2024 Health Meeting - Session 4C: Reimagining Pharmacy Financing 6.24.24 Recording

The cost of prescription drugs is top of mind for consumers, payers, and policymakers. While there have been many efforts to reduce pharmacy costs over the years, the problem remains. This begs the question “Where do we go from here?”. While each of the many policy proposals currently on the table help some people some of the time, none seem to address the root causes of rising prescription drug benefit costs. Developing a pharmacy financing structure based on rewarding value while using the current infrastructure could better align stakeholder incentives and mitigate the total cost of care increases. In this session, the presenters will describe this approach and discuss what it will take to make that methodology work. At the end of this session, participants will be able to: Describe elements of value associated with a prescription drug Describe the key elements of the current pharmacy financing system, including the advantages and disadvantages of the system Describe various alternative pharmacy financing systems, including the advantages and disadvantages of each Describe how to potentially improve stakeholder incentive alignment in order to mitigate total cost of care increases