Relationship building: A potent tool
April 1st 2001It seems nothing short of amazing to me that the vast majority of pharmaceutical reps bypass what is surely the most potent sales tool that exists. Before I became a provider 22 years ago, I was involved in sales. It was then that I realized that sales are greatly influenced by the nature and quality of the relationships between salespeople and their customers. Failure on the part of pharmaceutical representatives to develop good, strong relationships most often leads to poor prescribing habits on the part of the provider.
Hospital care expenses dropping
April 1st 2001According to "Outlook 2001," a report released by the Boston-based Tufts Center for the Study of Drug Development, the United States today spends nearly three times as much on physician services as it does for prescription drugs, and over four times as much as it does for hospital care. Although prescription drugs, as a share of total U.S. healthcare spending, increased from 5.5% a decade ago to 8.5% today, hospital expenditures declined from nearly 37% to 33% during the same time period, while spending on physician services remained nearly constant.
MCO formularies adding new products
April 1st 2001More than 20 new drugs were added to the Fall 2000 edition of Newtown, PA-based Scott-Levin's Managed Care Formulary Drug Audit. Betapace AF™ (sotalol HCl), a cardiovascular therapy manufactured by Berlex Laboratories Inc., Montville, NJ, was the new product with the highest level of formulary acceptance, according to the audit.
President Bush proposes a 'helping hand'
April 1st 2001President Bush has sent his temporary prescription drug proposal for low-income families - called "An Immediate Helping Hand" - to Congress. The plan would provide block grants to states to cover drug costs for seniors 65 and older who have incomes of up to $11,600, and up to half the drug costs of seniors with incomes of up to $15,000. The plan would also cover drug costs for any Medicare patient, regardless of income, if his or her yearly drug costs exceed $6,000.
Healthcare mergers and acquisitions hit seven-year low
April 1st 2001For the past four years, the volume of healthcare services mergers and acquisitions has always slowed in the fourth quarter. While the fourth quarter of 2000 was no exception, the size of the decline was larger than usual and the number of transactions fell below 100, hitting a seven-year low, according to New Canaan, CT-based Irving Levin Associates Inc. In its fourth quarter 2000 Healthcare M&A Report, the firm points out that there were just 90 healthcare services mergers and acquisitions announced, representing a 30% decline from the third quarter and a 43% plunge from the fourth quarter of 1999.
Bush, McCain clash on patients' rights
April 1st 2001President Bush and Sen. John McCain (R-AZ) are set to battle over McCain's "Bipartisan Patient Protection Act of 2001," a patients' rights proposal he has introduced with Senators John Edwards (D-NC), Ted Kennedy (D-MA), Lincoln Chafee (R-RI), Tom Harkin (D-IA) and Bob Graham (D-FL). The proposal would:
HIV treatment guidelines updated
April 1st 2001An updated version of the "Guidelines for the Use of Antiretroviral Agents in HIV-Infected Adults and Adolescents" has been released by the Panel on Clinical Practices for the Treatment of HIV Infection, a joint effort of the Department of Health and Human Services and the Menlo Park, CA-based Henry J. Kaiser Family Foundation.
ITC examines price comparisons
April 1st 2001Fair price comparisons between pharmaceuticals sold in foreign countries and those sold in the United States may not be possible, according to a new report from the Federal Trade Commission. The study, conducted at the request of the House Ways and Means Committee, reveals how drug prices are established, the role of compulsory licensing in setting prices and a description of the costs associated with the development of prescription drugs in Canada, France, Germany, Italy, Japan, Mexico, Russia and the United Kingdom.
Survey reveals U.S. Rx, OTC medication use
April 1st 2001According to a recently released survey by the Bethesda, MD-based American Society of Health-System Pharmacists, over half (51%) of American adults take two or more medications each day. In addition, almost half (46%) of Americans take at least one prescription medicine every day, while more than a quarter (28%) take multiple prescription medications daily. The survey of 1,000 Americans focused on consumers' use of prescription and nonprescription medications, including herbal supplements and vitamins.
Withdrawn drugs more dangerous to women
April 1st 2001A General Accounting Office examination of prescription drugs withdrawn from the U.S. market determined that most posed more health risks to women than to men. According to the GAO, ten prescription drugs have been withdrawn since January 1997, eight of which caused more adverse events in women; four of the drugs' users were mostly women, and four were widely prescribed to both men and women.
Managed care lengthens physician visits
April 1st 2001An article in the New England Journal of Medicine (vol. 344, no. 3) asserts that the increased penetration of managed care organizations actually increases the amount of time patients spend with their doctors. The article debunks most physicians' perception that managed care limits the time they have to spend with their patients.
Clinical Work-Up: Amgen's Trials Move Online
March 1st 2001The number of pharmaceuticals in development recently mushroomed, and the complexity of trials is increasing. Amgen has reduced its cycle times but still wants to improve efficiency and cost effectiveness as it enlarges its pipeline, presenting tough new challenges in clinical research.