Continued rising drug prices, as well as shortages for many critical medications, are impacting patient care and putting strains on hospital budgets and operations. That’s why hospitals and health systems have gathered to create Civica Rx, a not-for-profit generic drug company that is disrupting the pharmaceutical market. Chip spoke with Martin VanTrieste, Civica’s President & CEO about why and how the company was formed, the success it is enjoying so far, and if other drug companies will follow its lead.
EPISODE UPDATE, Since our recording VIZIENT has announced it will collaborate with Civica to help reduce chronic drug shortages by providing insights into purchasing patterns and provider needs. Vizient will apply its expertise in analytics and data capabilities, helping Civica anticipate gaps in drug availability and affordability.
In response to Vizient’s commitment, Civica’s VanTrieste said, “The more people collaborating to solve the nation’s drug shortage problem the better…we applaud Vizient for prioritizing hospital patients by taking action to help them have timely access to the treatments they desperately need on a day-to-day basis.”