James Grigg

If I asked you to choose between Trader Joe's or Target, which would you choose? It's a silly question, really. Because both offer unique benefits. As major GPOs shift in the market, exclusive agreements are becoming common. But are they truly driving value for health systems and patients? Exclusive GPO contracts limit choice. It's like forcing someone to choose between Trader Joe’s and Target. At Advantus Health Partners, we offer diverse vendor partnerships and PPI contracts, enhancing both economic benefits and patient care. By rethinking exclusivity, we prioritize patients and empower health systems with choice. Ready to supplement your supply chain with value-added partnerships? Contact Advantus today to learn more about our non-exclusive contracts. https://lnkd.in/deiYRgfE #SupplyChainStrategy #GPOExclusivity

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Looking to go beyond just financials in reducing supply chain costs for your health system? With nearly half of healthcare leaders prioritizing supply chain as the top cost-saving initiative this year, it's clear that innovation is key. While many rely on GPOs for collective purchasing power, the landscape is evolving. Shrinking margins and requests for GPO exclusivity mean hospitals need more from their partnerships. In Advantus Health Partners' latest ebook, "3 Secrets of High-Performing Supply Chains," we go beyond financials to uncover strategies for sustainable savings and long-term value creation. Read more here: https://lnkd.in/gavG4csm #HealthcareSupplyChain #CostSavings #PerformanceExcellence

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When asked why he co-founded Capital Rx, A. J. Loiacono almost always says, “To fix the problem, we had to become the problem - a PBM.” The #PBM industry lost its way long ago, chasing #rebates and retaining a #spread on drug prices at the expense of what’s best for plans and members. Was our approach disruptive? Absolutely. Refusing to profit from drug spend and instead charging a flat fee, passing through rebates, and launching JUDI® didn’t just shake things up. It set a new standard. Learn more here: https://okt.to/CEsFev #PharmacyBenefits #PBMRevolution #AlignedCare

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The FTC Finally Rules on Noncompetes!!! Hospitals slam FTC's noncompete ban The Federal Trade Commission on April 23 voted 3-2 to ban noncompete agreements in a move it estimates will save up to $194 billion in healthcare costs over the next decade. Though the FTC recognized that it does not have jurisdiction over nonprofit entities, it reserved the right to evaluate an entity's nonprofit status, which would include a significant portion of the 6,120 hospitals in the U.S. Specifically, the agency said that "some portion of the 58% of hospitals that claim tax-exempt status as nonprofits and the 19% of hospitals that are identified as state or local government hospitals in the data cited by [American Hospital Association] likely fall under the commission's jurisdiction and the final rule's purview." The final rule would have significant implications for the healthcare industry and has been described by Federation of American Hospitals President and CEO Chip Kahn as a "double whammy" against hospitals. "The ban makes it more difficult to recruit and retain caregivers to care for patients, while at the same time creating an anticompetitive, unlevel playing field between taxpaying and tax-exempt hospitals — a result the FTC rule precisely intended to prevent," Mr. Kahn said in a statement shared with Becker's. "In a time of constant healthcare workforce shortages, the FTC's vote today threatens access to high-quality care for millions of patients." About 18% of the U.S. workforce, or 30 million people, is covered by noncompete agreements, from senior executives to fast-food workers, according to the FTC. The American Medical Association estimates that between 35% and 45% of physicians are bound by noncompete clauses. Existing noncompetes for most workers will no longer be enforceable once the rule takes effect, but there are exemptions. Existing noncompetes for senior executives (less than 0.75% of workers) can remain in force. However, employers cannot enter into or attempt to enforce any new noncompetes, even if they involve senior executives, which the FTC defines as workers earning more than $151,164 a year and who are in policymaking positions. #ftc #noncompetes #hospitals #physicians

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The tangled web we weave in 340B Given the below is true, how can contract pharmacies meet the legally required GPO prohibition? Whilst I know the 340B entities and 340B TPAs say duplicate PBM rebates are not their business or problem, isn’t that fact dependent on who is doing the value extractions? does it depend if the TPA is below or above the PBM in the chain? Real question. “three biggest PBMs – representing about 80% of the market share – have all diversified their businesses, establishing their own mail-order and specialty pharmacies. They have divested their rebate negotiations by establishing GPOs”.  #340B #compliance William Sarraille Anthony DiGiorgio, DO, MHA Alice Valder Curran

