BERWYN, Pa.--(BUSINESS WIRE)--AscellaHealth, a global healthcare and specialty pharmacy SP) solutions company, announces that CEO and President Belazi was invited to participate on a panel during the recent 2023 annual meeting of the Self Insurance Institute of America (SIIA) during a session entitled, “Specialty Pharmaceuticals: Remedy Pain Points for Self-Insured Employers.” Drawing a packed audience, the panel provided expert perspectives for employers, TPAs, brokers and benefits consultants on opportunities to manage quality, access and costs associated with the introduction of specialty medications as well as novel, expensive and potentially lifesaving cell and gene therapies (CGTs).
“Employers must prepare themselves for the relentless launch of new, FDA-approved therapies and the significant impact of these treatments on budgets and benefits planning cannot be underestimated,” advised Belazi. “The challenge is to improve patient access to treatment and ensure affordability with targeted programs, financial solutions and other initiatives that relieve the pain points.”
Panelists explored the potential for a shift toward Value-Based (VB) and Outcome-Based contracts, linking reimbursement, coverage or payment to a treatment’s real-world performance and patient outcomes.
“Innovative financial solutions for CGT are now available amid continued increases in CGT costs that are putting pressures on employers and payers,” said Belazi. “This will drive innovative approaches for absorbing these costs, which can exceed multi-million-dollar price tags. Unique financial solutions, such as loan-based programs for payers, significantly offset the cost of expensive and potentially curative CGTs.”
He pointed to the evolving role of specialty pharmacies in the management of the specialty medications under the medical benefit, adding, “Payers have typically managed specialty medications separately on the pharmacy benefit and medical benefit, making it challenging to see the full effect of their specialty strategies and where there may be opportunities to improve the patient experience and health outcomes. Specialty pharmacies have the opportunity to manage these benefits seamlessly and assist both the patient and payer in enhancing the quality and cost of the specialty drug therapy -- regardless of the benefit.”
A discussion of specialty drug administration sites of care drew lively commentary as Belazi noted, “Hospitals typically charge more for specialty drugs and their administration than independent administration sites and physician offices, whether treatment occurs in a hospital or a hospital-owned physician practice. Administering drugs in physician offices and patients' homes -- instead of hospital outpatient settings -- can significantly reduce costs and provide savings opportunities for both the payer and patient. This approach helps to eliminate hospital stays, decreases hospital utilization, hospital resources and subsequent cost.”
AscellaHealth expresses a special thanks to SIIA for organizing this important discussion; Laura Carabello, principal, CPR Strategic Marketing Communications, for moderating the session and all panelists and attendees.
About AscellaHealth LLC
AscellaHealth, a global healthcare and specialty pharmacy solutions organization, serving patients, life sciences manufacturers, payers and providers, offers a comprehensive portfolio of uniquely tailored, tech-enabled services supporting complex, chronic conditions or rare diseases that require specialty medications and/or cell and gene therapies. A recipient of numerous industry awards for innovation, including Deloitte Technology Fast 500™ and Inc. 5000, AscellaHealth’s customized, patient-centric approach is built upon proprietary technology processes for end-to-end solutions to streamline the commercialization of specialty medications and proactively address unmet client needs, optimize clinical health outcomes and improve the quality of life for this patient population. AscellaHealth brings a rare and special perspective to all stakeholders. Visit www.AscellaHealth.com.