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PODCAST: Doctor’s Don’t Disclose Conflicts of Interest

Posted on December 13, 2022 by Dr. Marcinko

C.O.I.

By Eric Bricker MD

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MORE: https://medicalexecutivepost.com/2022/10/05/video-on-doctors-money-and-conflicts-of-interest/

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Filed under: "Doctors Only", Drugs and Pharma, Ethics, Health Economics, Health Insurance, Professional Liability | Tagged: COI, Conflicts of Interest, Don't Disclose Conflicts of Interest, Drugs, Eric Bricker MD, pharma, pharmaceuticals | Leave a comment »

AbbVie: The Economic Recession Index?

Posted on November 23, 2022 by Dr. Marcinko

The BOTOX Predictor Index?

By Staff Reporters

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It’s looking more than likely that we’ll see a recession in the next year, and Americans are preparing themselves by taking steps like delaying major purchases, allocating more of their income to savings, and staying in jobs they don’t love. Another thing they’re not doing? Getting Botox. And that’s bad news for AbbVie; according to Neal Freyman of Morning Brew.

AbbVie, one of the biggest drug manufacturers in the US, brought Botox into its medical aesthetics portfolio—which also includes the popular dermal filler Juvederm—in 2020, when it bought rival drugmaker Allergan for $63 billion. AbbVie CEO Richard Gonzalez said during the company’s Oct. 28 earnings call that the company expects the aesthetics business to take a hard hit in 2023 as recession fears cause consumers to be more cautious with their spending.

“Based on all the data we’ve been observing, especially in the US, with both the consumer-confidence index and real personal consumption expenditures trending down and continued high inflation, these factors are putting pressure on consumer’s discretionary spending,” Gonzalez said.

AbbVie lowered its 2022 full-year forecast for its aesthetics business by $600 million, down to $5.3 billion. After the earnings call, AbbVie’s stock fell 4.3%. Through the third quarter of 2022, Botox has brought in $1.97 billion for the aesthetics business. The third quarter saw $637 million in cosmetic Botox sales, down from an expected $640 million. Gonzalez said he doesn’t think the hit on sales will last long, though.

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“As consumer confidence improves, we would once again expect the market growth to accelerate. Our aesthetics portfolio experienced a rapid and sustained recovery following the 2008, 2009 recession,” Gonzalez said.

But Botox also faces a new competitor, called Daxxify, which just got FDA approval in September. Made by Revance Therapeutics, the drug may last longer: In clinical trials, Daxxify injections lasted six to nine months, while Botox injections typically last three months.

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Filed under: "Doctors Only", Alternative Investments, Career Development, Drugs and Pharma, Health Economics, Health Insurance, Healthcare Finance, Investing | Tagged: AbbVie, AbbVie: The Economic Recession?, botex predictor index, economic recession, Morning Brew, pharma | 1 Comment »

PHARMA: Will Americans Finally See Drug Prices Decrease?

Posted on November 4, 2022 by Dr. Marcinko

By Health Capital Consultants, LLC

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According to the White House, “Americans pay two to three times as much as people in other countries for prescription drugs, and one in four Americans who take prescription drugs struggle to afford their medications. Nearly 3 in 10 American adults who take prescription drugs say that they have skipped doses, cut pills in half, or not filled prescriptions due to cost.” In an effort to combat this growing crisis, both the federal government and private companies have taken a number of steps over the past year aiming to lower drug prices. This Health Capital Topics article will review those actions and the potential unintended consequences of these actions.

(Read more…)

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Filed under: "Doctors Only", Drugs and Pharma, Experts Invited, Glossary Terms, Health Economics, Health Insurance | Tagged: drug prices, Drugs, Health Capital Consultants LLC, PBM, pharma, pharmacy, Pharmacy Benefits Managers, Will Americans Finally See Drug Prices Decrease? | Leave a comment »

CVS, Walgreens and Walmart: Opioid Settlement

Posted on November 3, 2022 by Dr. Marcinko

By Staff Reporters

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CVS, Walgreens, and Walmart agree to pay $13 billion over opioids

The pharmacy chains have reached a tentative deal to settle thousands of lawsuits brought by state and local governments that accuse them of contributing to the opioid epidemic.

