Insight
CoverMyMeds recaps three key sessions from the final day of Asembia's Specialty Pharmacy Summit, AXS24, emphasizing the importance of advancing health equity, addressing medication access barriers and navigating the complex regulatory landscape.
CoverMyMeds is publishing recaps of select sessions from Asembia’s Specialty Pharmacy Summit, AXS24.
In our final recap from Asembia's 2024 Specialty Pharmacy Summit, we highlight three sessions covering medication access, adherence and health outcomes. Presenters explored the use of real-world data and AI to overcome access barriers, the impact of social determinants of health on medication adherence, and the challenges faced by specialty pharmacies in navigating the regulatory landscape.
Presenters:
This session discussed the growing use of real-world data (RWD) and AI in addressing medication access barriers. The presenters highlighted the impact of increasing coverage restrictions, patient costs and government regulations on the pharma industry. All of the stats shared in this session recap are derived from their market research, which was based on the perspectives of 309 stakeholders from various levels and functions within pharma and biotech. The findings highlight some of the key medication access concerns within the industry.
We are seeing an evolution of our clinical capabilities and advancements in the industry at an unprecedented pace.
RWD and AI have emerged as powerful tools in helping to improve medication access within the pharma industry, and ultimately improving patient outcomes.[0]Dinesh Kabaleeswaran, Jennifer Klarer, May 1, 2024, Asembia Specialty Pharmacy Summit, From Pipeline to Patient: Understanding Barriers to Access in 2024 and Beyond. The presenters suggested the industry work to integrate these technologies into access decision-making processes and leverage the capabilities of these technologies to inform strategies and stay ahead in an increasingly competitive landscape.
Presenters:
This session focused on the impact of social drivers of health (SDOH) on health outcomes and medication adherence, emphasizing the need to address SDOH to promote health equity. They discussed the relationship between medication adherence in the Medicare population and SDOH.
When you’re looking at social drivers of health and particular issues like hospitalization rates or access to treatment… there are different social drivers in different areas and different parts of the country. It’s never a one-size-fits-all. And that’s why having comprehensive data is really important.
Drive meaningful change and create a more equitable healthcare system by:
Panelists discussed the challenges faced by specialty pharmacies in delivering advanced therapies while facing complex regulatory barriers. They highlighted several examples of states evolving regulations, including heightened scrutiny from state boards of pharmacy on temperature controls and off-site and remote dispensing programs for gene therapy products. Additionally, the panelists discussed the regulatory hurdles involved in implementing specialty pharmacy-supported clinical trial operations.
The regulatory framework in which specialty pharmacies operates is complex, it is ever-changing and it greatly affects our ability to get patients the medications they need to live healthier lives.
Specialty pharmacies face the challenge of adhering to state and federal regulations for community and mail-order pharmacies. They must also meet the unique needs of patients with complex medical conditions, all while embracing technology and adapting to a constantly evolving regulatory environment.
A growing number of states are implementing regulations that could hinder specialty pharmacies and their ability to use technology and innovation.
The panelists encouraged the industry to stay informed and continue advocacy efforts, as they said the public outcry from the industry has been our best and most effective defense against challenging regulations. Otherwise, specialty pharmacies may be hindered in their ability to provide necessary medications to patients in states with restrictive legislation.
Check out this additional exclusive content featuring CoverMyMeds' President, Kevin Kettler, providing insights on the power of actionable data – a key theme from Asembia 2024.
Today was the final update from AXS24. To read all of our recaps from this year’s Summit, visit our Asembia 2024 coverage page. Keep up with the latest industry news and insights by subscribing to our Insights newsletter.