SOMERSET, N.J. – August 11, 2014 – Alliance Life Sciences, an innovative management and technology consultancy, announces the release of its White Paper, “The New Insurance (Exchange) Marketplace”. The paper explores the effect of the national healthcare insurance marketplace, compares differences between Marketplace and commercial drug benefit plans, and identifies opportunities for pharmaceutical companies in the years ahead.
Joel Owerbach, Pharm.D., Vice President, Health Policy and Strategy, Alliance Life Sciences, will present “Prepare for the Impact of Marketplace Exchanges in 2015” at the CBI Reimbursement and Access 2014 conference, August 12-13, 2014, Loews Philadelphia Hotel, Philadelphia, Pennsylvania.
“Poised to grow to over 24 million members by 2016, the Marketplace will become the leading segment that creates, innovates, and implements new benefits and formularies as well as new and integrated drug benefit management initiatives”, says Owerbach. “The next few years mark a critical time for Pharma to better plan for the impact the marketplace will have in influencing the broader commercial segment for existing and pipeline products.”
New specialty drugs will represent a particular challenge as well as opportunity, says Owerbach. Opportunities for Pharma may include:
- Leveraging max out of pocket limits by promoting marketplace enrollment; building into subsidy/copay assistance programs
- Restructuring access programs to account for higher initial patient affordability hurdles
- Approving subsidies for a limited time, contingent on Marketplace enrollment
“It will be critical for Pharma to reassess strategic and tactical focus on new drugs and specialty drugs in particular, relative to the marketplace and in anticipation of the broader commercial impact ahead.”