As we bid farewell to 2023, the Academy of Managed Care Pharmacy (AMCP) reflects on a year marked by triumphs, innovation, and significant strides in advancing the field of managed care pharmacy. Guided by its mission to optimize medication therapy management and improve health care outcomes, AMCP has been at the forefront of shaping the landscape for managed care pharmacy professionals. In this blog, we'll explore some of the organization's notable achievements in 2023 and cast a hopeful gaze toward the potential opportunities and challenges awaiting managed care professionals in 2024.
In October, AMCP unveiled its inaugural report titled "Access, Affordability, and Outcomes: The Value of Managed Care Pharmacy." This document not only elucidates industry concepts but also delves into the pivotal role played by managed care pharmacy in enhancing access to cost-effective care, particularly for marginalized communities. It underscores the significance of managed care pharmacy in ensuring access to innovative therapies, improving clinical outcomes, and mitigating escalating therapy costs.
AMCP's commitment to inclusivity took center stage with the release of the "Health Disparities Landscape White Paper," a comprehensive assessment conducted by the Health Disparities Advisory Group. This insightful exploration examines the role of managed care pharmacy in identifying and addressing healthcare disparities. Serving as a valuable resource for professionals and patients alike, the white paper offers practical insights to drive change and innovation in underserved communities.
Additionally, AMCP spearheaded the "Myths & Misconceptions That Impact Appropriate Treatment for Opioid Use Disorder (OUD)" white paper initiative. This paper systematically addresses five common myths influencing treatment decisions for substance use disorder and OUD. This initiative not only provides a contextual understanding based on current guidance but also presents recommendations for managed care organizations to support patients with addiction through a chronic health model.
These are just some of the resources available from AMCP surrounding Health Disparities.
In a significant stride towards advancing biosimilar research, the Biologics & Biosimilars Collective Intelligence Consortium (BBCIC), championed by the Academy of Managed Care Pharmacy (AMCP), has been awarded a prestigious $1.4 million grant from the Food & Drug Administration (FDA). This substantial funding will propel the BBCIC's groundbreaking study titled "Bridging the Gap: Using Foreign Real-World Data to Inform Interchangeable Biosimilar Approvals." Led by co-investigators Dr. Gianluca Trifirò and Dr. Jesper Hallas, this study will explore opportunities and challenges in leveraging real-world data (RWD) from the United States, Italy, and Denmark, aiming to streamline the biosimilar approval process. Cate Lockhart, Executive Director of the BBCIC, underscores the importance of this achievement, emphasizing its potential to enhance the FDA's work and expedite patients' access to cost-effective therapies. This accomplishment stands as a testament to AMCP's ongoing commitment to driving advancements in biosimilar research and regulatory processes through BBCIC's impactful initiatives.
Taking a proactive stance in addressing health disparities, AMCP initiated the MCP Health Equity Action Briefs series. This comprehensive series delves into critical aspects contributing to health disparities, including Disabilities, Race, Ethnicity & Language, Sexual Orientation and Gender Identity, and Social Determinants of Health. Each brief provides a holistic overview, encompassing the impact, significance, existing standards, managed care pharmacy's role, and prevalent challenges and opportunities.
In the heart of San Antonio, Texas, from March 21 to 24, AMCP 2023 emerged as a dynamic exploration of transformative health care trends. The meeting illuminated the ascendancy of specialty medications, the biosimilar boom, and the dominance of specialty drugs in potential 2023 approvals. It highlighted the growing role of generics, the success of accelerated pathways, and the global impact of cancer drug spending.
Later in the year, Nexus 2023 in Orlando, Florida, from October 16 to 19, brought together nearly 3,000 managed care professionals. Dynamic speakers, including a keynote from Neil Pasricha on gratitude and resilience, added a layer of inspiration to the conference. Top 10 takeaways included groundbreaking insights into the flourishing gene and cell therapies pipeline, a staggering $87 billion biosimilars opportunity, and the noteworthy impact of the 340B program, generating $52 billion in savings/revenue in 2022.
As we eagerly anticipate AMCP 2024, set against the culturally rich backdrop of New Orleans this April, this conference promises to not only continue these vital conversations but also introduce new insights into hot topics such as obesity, IRA, the drug pipeline, and much more.
In June, AMCP hosted the Summit on Prescription Digital Therapeutics, marking a significant milestone by bringing together industry leaders, experts, and professionals to delve into the evolving landscape of digital therapeutics. With a predominant representation from payer organizations, the summit addressed critical aspects of benefit coverage models, emphasizing the integration of prescription digital therapeutics (PDTs) into pharmacy benefits. The summit is available to view on AMCP Learn at no cost. The newly updated Digital Therapeutics Resource Center is also available and stands as a testament to AMCP's commitment to advancing education and insights in the realm of PDTs.
In 2023, AMCP Foundation achieved a significant milestone with the launch of the Managed Care Pharmacy Primer Series published in AMCP’s Journal of Managed Care and Specialty Pharmacy. This initiative offers clear and accessible insights into the complexities of managed care pharmacy, serving as a tribute to Judith A. Cahill, AMCP's first CEO. Designed for diverse audiences, these primers empower individuals, including legislators, healthcare professionals, business partners, and students, to navigate the healthcare landscape with clarity and make informed decisions. Rooted in strategic insights relevant to the current legislative landscape, the Primer Series along with a new video series about managed care pharmacists in different career settings, reflects AMCP's commitment to advancing knowledge and education, providing a valuable and free resource for all.
Last year, three new AMCP affiliates were launched in Mid-Atlantic, California, and Tennessee/Alabama. As we step into 2024, managed care professionals can anticipate additional tools and knowledge to help payers evaluate digital therapeutics, support the adoption of biosimilars and standards to incorporate the patient voice into formulary decision making. Navigating evolving regulatory environments and IRA legislation will be a key focus, with AMCP's commitment to advocacy and positioning its members to actively contribute to the development of policies that prioritize patient welfare, access to medication, and cost-effectiveness. Addressing health care disparities remains a critical challenge, and AMCP's dedication to social responsibility positions its members to actively contribute to initiatives aimed at improving healthcare access and outcomes for all communities. Lastly, AMCP is committed to growing an organization that is #AMCPmember1st and will continue to expand its corporate opportunities and membership for health plans and patient groups. We are excited to advance our mission to optimize medicines and improve lives and looking forward to new partnerships and collaborations in the year to come!
Joni Hetfield
Coordinator, Media and Content
Published on Jan. 23, 2023
AMCP offers a wide variety of educational opportunities, from events and webinars to online training.
