Pharma Ventures has been exploring risk-based contracts with pharmaceutical partners, which are designed to link drug prices to drug performance with actual patients. ![]() After all, prescribing drugs as part of treatment modalities is an integral part of physicians' responsibilities, and the companies that create these drugs should be given a seat at the table to forge partnerships that can lower costs and increase efficiency. ![]() Recognizing that pharmaceutical companies are key stakeholders in the health care ecosystem, I meet regularly with pharmaceutical company executives to discuss mutually beneficial strategies. It's led by Elaine Brennan, one of our healthcare executive with a background in the pharmaceutical industry, who has helped formalize our agenda around clinical trials, research and value-based agreements. At Northwell, we've created an entity called Pharma Ventures that focuses attention and resources on enterprise partnerships with pharmaceutical companies. ![]() Collaborating with pharmaceutical companiesįrom an ethics and a compliance standpoint, we all recognize the reasons why we needed to better manage the way pharma reps market to providers, but for the benefit of our patients, we still need to be collaborating with Big Pharma.
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