In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audrie, and the Regional Vice-President of Health Plans at Omada Health, interviews Nicole Cathcart and Sean Karbowicz from MedSavvy. 

Nicole, drawing from over two decades of experience in design, marketing, and product development, narrates their journey from design to marketing and eventually becoming the Chief Marketing Officer for emerging tech and blockchain companies. Sean, a Pharmacist and self-described professional skeptic, shares their dedication to evidence-based medicine and the challenges of navigating vast healthcare information. This episode, part one of a two-part series, explores the genesis of MedSavvy and its transformative journey.

The narrative unfolds with Sean recounting their pivotal encounter with a cancer patient who expressed the need for accessible healthcare information. This emotional moment became the catalyst for MedSavvy, a revolutionary platform aiming to empower patients with valuable insights. Nicole details the meticulous process of evaluating proposals during a leadership summit, highlighting Sean's unwavering dedication and the team's collaborative approach to cultivating selected ideas.

The duo then sheds light on the challenges of navigating a large corporate environment with innovative ideas, emphasizing the importance of executive champions. Sean underscores the need for individuals with an exceptional "bullshit detector" to identify valuable concepts. Nicole draws parallels between internal corporate innovation and entrepreneurship, emphasizing the common thread of resistance and the importance of executive sponsorship.

Nicole also provides a concise overview of MedSavvy as a medication choice management tool, uniquely incorporating scientific evidence, user reviews, and pricing. Sean details the core engine of MedSavvy, highlighting its evidence-based methodology and the tool's role in bringing clarity to healthcare decisions. The focus on democratizing healthcare information emerges as a central theme in their mission.

The discussion pivots to the underutilized trust and expertise of Pharmacists in healthcare decision-making. MedSavvy, recognizing Pharmacists as trusted healthcare providers, offers a platform to leverage their expertise privately. Sean emphasizes the collaborative nature of innovation, highlighting the value of opening up ideas to colleagues and enhancing the patient experience through a team-driven approach.

The narrative has expertly woven together the personal and professional journeys of Nicole and Sean, offering a glimpse into the world of innovative healthcare solutions and the transformative potential of collaborative, evidence-based decision-making.

Breaking Barriers with MedSavvy: A Blueprint for Accessible Healthcare

In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audrie, and the Regional Vice-President of Health Plans at Omada Health, interviews Nicole Cathcart and Sean Karbowicz from MedSavvy. In this gripping conclusion of our two-part series with the duo from Medsavvy, we delve deeper into the intricacies of entrepreneurship, the transformative power of innovation, and the dynamic landscape of healthcare technology. Join us for the thrilling conclusion of insights, challenges, and forward-looking perspectives. 

The episode explores the iterative and collaborative approach to innovation within the tech company, emphasizing the importance of creating an open and idea-driven environment. Nicole and Sean share their experiences, detailing the challenges and perseverance required in entrepreneurship, debunking the myth of overnight success, and highlighting the need for persistence and passion. The conversation delves into the internal and external challenges faced by entrepreneurs, touching on topics such as relinquishing control, healthcare system complexities, and the pragmatic aspects of committing fully to a venture.

The guests provide valuable insights into personal and pragmatic considerations, the dynamic nature of the entrepreneurial process, and the inevitability of setbacks. Nicole's optimistic perspective on bouncing back from intellectual property losses underscores the creative potential in overcoming challenges. The paradox of personalization in healthcare technology is explored by Sean, emphasizing the risk of technology replacing human touch and advocating for a disruptive approach to scaling the impact of clinicians.

The significance of AI in healthcare, preserving human-like interactions, and the transformative potential of appreciating health equity are discussed. The conversation reflects on lessons learned from the COVID-19 pandemic, acknowledging the diverse preferences and backgrounds of healthcare consumers. The speakers stress the need for technology that caters to a broad range of individuals, moving beyond designing for specific demographics, and fostering positive change in the industry.

Nicole's insights on navigating the innovation journey highlight curiosity, patience, and adaptability as key attributes. Sean underscores the importance of customer-centricity in entrepreneurship, emphasizing a thorough understanding of the customer's problem for success in any professional environment. Overall, the episode provides a comprehensive exploration of entrepreneurship, innovation, and the evolving landscape of healthcare technology.

From Ideas to Impact: MedSavvy's Insightful Entrepreneurial Adventure

In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audrie, and the Regional Vice-President of Health Plans at Omada Health, interviews Dr. Drew Oliveira, Executive Director, Washington Health Alliance and Clinical Associate Professor, University of Washington; and Denise Giambalvo, Director, Member Engagement & Business Strategy, Washington Health Alliance. Together, they unravel the complexities of the U.S. healthcare system, exploring solutions and challenges in enhancing quality and affordability. 

Denise discusses their journey from the retail industry to their current role, focusing on enhancing healthcare quality and reducing costs. They emphasize the importance of employer-led coalitions and their commitment to improving employee care delivery, particularly in Seattle, where they are engaged in their third coalition endeavor.

