We spoke to Miree Lee, MS, MBA, Bio/Pharma Pricing, Contracts & Compliance Consultant, M. Lee Consulting, about how the new US administration will impact the industry and what changes she expects to see in the future.
What do you think will be the main impact from the new administration to this industry?
"I believe that the pharmaceutical industry will receive continued pricing pressure from Congress. Specifically, there has been much discussion about drugs reimbursed under Medicare Part B where, currently, there is no required cost share from manufacturers. Given the increased spend by the government on Medicare Part B reimbursed drugs, it is likely that we could see cost control and cost share measures implemented."
What do you see as the biggest innovation(s) in Medicaid and Government Pricing that will impact the next 5-10 years?
"Maybe not an innovation but I do see the very real possibility of value based contracting becoming more mainstream for drug manufacturers."
What is or will be the major hurdles over the next 5-10 years?
"Continued pricing pressure, possible reduction or elimination of patient-focused assistance programs (e.g. co-pay, voucher and assistance programs), and more and more states implementing drug pricing and pricing transparency legislation."
Just for fun...What profession other than your own have you always wanted to attempt and why?
"As cheesy as it may sound, I can’t say that I’d want to do anything other than what I am doing. I LOVE my job, my clients, my industry, and my country! Spoken like a true GP geek."
Which city or location is your favorite for business travel and why?
"Charleston, SC. Foodie town, clients who have become family, and fly fishing for redfish! What more can one ask for?"