Why Drug Prices Keep Rising: Pharmacists Perspectives | Patrick Devereux
The Lindsey Elmore Show
Lindsey Elmore
5.0 • 529 Ratings
🗓️ 11 June 2024
⏱️ 52 minutes
🧾️ Download transcript
Summary
Topics covered in this episode:
Drug Pricing Issues
Pharmacy Benefit Managers
Spread Pricing Concept
Independent Pharmacy Challenges
DIR Fees
Fair Meds Act
340B Pricing
PBM and Drug Company Negotiations
Expensive vs. Cheap Medications
Community Pharmacist's Role
Drug Seeking Behaviors
Future of Drug Pricing
Alternative Pharmacy Business Models
Front-End Pharmacy Sales
To learn more about Patrick Devereux and his work, head over to www.fms-pharmacy.com
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Transcript
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| 0:00.0 | Welcome to the Lindsay Elmore Show, a podcast for people who deserve to be healthy with honest, open, and enlightening conversations with doctors, thought leaders, creatives, and spiritual gurus. |
| 0:13.6 | You'll walk away with simple and tangible tips and tricks that allow you to live your healthiest life so you can pursue your dreams, |
| 0:23.9 | overcome obstacles, and leave your mark. Welcome everybody to a live edition of the Lindsay |
| 0:30.9 | Elmore show. Super excited here to be with my colleague Patrick Devereaux. This is a guy that I have |
| 0:36.4 | worked with for a really long time |
| 0:38.7 | and was my closest colleague for years and years and years and just have the utmost respect |
| 0:43.6 | for him as a pharmacist and he has been practicing pharmacy since 2005. He's the president |
| 0:50.4 | and the CEO of Family Medical Services, which owns four retail pharmacies in the |
| 0:55.5 | Birmingham area. He is also the owner of Happier at Home, an in-home senior care franchise. |
| 1:03.3 | Patrick is passionate about patients being informed about their medications, and that was one of the |
| 1:08.0 | things I always, we always took time to take care and make |
| 1:11.8 | sure our patients really understood their medicines and he also likes using therapies to achieve |
| 1:17.2 | the desired outcomes he lives right down the road for me in Hoover with his partner |
| 1:21.8 | Noel his three children Joseph Colin and Lorelei who give the most epic Santa photos of all time. |
| 1:30.0 | They are amazing. |
| 1:31.7 | And they're three dogs. |
| 1:34.0 | So welcome, Patrick, to the Lindsay Elmore show. |
| 1:37.8 | Yeah, so one of the things that you and I have in common is that we have just watched pharmacy kind of go off the deep end in recent |
| 1:47.7 | years. And one of the ways that it's gone off the deep end is because drug pricing is not |
| 1:52.7 | regulated by the federal government. And it's something that I have a very special interest in. |
| 1:57.0 | And I know you do as well. And so talk to us about, you know, you don't just own retail pharmacies. |
| 2:04.3 | They're independent community pharmacies, which is a fundamentally different thing that is |
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