Dr. Drew Oliveira shares their diverse background, transitioning from family physician to the insurance industry, gaining insights into U.S. healthcare practices. They highlight the employer's role in creating self-insured health plans and their current focus on improving quality, access, and affordability in healthcare. They are dedicated to addressing health disparities, especially within the employer community. Dr. Oliveira delves into the evolution of the U.S. healthcare system, from apothecary-driven care to the establishment of Medicare and Medicaid, while addressing persistent challenges like the uninsured population and rising healthcare costs.

Further, Dr. Oliveira explores historical attempts to implement national healthcare programs, highlighting resistance from various stakeholders and discussing proposed solutions like Medicare for All. They emphasize the importance of aligning physician workforce distribution with population needs to enhance healthcare quality and cost-effectiveness. Denise reflects on the cultural challenges associated with implementing a single-payer or government-led healthcare system in the United States, expressing concerns about government intervention potentially limiting individual freedom in healthcare decisions.

Additionally, Denise and Dr. Oliveira delve into the multifaceted role of Pharmacy Benefit Managers (PBMs), discussing their functions in claims adjudication, formulary development, and rebate negotiations. They highlight the complexities of formularies and rebate negotiations, shedding light on how these processes impact healthcare costs and patient access to medications. Overall, the episode provides insightful discussions on healthcare challenges and strategies for improvement.

Note: Stay tuned for Part 2 as we explore the American healthcare system with Dr. Drew and Denise next week.

Rx Unplugged: Insider Secrets from the Healthcare Frontlines in the U.S.

Episode: 98
Episode Title: Pharmacy Showdown: Inside the PBM Power Play in the U.S.

In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audrie, and the Regional Vice-President of Health Plans at Omada Health, interviews Dr. Drew Oliveira, Executive Director, Washington Health Alliance and Clinical Associate Professor, University of Washington; and Denise Giambalvo, Director, Member Engagement & Business Strategy, Washington Health Alliance.  Together, they explore the intricate dynamics of the Pharmaceutical market, focusing on the impact of PBMs and the broader disparities in the U.S. healthcare system. Tune in to uncover how vertical integration, financial incentives, and payment model reforms could reshape patient care and outcomes.

Denise delves into the complexities of the pharmaceutical market, particularly focusing on the role and impact of PBMs. They highlight the dominance of three major PBMs that control 80% of the market, creating a system that often prioritizes profits over patient care. Denise explains how vertical integration enables PBMs to manipulate drug pricing, even within programs aimed at assisting low-income patients, and describes the financial challenges faced by Pharmacies due to PBM practices like clawbacks, which often result in financial losses for Pharmacies.

Denise elaborates on the challenges independent Pharmacies face due to PBMs' vertical integration, where PBMs own Pharmacies and manage the entire supply chain. This integration allows PBMs to benefit from practices like spread pricing, where they charge health plans more than they reimburse Pharmacies, pocketing the difference. Denise underscores the lack of transparency in PBM operations and its impact on costs for both employers and patients. Additionally, the discussion covers the significant role of specialty drugs in healthcare costs and how PBMs leverage their control to profit through rebates and preferred drug listings.

Further, Dr. Drew and Denise discuss the disparities and complexities within the U.S. healthcare system, emphasizing the dominance and profit mechanisms of PBMs at various stages of the pharmaceutical supply chain. The conversation reveals how PBMs and consultants create a biased market, influencing employer choices through back-end financial incentives, exacerbating the lack of transparency, and ultimately affecting drug costs. Denise also highlights the need for data-driven strategies to address health inequities, stressing the importance of removing financial and access barriers to improve patient outcomes.

In a thought-provoking exchange, host Michael Alexander asks Denise and Dr. Drew Rivera about the most impactful change that could improve patient care in the U.S. healthcare system. Both suggest that changing the payment model to a global or episode-based payment for primary care would be transformative. Dr. Rivera also proposes a federalized healthcare system as a controversial yet potentially effective solution for aligning incentives and enhancing care quality. The episode concludes on a lighter note, with Dr. Rivera sharing his passion for jazz music and Denise discussing their enjoyment of dancing and pickleball, highlighting the importance of balancing professional and personal interests.

Pharmacy Showdown: Inside the PBM Power Play in the U.S.

In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audirie, and the Regional Vice-President of Health Plans at Omada Health, interviews Kerri Barwick, GM of Education & Training at the Pharmaceutical Society of Australia (PSA). Kerri shares their unique journey from business studies to Pharmacy, highlighting their innovative approach to training and the evolving role of Pharmacists. Tune in for an inspiring discussion on overcoming industry challenges and the exciting future of Pharmacy.

Kerri shares their inspiring journey into the Pharmacy profession, starting as a casual Pharmacy Assistant in high school. Initially pursuing a business degree, Kerri found themselves drawn back to Pharmacy roles, eventually deciding to study Pharmacy while raising young children. This blend of business acumen and Pharmacy skills has enabled Kerri to create innovative training programs at PSA, leading to rapid career advancement into their current leadership role.

Kerri discusses how their unique career path has influenced their approach to Pharmacy. Unlike many who transition from Pharmacy to business studies, Kerri's journey began with a business degree. This provided them with a distinct perspective on the importance of business skills in Pharmacy. Kerri underscores the support banner groups offer to Pharmacists in areas like marketing and business management, although they believe more can be done to enhance Pharmacists' understanding of customer relationships and long-term business value.