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Do we have a problem? Slow draining sinks in anterooms. Fred poses this as a problem in the "Houston, Do We Have A Problem" section of Pharmacy Stars RxCompounding Compliance B!tes by Fred Massoomi, Pharm.D, BCSCP, FASHP Read the newsletter to find out more https://lnkd.in/gP8k3r7S #pharmacystars #compoundingcompliance #entepriseqms #compoundingqms #usp797 #compoundingpharmacy #hospitalpharmacy #pharmacylab

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I love Adam Fein charts. They have helped me understand the macro-level players in the medical segment for the last decade. These specialty medications create symptoms that can lead to non-adherence, delayed treatment, and unnecessary hospitalizations. Symptom support management to increase treatment compliance is undervalued. BIOLYTE® can help support #nausea #fatigue #migraines #diarrhea associated with dehydration due to complex conditions or complex medication regimens. #oncologypharmacy #specialtypharmacy #dehydration

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Low pharmacy capture rates impacting revenue? Partnering to develop integrated pharmacy strategies supported by an ecosystem of care can optimize 340B and specialty pharmacy opportunities. Keeping patients and employees within your network is key to success. Inaction risks prescription volume loss, poor clinical outcomes, suboptimal pharmacy framework management, drug interactions, readmissions, and competition with national vendors. #PharmacyStrategy #HealthcareIntegration #340B

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This is a fair warning to Covered Entities in the 340B space that has a TPA that are pushing or advertising PBM as a service (3-4 TPA’s): A few PBMs dominate the market but they have contracts with these TPA’s“...increasing vertical integration and concentration consolidation has enabled the six largest PBMs to manage nearly 90 percent of all prescriptions filled in the United States.” PBMs and insurers are often the same company. “...five of the top six PBMs are now part of corporate healthcare conglomerates that also own and operate some of the nation’s largest health insurance companies, including three of the five largest health insurers in the country.” PBMs put profits before patients. “This vertically integrated and concentrated market structure has allowed PBMs to profit at the expense of patients and independent pharmacists.” PBMs have incredible power and influence. “PBMs wield enormous power over patients’ ability to access and afford their prescription drugs, allowing PBMs to significantly influence what drugs are available and at what price.” PBMs engage in self-preferencing, unfair practices. “Vertically integrated PBMs appear to have the ability and incentive to prefer their own affiliated businesses, creating conflicts of interest that can disadvantage unaffiliated pharmacies and increase prescription drug costs.”

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There are many ways to work with us at Mark Cuban Cost Plus Drug Company, PBC: 👩‍🦰 1. If you're a patient in need of a lower cost or another option for a mail order pharmacy and pay cash - check out: www.costplusdrugs.com. 💊 2. If you're a pharmacist, clinic, or hospital looking for other B2B options to buy low cost prescription drugs for your patients, consider shopping the Marketplace: https://lnkd.in/gypvkXde 🏡 3. If you're a patient but love your local pharmacy and want to keep your prescriptions closer to home - great! Check out www.teamcubancard.com to see if we stock your drugs and/or have your pharmacy included in our pharmacy network today. 👩🏿‍⚕️ 4. If you're a prescriber and your patient wants their meds sent to cpd.com, check out this page: https://lnkd.in/gsyQU7hJ. 🛜 5. If you're a retail pharmacist PIC or pharmacy owner and want to join our retail pharmacy network - welcome! Fill out the form at: https://lnkd.in/gnruGTkH. 🏥 6. If you're a hospital and want to know more about our 503B facility and buying a product we manufacture on the FDA shortages list, LMK and I can connect you. 💵 7. If you're a payer and want to connect with us, complete the form at this page: https://lnkd.in/gcnq33kF. ❓ 8. If you have a general query that does not fit any of these categories, you can email us at: info at costplusdrugs.com. 🧑🏼‍🔧 9. If you're looking for a hashtag #job with MCCPDC, check out our jobs page right here at LinkedIn! https://lnkd.in/gegjQBq3 (Please note that we do not currently work with recruiters at this time.)

