Meg FitzGerald, EVP of Strategy and Policy for Cardinal Health, joined us for our Master Class on February 21st to share her thoughts on the new era of biopharma, how the concept of value-based care is impacting healthcare service models, and how that may impact the pharmaceutical industry in the future.
Meg’s academic and professional experiences contributed to her deep knowledge and expertise in this topic. Meg received a bachelor of nursing from Fairfield University and then returned to the classroom to earn a master of public health from Columbia University. She recently obtained a doctor of public health (DrPH) degree at New York Medical College, focusing on health policy. Meg has a wide range of experience in the pharmaceutical industry with past positions at Merck, Sanofi-Synthelabo, and Pfizer before moving over to Medco Health Solutions and now Cardinal Health, where she started as president of Cardinal Health Specialty Solutions before assuming her current role.
After discussing her views on healthcare trends in 2020, Meg focused on the evolution from the fee-for-service model to value-based care, which shifts the risk from payer to provider and seeks to improve the value of the care delivered (improving healthcare outcomes without raising costs). This shift is changing the reimbursement model and how / where healthcare is delivered.
Guest speaker Dr. John LaMattina, previous President of Pfizer Global Research and Development, led a spirited discussion on the pricing of pharmaceuticals. We then broke into groups and simulated a negotiation between Memorial Sloan-Kettering, Merck and Aetna on creating a value-based pricing agreement for Keytruda, a new cancer drug. Needless to say, there are winners and losers in this scenario!
Meg concluded her lecture with thoughts on leadership. Everyone came away with new insights into biopharma, the impact of the shift to value-based care, and trends that we can expect over the next five years.