In their role at PSA, Kerri oversees a wide range of responsibilities, emphasizing the importance of teamwork and collaboration. They manage the organization of major conferences like PSA-24, various educational workshops, and qualifications such as the Diploma of Leadership Management. Additionally, Kerri oversees CPD products and new credentials like Pharmacist Prescribing. Building relationships through meetings with partners, universities, and internal teams is crucial to achieving the department's goals, according to Kerri.

Kerri highlights the significant challenges faced by Pharmacists, including time constraints and workforce shortages, especially in rural and remote areas. They emphasize the need for flexible training programs that can be accessed anytime and anywhere to accommodate these challenges. Despite the increasing demand for Pharmacists due to expanded roles like immunization and aged care, the profession often struggles with recognition and respect. Nonetheless, Kerri remains optimistic about the positive changes and increased authority Pharmacists are beginning to experience.

Kerri further discusses the complexities of training Pharmacy professionals in a demanding work environment, stressing the importance of balancing work and continuing education. They note the debate over the necessary training for Pharmacists to prescribe medications, pointing out that many Pharmacists already possess the required competencies. The competency framework helps identify training gaps, and Kerri stresses the importance of professional judgment and CPD in addressing these gaps. While acknowledging the differing views on training requirements, Kerri is hopeful about the evolving role of Pharmacists and the exciting opportunities on the horizon. 

Note: This insightful discussion is part one of the episode, with the second part to be released next week.

EP 101 - Pharmacy View Podcast - Evolving Roles: How Pharmacists are Meeting New Challenges

In this episode of the Pharmacy View Podcast’s Rx to Riches stream, international host Michael Alexander, a Pharmacist, entrepreneur, digital health enthusiast, Co-Founder of Audirie, and the Regional Vice-President of Health Plans at Omada Health, interviews Kerri Barwick, GM of Education & Training at the Pharmaceutical Society of Australia (PSA). In this episode, Kerri sheds light on the revolutionary AI-powered training simulation platform Audirie and its transformative impact on Pharmacy education. This episode delves into the journey of integrating AI into training, the challenges faced, and the remarkable benefits observed, offering listeners a glimpse into the future of Pharmacy training and education. Join us as we explore how Audirie is setting new standards in the industry and hear Kerri’s insights on the upcoming PSA National Conference and its focus on "Pathways to Progress."

Kerri delves into the innovative launch of Audirie, an AI-powered training simulation platform designed to enhance performance evidence in Community Pharmacy Training. This world-first initiative allows for realistic customer interactions, surpassing traditional methods like written evidence and phone simulations. It not only meets compliance requirements but also offers invaluable feedback for learners, marking a significant advancement in pharmacy education.

Kerri discusses the numerous advantages of the AI-powered training tool, Audirie, in enhancing Pharmacy education. They emphasize that the tool provides objective and constructive feedback, significantly improving Pharmacists' communication and counseling skills. While technical knowledge remains crucial, effective communication can greatly enhance patient interactions and overall professional satisfaction. The potential for Audirie to standardize training and boost confidence among Pharmacy interns is highlighted, leading to improved patient care and professional development.

Kerri also addresses the challenges and benefits of preceptor training in Pharmacy education. Despite PSA offering accredited preceptor training, it remains non-mandatory, resulting in many preceptors lacking formal teaching skills, which impacts the quality of intern training. Kerri underscores the value of AI-powered tools like Audirie in providing objective feedback, enhancing communication skills, and boosting confidence among pharmacy interns. They share personal experiences, noting the advantages of having clear, recorded assessments over subjective feedback, which can significantly enhance the learning experience.

Addressing the challenges and misconceptions surrounding AI in Pharmacy training, Kerri explains that some resistance stems from a lack of understanding of AI technology, particularly its ability to handle dynamic and natural conversations. Despite initial awkwardness, AI avatars have proven to be highly responsive and capable of managing complex scenarios and varied interactions. Kerri emphasizes the importance of continuous testing to fully understand AI’s capabilities and benefits in educational settings, encouraging organizations to embrace this technology.

In the final segment, Kerri offers advice to organizations considering AI-powered training solutions, stressing the importance of setting realistic timeframes and recognizing the technology's vast potential. They also preview the upcoming PSA conference, highlighting its theme "Pathways to Progress" and the exciting range of sessions and networking opportunities. Kerri emphasizes the value of connecting with peers and gaining inspiration from the event to rejuvenate one's passion for the Pharmacy profession, encouraging attendees to engage fully in this transformative experience.

EP 102 - Pharmacy View Podcast - AI in Action: Enhancing Pharmacy Training with Audirie

Welcome to Pharmacy View – Technology in Pharmacy Business Podcast Series where we provide regular interviews with Pharmacists and key industry people within the Australian Pharmacy and associated industry. In each podcast we look to discuss aspects of Pharmacy operation and how technology is improving or interacting with each guest’s current role or Pharmacy related business.

New tracks tagged #RxToRiches