Rx and has been in the pharmacy and health plan industry for 24 years. He was previously the Chief Pharmacy Executive for Anthem, Chief Clinical Officer for Medco Health Solutions, Consulting Practice Leader at Hewitt and Aon, and was last the President of Envision Rx.

Learn more about Matthew Gibbs, PharmD