Here’s what you should know:
1. Following the President’s tweet and before Mr. Reed spoke to President Trump, Pfizer decided to roll back its planned price increases.
2. Mr. Reed said to CNBC Pfizer made the decision because, “we wanted to have a positive relationship with the Hill and administration as we go through this blueprint.”
3. President Trump introduced a blueprint to lower drug prices in May. The proposal takes several approaches to accomplish this including: changing the drug rebate system and negotiating with drug companies on price.
4. Mr. Reed believes President Trump’s blueprint can be successful, because it’ll allow Pfizer to increase patient-access to its drugs.
5. Mr. Reed hypothesized the Trump administration could eventually end up eliminating drug rebates as a whole. If he does pharmacy benefit managers and distributors will feel the effects.
More articles on supply chain:
Where ASCs fit in the healthcare landscape: key ideas for success from Pacific Rim Outpatient Surgery Center’s Gary Richberg
How a New York-based ASC is preparing for outcomes based reimbursement
The necessary change for an ASC’s sustainability: key thoughts from South Portland Surgical Center’s Lianna McDowell
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.