Health Care Policy Experts & National Association of Specialty Pharmacy to Webcast Briefing on New Medicare Part D Rule

FOR PLANNING PURPOSES

Washington, DC (Nov. 28) – At 12pm ET on Wednesday, Nov. 29 (tomorrow), the National Association of Specialty Pharmacy (NASP) will webcast a briefing on the new proposed rule for Medicare Part D from the Centers for Medicare & Medicaid Services (CMS), followed by a Q&A with participants. Specifically, the discussion will focus on the Agency’s request for public comment on proposed changes to the Any Willing Pharmacy Provisions, along with ways to share drug rebates and discounts negotiated by manufacturers, as well as Part D sponsors and pharmacy price concessions with sick patients at the point of sale.

“We need to take a hard, close look at the big, vertically integrated pharmacy benefit managers (PBMs) that have grown to unforeseen proportions and are now emulating the business practices of the robber barons of the late 19th century,” said Sheila Arquette, NASP Executive Director. “To make a dent in the skyrocketing costs of prescription medications, it is imperative to provide comment on CMS’ proposed rule, and work across party lines and throughout the health care continuum.”
“CMS has had enough with PBM games—depriving seniors of price concession for their drugs, as well as charging pharmacies inapplicable fees is coming to an end,” said Barrett Thornhill of The McManus Group, a Washington DC-based public policy consulting firm that specializes in health care.

WHO
NASP Executive Director Sheila Arquette
Barrett Thornhill, The McManus Group
Jayson Slotnik, Health Policy Strategies

WHAT

Webcast to the market highlighting the proposed Medicare Part D Rule, and its impact on specialty pharmacy and the unique needs of patients treated with specialty medications.

WHEN

12pm ET on Wednesday, November 29

WHERE

Webcast available here | Direct link: https://goo.gl/SXCr6Q

Dial-In: (833) 286-5805
International Dial-In: (647) 689-4450
Conference ID: 8879948
*Participants will be connected to the call by an operator after providing the conference ID

Additional Background | According to a new analysis by the Kaiser Family Foundation, 1 million Medicare beneficiaries had out-of-pocket drug spending above the Part D catastrophic threshold in 2015. These 1 million enrollees spent an average of over $3,000 per person out-of-pocket on prescriptions, $1,215 of which was above the catastrophic threshold. Unfortunately, the number with such high spending has risen sharply in recent years. IMS Health data shows drug spending continues to shift from traditional to specialty medicines, with specialty share of net spending increasing from 23.6% in 2007 to 42.9% in 2016.

National Association for Specialty Pharmacy (NASP) | NASP represents over 50 healthcare industry leaders, working on behalf of retail and specialty pharmacies, drug distributors and hospital systems on legislative and regulatory efforts for the association, which has 250 member pharmacies. To spotlight the increasingly negative consequences of DIR fees, NASP launched StopDIRfees.com with information and testimonials on how big PBMs impose DIR fees to rig the Medicare system. The site also features an online petition and contact information for constituents to call or write elected officials, urging them to stop DIR fees. NASP was founded in 2012 and is the only national trade association that represents specialty pharmacy, serving as the leading educational resource and national advocate for specialty pharmacy healthcare professionals and patients alike. In addition to providing medications to severely ill patients, specialty pharmacy also features support programs and services to ensure patients maximize the benefit from their medication, therapies and services, working to ease the treatment burden for patients, families and caregivers as they work to manage these tough conditions.

MEDIA CONTACT:  Maureen Shanahan | mshanahan@skdknick.com | 407-620-6046

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