Medicare Part D: Trends And Opportunities

While Medicare Part D legislation prompted many pharmaceutical and biotechnology companies to begin envisioning a parade of horribles, several industry leaders immediately sought out new opportunities in its wake. In a new benchmarking study, "Medicare Part D: Trends & Opportunities in Long Term Care Sales and Contracting Strategies," key long-term care (LTC) executives at Pfizer, Johnson & Johnson, Sanofi-Aventis, Abbott, Wyeth and 15 other top pharma and biotech companies share their strategic approaches in light of the new Medicare Part D marketplace.

In the study, Best Practices, LLC analysts surveyed 20 LTC industry executives to harvest their responses to and planned changes in such Part D affected areas as:

• LTC Field-based Sales Force Changes
• LTC Contracting Strategy Changes
• Impact of CMS/OIG issued LTC Guidance

A small sampling of key findings from the study includes:

• 40% of the benchmark class plan to increase their SNF Nurse Directed Calls
• Invoice discounts are utilized by 33% of class members with Medicare Part D (PDP) and Commercial (PBM) Plans
• Most class members do not anticipate changes in the levels of rebates and/or discounts next year despite increased pricing transparency

To learn more about the class' expectations around pricing transparency in the LTC Pharmacy segment, paste the following link in your browser and obtain a free download: www3.best-in-class.com/dr264.htm. For questions or additional information on the Medicare Part D study or Best Practices, LLC's other products and services, please visit our Web site at: www.best-in-class.com.

About Best Practices, LLC
Best Practices, LLC, is a benchmarking research firm that conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Visit our Web site at www.best-in-class.com.

Source: Best Practices, LLC