Medicare Part D

Venue: The Westin Grand

Location: Washington, D.C., United States

Event Date/Time: Jun 27, 2005 End Date/Time: Jun 28, 2005
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Description

The Medicare Prescription Drug, Improvement and Modernization Act is one of the most significant and complex pieces of healthcare legislation to be approved in nearly four decades. This bill will affect a number of stakeholders – Medicare beneficiaries, managed care organizations (MCOs), pharmacy benefit managers(PBMs), state Medicaid programs, and physicians -- in many different ways.

Although the Medicare Prescription Drug Benefit will not go into effect until January 1 of next year, pharmaceutical companies faced pressing deadlines at the beginning of 2005 that could significantly affect their share of the business from the 42 million Americans currently eligible for Medicare. April 18, 2005 was the deadline for MCOs, PBMs, and other possible plan administrators to submit their proposed Medicare formularies and approved drugs to CMS. To meet that deadline, MCOs and PBMs were in constant contact with pharmaceutical companies to ask how they planned to contract for their products.

While many pharmaceutical companies were focused on their strategic planning efforts during the first half of 2005, they should not lose sight of the broader ramifications of the benefit. As companies implement their strategies, the selling environment may change significantly, and as a result, some sales and marketing tactics may need to be adjusted. It is difficult to predict exactly what those changes will look like, but it is possible to identify where they are likely to take place.

FEATURED KEYNOTES:

Key Success Factors for the Implementation of Medicare Part D

Mark McClellan, M.D., Ph.D.
Administrator
CENTERS FOR MEDICARE AND MEDICAID SERVICES (INVITED)

How American Can Afford to Grow Older: A Vision for the Future

John Rother
Director of Policy & Strategy
AARP

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