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This latest #PwC study notes that "...GLP-1s in particular as a driver to watch. Costs per member on GLP-1s have risen steadily over the past several years, reaching $23.16 in the first half of 2023 compared to $8.99 in 2021." No surprise there and expect both demand and costs to continue. #Obesity is one of the significant drivers of GLP-1 demand. Click on this on-demand #IQVIAInstitute webinar to learn more: Rethinking Obesity: Impact on Healthcare Economics and Clinical Practice (on24.com)

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Patients and hospitals both lose money when patients have to seek third-party pharmacy support. A primary solution is the installment of specialized in-house pharmacies tailored to each hospital’s clientele. This enables faster and better patient care and improves finances all around. #pharmacy #hospital #CostManagement

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The growth of ASCs continues with new investments every day. Consolidation will continue as the largest ASC management companies continue to acquire. SPDx can grow the number of surgeries an ASC can perform and increase profitability no matter who owns the facility.

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My “Expert Tips” from 340B Report: In today’s evolving #healthcare landscape, the 340B Drug Pricing Program continues to be a critical tool in expanding access to care for underserved populations. In my latest piece, I explore how innovative leadership within the #340B space can drive greater efficiency, compliance, and impact for eligible healthcare organizations. By leveraging technology and data analytics, leaders can ensure transparency and maximize the benefits of 340B to improve patient outcomes. As we navigate regulatory complexities and shifting reimbursement models, it’s essential to stay adaptive and forward-thinking to safeguard the program’s mission. https://lnkd.in/e2YU6k-x #340B #HealthcareLeadership #PatientAccess #Compliance #DataDrivenSolutions

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According to the Pew Charitable Trusts, 340B discounts are only 1.4% of gross U.S. drug sales and the impact of 340B on manufacturers' revenue is under 2%. Yet, the discounts generated from the program allow safety-net hospitals to provide crucial services to their patients. *This was before the drug manufacturers started blocking 340B at contract pharmacies for the most vulnerable patients and taking away patients choice! But salaries with top pharma CEOs in 2023 soared: Joaquin Duato (Johnson & Johnson): Total Pay: $28.42 million David A. Ricks (Eli Lilly): Total Pay: $26.57 million Richard Francis (Teva Pharmaceutical Industries Ltd.): Total Pay: $25.71 million Richard A. Gonzalez (AbbVie): Total Pay: $25.66 million Robert A. Bradway (Amgen): Total Pay: $22.64 million Daniel P. O’Day (Gilead Sciences): Total Pay: $22.61 million Albert Bourla (Pfizer): Total Pay: $21.56 million Reshma Kewalramani (Vertex Pharmaceuticals): Total Pay: $20.59 million Robert M. Davis (Merck): Total Pay: $20.27 million Giovanni Caforio (Bristol Myers Squibb): Total Pay: $19.66 million

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Reason #1 why geographic restrictions are bad policy for #340B contract pharmacies. Reduced Access - It is common for patients established at a CHC to have physical and geographic access challenges. CHCs often rely on mail-order or home delivery pharmacies to fill these gaps and ensure patients have access to care. Local Pharmacies and even CHC owned pharmacies are often prohibited by payors from mailing prescriptions. This leaves no option but to contract with a select few nationally recognized home delivery pharmacies to ensure CHC patients have access to their medications. Health Resources and Services Administration (HRSAgov), HHS Centers for Medicare & Medicaid Services National Association of Community Health Centers (NACHC) PhRMA #340B #CoveredEntities Advocates for Community Health

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Streamlining Implant and Consignment Orders: Small Steps, Big Impacts Tackling the complexities of automating bill-only implant and consignment orders may seem overwhelming, but even small enhancements can lead to substantial progress. SimplifyOR is the missing piece toward automating the manual, redundant tasks associated with the paperwork vendor reps leave behind. Vendor reps can easily record cases, and ASCs simply tap to approve, with the documentation automatically integrated into the ENVI platform. Plus, the case histories collected in the app allow ASCs to quantify utilization by surgeon, vendor, case types, and case costs—valuable data for payer and vendor applications. Most importantly, SimplifyOR allows busy ASC staff to focus on what truly matters: patient care.

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