Introduction to P&T Competition

1. Introduction to P&T Competition OSU AMCP General Body Meeting 09/09/13

2. Announcements • Today at Midnight is the deadline for P1 Liasion! Questions? Ask Jorge • Thursday during Pro Hour Christine will be discussing service opportunities! • Sign up to order Nametags and Thank You Cards either with the link in the newsletter or through an officer

3. Managed care

4. What is Managed Care? • Maximize health outcomes while minimizing costs • Which one drug will WORK BEST vs. which 500 drugs will SIMPLY WORK • Application of specific treatment guidelines and evidence-based medicine to entire patient populations • Ex. Beta blockers and theoretically reduced risk for cardiovascular events • Huge databases of information used by hospitals, insurance companies, and the government (ex. CMS, VA) • May use database to say to a primary care physician, “based on patient demographic and health history information and information you transmitted regarding present illness, the numbers suggest there is a better drug treatment option”

5. Where does Managed Care happen? • Insurance companies – specifically PBMs • Set formulary – what drugs are covered • Determine coverage levels and tiering • Determine place in treatment (first line drug OR only after first line treatment failure) • Hospital P&T committees • Set formulary – what will drugs are carried • Ex. Mt. Carmel and Kcentra™ – a new drug for the urgent reversal of VitK antagonist therapy • Community pharmacy • Prior Authorization, Step Therapy, Refill Too Soon, Quantity Limitats

6. So THAT is what Managed Care is?!? • May sound like corporate greed or government death panels, AND: • Managed Care is often vilified, BUT: • Responsibility to make sure that resources are not wasted • Ex. patients receiving cosmetic prescriptions at no charge, when another patient cannot afford • Every time you spend money on one patient, you lose money that then cannot be spent on another patient

7. Who and what is involved in Managed Care? • People – doctors, researchers, statisticians, economists, and PHARMACISTS like: • Mark Pilkington – Vice President of Strategic Sourcing and Product Management at Cardinal Health • Brian Lehman – Pharmacy Benefits Manager at OPERS; previously OSU Health Plan • Amanda Bain – Treasurer of Ohio & Kentucky AMCP • Paige Stewart – managed care resident from Kaiser Permanante, now at OSU • Informatics • Think about how Bing, Amazon, and Facebook advertise information, products, and friends • Research – medical, economic, statistical post-hoc analysis

8. Why is Managed Care the future? • Costs are too high • Outcomes are subpar • Current FDA approval process only requires new drugs show superiority over placebo • Currently implemented at insurance/institutional level, but SOON: • Governmental Patient-Centered Outcomes Research Institute (PCORI) • It is not unrealistic to expect outcomes and comparative effectiveness to eventually impact drug approval • Politically, no one disagrees that we need to do more with less

9. What is P&T Competiton? • P&T = Pharmacy & Therapeutics • Students will form a group to act as P&T committee • Review clinical literature • Evaluate economical factors • Understand disease state, drug info • Make comprehensive formulary decision • Great chance to • Improve skills: critical thinking, literature evaluation, research and presentation • Team-up with PharmD students in other years • Earn elective credits, awards, etc.

10. P&T Comittee is... • A group of people that meets together to promote “safe, effective, and cost-effective drug therapy” • Primarily physicians and pharmacists • Develop policies regarding drug selection, evaluation, and utilization • Educate practioners on drugs and appropriate drug utilization • Manage the development and maintainance of the organization’s drug formulary Information referenced from P&T competition-How to guide, AMCP student pharmacist comittee

11. Where do P&T comittee exist? • Any organization that maintains a drug formulary • Hospitals • Insurance company & health plans • Pharmacy Benifit Manager (PBM) • VA and military • Government Information referenced from P&T competition-How to guide, AMCP student pharmacist comittee

12. P&T Competition Requirments • Work in a group of 4 members • All must be AMCP members!! • Follow team formation rules • Complete the following tasks • Compose a drug monograph (20 pages max.) • Present your formulary decision to judges (30 min presentation with 30 min Q&A) • Submit all required materials ON TIME!

13. Here’s your reward-- • 2 elective credits • Represent OSU chapter to compete at national meeting • All traveling expenses covered • $cholar$hips • Networking with national leaders of AMCP • CV/resume enhancement • Hot kisses from Kevin (optional)

14. P&T Competition Timeline • Fall 2013 • Sign-up a team • Review eDossier & research • Meet with team member regularly • Spring 2014 • Submit drug monograph • Presentation • Award Ceremony • National Competition

15. Fall 2013: Sign-up a Team • Team Formation rules • Must be 4 AMCP student members • Previous participants +1 year • Maximum year total is 9 • Approved by AMCP P&T Competition comittee • Deadline: 11/1/2013

16. Fall 2013: Review eDossier • eDossier will be released in October • All participants will have an access to FMCP student P&T competition eDossier system • eDossier • monograph template • usuful tools • DI & literature evaluation lectures available

17. Fall 2013: Meet your team • Communication • Allocation • Cooperation • No procrastination! • Use Thanksgiving and winter break wisely

18. Spring 2014: Submit monograph • Deadline: mid-January 2014 • Monograph - 20 pages max • Formulary decision • Evidence evaluation (clinical trials) • Economical models (5 pages max, if any) • Background information: DI, disease state • Team assignments

19. Spring 2014: Presentation • Time: end of January 2014 (TBD) • Presentation: • 30 slides max • Handouts (optional): 5 pages max • 30 minutes presentation • 30 minutes Q&A

20. Spring 2014: Award Ceremony • Time: February 2014 (TBD) • Award Ceremony • Reveal our winners! • Food & Social • Special guest speaker

21. Spring 2014: National Competition • Time: April 2-4 2014 in Tampa, FL • Benefits • Traveling expenses covered • Special trips • $2000 prize to 1st place team, $1500 2nd place, $1000 3rd place • Honor and self-achievement

22. Tips to success • Start early • Team work • Ask questions • Enjoy the competition

23. Questions? • Contact us! • P&T chair: Kevin Chang.1064 • AMCP president: Vanessa Copeland.225 Join AMCP Today!