If the deal goes through, CVS and Walgreens will each cough up around $5 billion, and Walmart will reportedly be on the hook for $3 billion.

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Filed under: Breaking News, Drugs and Pharma, Ethics, Health Insurance, Risk Management | Tagged: CVs, Drugs, opioids, pharma, pharmaceuticals, Walgreen's, Walmart | Leave a comment »

Supreme Court Hears Oral Arguments on 340B Drug Pricing Cuts

Posted on January 19, 2022 by Dr. Marcinko

BY HEALTH CAPITAL CONSULTANTS, LLC

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Supreme Court Hears Oral Arguments on 340B Cuts

On November 30, 2021, the U.S. Supreme Court heard oral arguments regarding the challenges arising from the cuts made by the Centers of Medicare & Medicaid Services (CMS) to the 340B Drug Pricing Program.

The 340B Drug Pricing Program allows hospitals and clinics that treat low-income, medically underserved patients to purchase certain “specified covered outpatient drugs” at discounted prices (applying a ceiling to what drug manufacturers may charge certain healthcare facilities) – 25% to 50% of what providers would typically pay – and then receive reimbursement pursuant to the rates set forth in the Outpatient Prospective Payment System (OPPS) at the same rate as all other providers. (Read more…)

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HEALTH ECONOMICS CITE: https://www.r2library.com/Resource/Title/0826102549

PODCAST: https://medicalexecutivepost.com/2021/08/27/podcast-hospital-340-b-drug-programs/

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Filed under: Accounting, Breaking News, Drugs and Pharma, Experts Invited, Videos | Tagged: 340-B Drug Program, Centers of Medicare & Medicaid Services, CMS, CMS drug pricing program, Drugs, Health Capital Consultants LLC, Health Economics, OPPS, Outpatient Prospective Payment System, pharma, pharmacy | Leave a comment »

PODCAST: Prescription Patient Assistance Programs

Posted on January 11, 2022 by Dr. Marcinko

BY ERIC BRICKER MD

With 43 Million Americans Having Lost Their Job at Some Point During the Pandemic and About 1/2 Those Jobs Providing Health Insurance… the 1st Group–People Who Do Not Have Health Insurance–Needs to Be Aware of How These Programs Work.

In this Video You Will Learn the Patient Assistance Program Process for:

1) 2 of the Most Common Types of Insulin

2) The Highest-Revenue Medication in America: Humira

**Note: At the Time of the Video’s Recording, the Unemployment Rate in the US was 15%. As of November 2021, the Unemployment Rate is 4.2%.

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Filed under: Drugs and Pharma, Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance, iMBA, Inc., Videos | Tagged: Eric Bricker MD, Health Insurance, humira, insulin, Patient Assistance Programs, PBMs, pharma, pharmaceuticals, Prescription Patient Assistance Programs | 1 Comment »

PODCAST: The 10 Top Technology Trends Shaping the Future of the Pharma

Posted on October 8, 2021 by Dr. Marcinko

THE CULTURAL SHIFT

Dr. Bertalan Meskó, MD

The pharma industry has taken a big swung into digital transformation. All participants invest in digital health topics.

But as with all trending issues, and there is a lot of fuss that is hard to see through. As the medical community increasingly acknowledges the importance of digital health, the cultural shift we so often talk about is still a way to go. To change that, the first step is always getting to know what’s coming.

In this article, with podcast, Bert collected the trends changing the pharmaceutical industry.

ESSAY AND PODCAST: https://medicalfuturist.com/top-10-trends-shaping-future-pharma/?utm_source=The%20Medical%20Futurist%20Newsletter&utm_campaign=3a501b1978-EMAIL_CAMPAIGN_2021_09_05_Resend&utm_medium=email&utm_term=0_efd6a3cd08-3a501b1978-399696053&mc_cid=3a501b1978&mc_eid=40fee31c25#

YOUR THOUGHTS AND COMMENTS ARE APPRECIATED.

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Click to access foreword-mata.pdf

Filed under: "Doctors Only", Drugs and Pharma, Experts Invited, Information Technology | Tagged: Dr. Bertalan Meskó, Drugs, medical digital transformation, pharma, pharma future, pharma trends | Leave a comment »

PODCASTS: FDA Pharmaceutical Industry Ties

Posted on September 15, 2021 by Dr. Marcinko

CONFLICTS OF INTEREST?

