Pharmacy innovations
The first topic of conversation was the exploration of cheaper alternatives for patients. Former HealthTrust SVP of IHP, Joey Dizenhouse, explained that it is essential for prescribers and the healthcare system to consider alternative options that can save costs for both patients and the overall plan. By utilizing better technologies and customized solutions, prescribers can make more informed decisions about prescriptions.
Pharmacogenomics and individualized therapy are making significant progress in terms of improving the quality of life for patients. However, these advancements also bring about some challenges, leading to difficult conversations about the cost-effectiveness and quality-adjusted life years. As the innovations in the industry continue, these questions will become more prominent.
Biosimilars & their impact
Joey mentioned the emerging market of biosimilars, which have been around for years but are now gaining more traction, providing new contracting opportunities and plan design options. These can help drive value into healthcare programs, although the rate of adoption will depend on factors such as interchangeability and patent applications.
Advice for aspiring pharmacists
When asked for advice for those just starting their careers or considering a path in pharmacy, Joey emphasized the importance of staying open to various aspects of the industry. Even if one has a specific passion, it is crucial to broaden horizons and explore adjacent areas within the pharmacy practice. This can include understanding reimbursement methodologies, payer formulary placement, coverage determinations, and clinical edits. By gaining a full picture of the pharmacy landscape, professionals can better apply their passion and expertise within the field.
As pharmacy continues to evolve and innovate, staying interested, active, and open to learning is essential for success in the profession. Pharmacists have various opportunities to explore, and staying engaged with these developments can lead to a more fulfilling and successful career.
Staying informed about innovations and emerging trends in the pharmacy sector is crucial for those aiming to excel in their careers. By keeping an open mind, exploring adjacent areas, and staying passionate about the profession, pharmacists can ensure they are well-prepared for the changing landscape of the industry.
Throughout this podcast conversation, Joey sheds light on the importance of staying updated on pharmacy innovations. From pharmacogenomics to biosimilars, the pharmacy sector is continuously evolving, offering various opportunities for growth and learning.
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