Thousands of Managed Care Professionals Address Complex Issues at AMCP Nexus 2023

Nearly 3,000 managed care professionals from health plans, PBMs, pharmaceutical manufacturers, and other managed care organizations convened in Orlando from Oct. 16–19 for AMCP Nexus 2023, the industry’s premier fall meeting. Attendees connected with like-minded professionals, discussed the important trends impacting their work, and expanded their horizons through cutting-edge education sessions.

"The work that AMCP’s members are doing every day often takes place behind the scenes. But you are playing a crucial role by facilitating greater access to the right treatments and therapeutics. You’re improving affordability and equity within our larger health care system."

— Susan Cantrell, MHL, RPh, CAE

The event featured dynamic speakers from every facet of managed care pharmacy and was anchored by a keynote from the “pied piper of happiness” Neil Pasricha. Pasricha poignantly commented on the need for all individuals—and those particularly in the managed care universe—to be grateful for things every day and to learn to let go of the things that are weighing them down or are out of their control. Sessions such as “Industry Landscape: The Road Ahead for the Inflation Reduction Act” and “PBM and Health Care Reform Legislation” were standing-room-only and among the most well-attended. There was also an intentional focus on increased networking opportunities for attendees.

Top pharmaceutical and payer organizations exhibited at Nexus’ full expo hall where attendees learned the latest innovations in the industry that are likely to drive business in the upcoming months and years. Corporate members such as Abbott, Astellas, Cytokinetics, and Cencora had prominent booths on the floor alongside the popular Headshot Lounge sponsored by Carelon Rx and more than 300 posters covering the latest in managed care pharmacy research. And who could forget the Dog Bark Lounge (with some of the cutest pups in Orlando) sponsored by Lockwood!

At AMCP, we find value in dialogue. We think it is important to bring together stakeholders from across fields and disciplines and then provide a space to share ideas, concerns, and questions.

— Jim Hopsicker, RPh, MBA, FAMCP

Top 10 Takeaways From Nexus 2023 Sessions

1. There are more than 600 gene and cell therapies in the pipeline.

2. Experts shared that 63 patents are set to expire through 2027, opening an $87B opportunity for biosimilars.

3. The 340B program generated $52B in savings/revenue in 2022.

4. Global cancer medicine spend was $196B in 2022 and is expected to reach $375B by 2027.

5. Nearly 250 clinical trials are underway for chimeric antigen receptor (CAR) T-cell therapies, including autologous and allogenic “off the shelf” products, and over 130 bispecific T-cell engagers (BiTE) agents are in development, both with emphasis in solid tumor.

6. Employers rank overall pharmacy cost trends and the affordability of high-cost drugs in the pipeline as their top pharmacy benefit concerns.

7. Black Americans are twice as likely to develop Alzheimer’s disease, and Hispanics are one and a half times as likely, yet < 5% of trial participants are Black, Hispanic, American Indian/Alaskan Native, or Asian American.

8. According to most U.S. payers, specialty society guidelines are the most useful for informing coverage and formulary decisions.

9. A shocking 27% of people diagnosed with a behavioral health condition account for 57% of the total annual health costs.

10. There were 470 bills introduced into legislation in 2023 impacting managed care pharmacy.
 

Following the success of Nexus 2023, AMCP members and others working in managed care pharmacy have turned their eye towards the highly anticipated AMCP 2024, which will be held in New Orleans April 16–19. The largest event annually in managed care pharmacy is already building to be an epic celebration of the industry. Don’t miss out — sign up below to be alerted once registration is open!

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Beth O’Brien, CMP, DES
Senior Director of Meetings and Conventions
Published on Nov. 2, 2023