Navigating the Inflation Reduction Act (IRA) with Former FDA Commissioner, Mark McClellan

*IRVINE, CA / ACCESSWIRE / June 16, 2023 / *The 2022 Inflation Reduction Act (IRA) is poised to be the most revolutionary change to US drug pricing in decades, rapidly ascending as a top policy priority for pharmaceutical manufacturers and insurers, large and small. Innopiphany LLC., a life science consultancy and expert network FirstThought, will co-host an informational webinar on the IRA with former FDA commissioner Mark McClellan. This one-hour virtual event will address pressing questions regarding the role of various stakeholders, potential evidence requirements, projections for the near and distant future, downstream consequences across the healthcare system, and steps manufacturers can take to prepare. This is a unique opportunity to hear Dr. Mark McClellan's views on this important topic and have your questions answered in a real-time Q&A.

*This remote webinar will be live on June 20^th, from 2:00 - 3:00 pm ET. Time permitting, the speakers will address questions raised by attendees. **Register now to attend**. The webinar will also be recorded and available on the **Innopiphany website** shortly after the event.*

*The IRA is one of the most consequential developments in US drug pricing history.*

"IRA changes are monumentally historical, and I'm excited to speak to Mark to see how we can clarify some of the current unknowns," said Dr. Lisa Kennedy, "Every stakeholder, from patients and doctors to insurers and manufacturers, is going to be impacted by this." The passing of the Inflation Reduction Act in August of 2022 will bring about critical changes to how drugs are priced and paid for by Medicare. This includes an amendment to HHS's "non-interference" clause, which allows CMS to negotiate drug prices for an escalating number of high-spend Part D and Part B medicines, reaching 60 drugs in 2029.Other new drug pricing measures include redesigning Medicare Part D contribution structures, inflation-based rebates from manufacturers, increasing fees for Medicare-qualifying biosimilars, and vaccine and insulin cost-sharing.

*Register for the webinar **here**.*

*Meet Our Speakers:*

*Mark McClellan MD, Ph.D., *served as the Food and Drug Administration commissioner of the FDA from 2002 to 2004 and the administrator of Centers of Medicare and Medicaid from 2004 to 2006, where he developed and implemented major reforms in health policy, including the Medicare prescription drug benefit and Medicare and Medicaid payment reforms. He has also previously served as a member of the President's Council of Economic Advisers and senior director for health care policy at the White House, and as Deputy Assistant Secretary for Economic Policy at the Department of the Treasury. He is currently the Director of Robert J. Margolis Center and a Professor of Business, Medicine, and Policy at the Duke-Margolis Center for Health Policy. Dr. McClellan also chairs the National Academy of Medicine's Leadership Council for Value and Science-Driven Health Care, co-chairs the Guiding Committee of the Health Care Payment Learning and Action Network, and is a research associate at the National Bureau of Economic Research. He is a Senior Advisor on the faculty of the University of Texas Dell Medical School and independent director on the boards of Johnson & Johnson, Cigna, Alignment Healthcare, and PrognomIQ.

*Lisa Kennedy, Ph.D.,* is Co-founder and Chief Economist of Innopiphany LLC.,an SBA-certified HUBZone and 100% women-owned company* *specializing in value policy, market access, real-world evidence, and social determinants of health. Dr. Kennedy has previously served as GM for the Lewin Group Europe, Chief Economist and Global Head of Marketing Operations for GE Healthcare, and Chief Marketing Officer for GE's innovation incubator, healthymagination. Dr. Kennedy has several peer-reviewed articles and has spoken internationally to NASA, the NHS, the EU, SXSW, FutureMed and, the White House Office of Science and Technology Policy (OSTP), HIMSS, among others. Dr. Kennedy has been quoted by the Wall Street Journal and National Public Radio on future healthcare trends in consumer health and received the 1994 Russel Trust Award and the Gray Prize for research that changed WHO practice in the treatment of tuberculosis in Addis Ababa, Ethiopia.

*Contact:*

Kyra Lee
info@innopiphany.com
+1 949-304-5052

*SOURCE:* Innopiphany, LLC
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https://www.accesswire.com/761850/Navigating-the-Inflation-Reduction-Act-IRA-with-Former-FDA-Commissioner-Mark-McClellan