IVBM Strategies for Integrated Delivery Networks: Effective Management of Biologic Drugs and Biosimilars
IVBM Highlights on Cost Management
Elie M. Bahou, PharmD, MBA, senior vice president and system chief pharmacy officer at Providence, emphasizes the use of formulary management, negotiation tactics, in-house specialty pharmacies, patient assistance programs, utilization management, and data analytics to manage the rising costs of biologic medications.
This approach ensures financial sustainability while also maintaining optimal patient outcomes.
Strategies for Financial Sustainability
- Formulary Management: Establishing a P&T committee for cost-effective biologics.
- Negotiation Tactics: Leveraging partnerships for better pricing.
- In-House Specialty Pharmacies: Reducing costs through internal management.
- Patient Assistance Programs: Providing support for access to medications.
- Utilization Management: Monitoring drug usage effectively.
- Data Analytics: Using data to inform decisions and strategies.
This transcript has been lightly edited for clarity. For further details, visit the IVBM site.
Disclaimer: The information provided on this site is for informational purposes only and is not intended as medical advice. We are not responsible for any actions taken based on the content of this site. Always consult a qualified healthcare provider for medical advice, diagnosis, and treatment. We source our news from reputable sources and provide links to the original articles. We do not endorse or assume responsibility for the accuracy of the information contained in external sources.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.