NovoLogix’s Tom McNulty Presents Strategies for Managing Physician Office Medical Pharmacy Spend to Industry Leaders
Minneapolis, MN (September 17, 2008)—NovoLogixSM Chief Clinical Officer Thomas J. McNulty, Pharm.D., today was an invited speaker at the conference, The Role of Evidence Based Medicine in Oncology Benefit Management, sponsored by CBI Research, Inc.
“Drug spend within the physician office represents one of the largest areas of unmanaged spend within healthcare today,” McNulty stated. “And as specialty pharmacy, in general, is expected to grow 10-20% per year, spend within the physician office is certain to keep pace.”
In his presentation entitled “Strategies for Controlling Medical Pharmacy Spend in the Physician Office,” McNulty engaged attendees in a dynamic discussion around the various factors impacting this trend, including the escalating use of specialty drugs—many of which are administered in the physician’s office—to treat the growing number of patients with chronic conditions like cancer, rheumatoid arthritis, and Crohn’s disease. Outlining a number of important strategies, he urged participating healthcare leaders to:
- Understand the implication of the pharmaceutical pipeline on spend within this space
- Assess the strengths and limitations of current benefit models for managing medical pharmacy spend and related services, including route of administration, site of service, and per diems
- Evaluate the impact on payers and physicians of the requirement of the Deficit Reduction Act for National Drug Code (NDC) submissions from all physician practices billing for physician-administered drugs to Medicaid
McNulty also offered insight into contracting options available to payers and strategies to improve visibility and predictability to increase control of medical pharmacy spend within this fast-growing and increasingly important site of care. Thomas J. McNulty, Pharm.D., is Co-founder and Chief Clinical Officer of NovoLogix, Inc.
About NovoLogix
NovoLogix is a performance-based healthcare technology company delivering electronic claims re-pricing processes, prior authorization controls, and integrated patient care and pharmaceutical programs. Generating economic results for payers and their stakeholders and improving the management and delivery of drugs and services for healthcare consumers, Minneapolis-based NovoLogix covers millions of members for the nation’s largest health plans, pharmacy benefits management companies (PBMs), and government programs. The company holds full accreditation by EHNAC. www.novologix.net
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