The New York Times Had an Excellent Article on the FDA on September 2, 2021.

The Article Described How the FDA Began Receiving Funding from the Pharmaceutical Industry Itself to Pay for FDA Employee Salaries in 1992–a Potential Conflict-of-Interest. Subsequently, a Study Found that 1/3 of Drugs Approved by the FDA Were Found to Have Safety Problems from 2000 -2010. Another Potential Conflict-of-Interest is Number of FDA Regulators Who Leave Their Positions to Take High-Paying Jobs at Pharmaceutical Companies.

By Eric Bricker MD

FDA rescinds emergency authorization for COVID-19 antibody treatment bamlanivimab | TheHill

PODCAST:

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Filed under: "Doctors Only", Drugs and Pharma, Ethics, Experts Invited, Op-Editorials, Videos | Tagged: Big Pharma, DEA, Drugs, Eric Bricker MD, FDA, NYT, pharma, pharma conflicts, pharmaceutical industry | Leave a comment »

The PBMI Innovation Challenge

Posted on August 6, 2021 by Dr. Marcinko

There’s still time!

Submit your innovative solution in patient health management to the Pharmacy Benefit Management Institute (PBMI) Innovation Challenge by August 6, 2021 for the chance to be among one of the 5 finalists selected to pitch their ideas before a panel of judges at the PBMI 2021 Annual Meeting!

Be sure to submit your idea by August 6, 2021 for the chance to be featured in an upcoming issue of Managed Healthcare Executive with a full-year integrated marketing program valued at over $100K, in addition to formal acknowledgment at this year’s PBMI Conference.

REGISTER: https://events.pbmi.com/event/31593a7e-d661-4ea5-abf2-5aa6473e1a14/summary

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Filed under: Drugs and Pharma | Tagged: Drugs, PBM, pharma, Pharmacy Benefit Mangers | 1 Comment »

Peri-Operative MEs and ADEs

Posted on December 14, 2015 by Dr. Marcinko

One in Twenty [1/20]

By http://www.MCOL.com

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ImageProxy

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Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
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CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

[HEALTH INSURANCE, MANAGED CARE, ECONOMICS, FINANCE AND HEALTH INFORMATION TECHNOLOGY COMPANION DICTIONARY SET]

[Mike Stahl PhD MBA] *** [Foreword Dr.Mata MD CIS] *** [Dr. Getzen PhD]

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Filed under: Drugs and Pharma, Quality Initiatives | Tagged: ADEs, Drugs, MEs, pharma, www.MCOL.com | 1 Comment »

National Health Expenditure Growth

Posted on January 16, 2014 by Dr. Marcinko

A Report from the Office of the Actuary

Source: Centers for Medicare & Medicaid Services

According to the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary, overall national health expenditures grew at an annual rate of 3.7 percent in 2012, marking the fourth consecutive year of low growth. Health spending as a share of gross domestic product fell slightly from 17.3 percent in 2011 to 17.2 percent in 2012.

Private Insurance

Private health insurance spending growth remained low. Private health insurance spending continued to grow at a low rate, increasing 3.2 percent in 2012 compared to 3.4 percent growth in 2011. Medicare spending growth continued to be low. Despite a large uptick in Medicare enrollment, Medicare spending growth slowed slightly in 2012, increasing by 4.8 percent compared to 5.0 percent growth in 2011.

The Totals for MC/MD

Total Medicare spending per enrollee grew by only 0.7 percent in 2012. Medicaid spending continued to grow at a historically low rate. Total Medicaid spending grew 3.3 percent in 2012. While an increase over 2011, this increase still represents historically low overall growth rates tied to improved economic conditions, as well as efforts by states to control costs.

Rx Drugs

Prescription drug spending growth was low. Retail prescription drug spending slowed in 2012, growing only 0.4 percent as the result of numerous drugs losing their patent protection, leading to increased sales of lower-cost generics. Nursing home spending growth slowed.

Assessment

Spending for freestanding nursing care facilities and continuing care retirement communities increased by only 1.6 percent in 2012, down from 4.3 percent growth in 2011, due to a one-time Medicare rate adjustment for skilled nursing facilities.

Conclusion

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Filed under: Drugs and Pharma, Health Economics, Health Insurance | Tagged: Centers for Medicare & Medicaid Services, CMS, Drugs, National Health Expenditure Growth, pharma, Retail prescription drug spending | 1 Comment »

Doctors on Drugs

Posted on June 23, 2012 by Dr. Marcinko

Profitable Prescriptions?

Increasing in costs each year, prescription pills are one of the most profitable and dominating industries in the nation, with annual sales in the hundreds of billions. Prescribed medications constitute a significant bulk of work that medical coders must transcribe.

The Rx Pill Industry

Shockingly, the prescription pill industry uses questionable practices to increase their bottom line, and in turn, increase coding workload through unnecessary prescriptions. Though pharmaceutical companies have long-earned a reputation for wooing doctors with gifts, bribes, and incentives, it was only revealed in recent years that they’ve also been paying doctors huge sums of money to promote certain products. And, some and doctors are taking up on these offers.

These pre-selected medications are not only violating a conflict of interest, but they can also be largely responsible for increases in patient and insurance costs: a doctor may feel obligated to prescribe an expensive “sponsored” medication over a cheaper alternative.

Assessment

This in turn, is reflected on the overall rising cost of healthcare, which unfortunately, is exactly what the doctor ordered.

Conclusion

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Filed under: Drugs and Pharma, Ethics, Glossary Terms | Tagged: “sponsored” medication, Doctors on Drugs, pharma, pharmaceutical companies, prescription pills, Rx drugs | 7 Comments »

Doctors on Drugs?

Posted on December 7, 2011 by Dr. Marcinko

Sponsored Medications Increase MDs Bottom Line

Shockingly, the prescription pill industry has questionable practices to increase their bottom line, and in turn, increase coding workload through unnecessary prescriptions.

Though pharmaceutical companies have long-earned a reputation for wooing doctors with gifts, bribes, and incentives, it was only revealed in recent years that they’ve also been paying doctors huge sums of money to promote certain products – and doctors are taking up these offers. These pre-selected medications are not only violating a conflict of interest, they can be largely responsible for increases in patient and insurance costs: a doctor may feel obligated to prescribe an expensive “sponsored” medication over a cheaper alternative.

This in turn, is reflected on the overall rising cost of healthcare, which unfortunately, is exactly what the doctor ordered.

Source: Medical Billing and Coding

Conclusion

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Filed under: Drugs and Pharma, Ethics | Tagged: Drugs, pharma, pharmaceutical companies, prescription pills, sponsored drugs | 1 Comment »

Enter Margaret Hamburg

Posted on April 10, 2009 by Dr. Marcinko

The New FDA Nominee

By Staff Reporters

According to Tracy Staton and FiercePharma on April 7, Dr. Marcia Angell, former New England Journal of Medicine editor-in-chief and current Harvard Medical School lecturer, wrote a column in the Washington Post that set out a list of seven goals for Margaret Hamburg who awaits senate confirmation as FDA chief.

A New Book

Now, Angell has a particular point of view; she’s published a book called The Truth About the Drug Companies [How they Deceive us and What to Do About It]. Here they are, presented for your critique and consideration by the new FDA chief:

Repeal the Prescription Drug User Fee Act because it puts “the FDA on the payroll of the industry it regulates.”
Consultants for drug companies should be banned from advisory committees.
Enforce FDA mandates on post-marketing studies.
Review generics as quickly as it checks out branded meds.
Require drug-makers to compare their new drugs with similar existing meds.
Cease surrogate drug endpoints.
Bar DTC ads for three years after a new drug is approved.

Assessment

What has she missed? Are these guidelines fair or not? Will they be advocated by Hamburg, if confirmed?

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Filed under: Alerts Sign-Up, Book Reviews, Breaking News, Drugs and Pharma, Ethics, Health Law & Policy | Tagged: big-pharma, drug, drug companies, DTC, FDA, generic drugs, Marcia Angell, Margaret Hamburg, NEJM, pharma, pharmaceuticals, trade drugs, Washington Post | 1 Comment »

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