Tag: life sciences industry

Service Spotlight: Monitoring & Forecasting Keeps Healthcare and Life Sciences Stakeholders “In the Know”

Many healthcare and life sciences industry stakeholders often wish they knew about pending laws before they are enacted, why a new regulation was drafted the way it was, or why they are being asked about information from a supply chain partner on an issue they knew nothing about. Not being “in the know” raises the risk of being unprepared for an emerging law or regulation and can also hurt a business’ bottom line.

Frier Levitt Government Affairs (FLGA) offers a hybrid service flexible with an organization’s changing needs. FLGA monitors and forecasts issues of importance for healthcare and life sciences stakeholders, including state and federal legislation and regulation, all presented in a concise, easy to understand and time friendly format. FLGA’s monitoring and forecasting services allow stakeholders to stay educated and engaged on new developments before the trends become mainstream.

With laws and regulations changing all the time, it is imperative for healthcare and life sciences stakeholders and organizations to be proactive instead of reactive. Contact Frier Levitt Government Affairs today to get “in the know” and finally be prepared for the changes ahead.

The End of Summer is the Right Time for Strategic Planning in the Healthcare and Life Sciences Industries

The end of summer is traditionally a slow time during the legislative calendar. Most of the state governments have adjourned and historically members of Congress escape the D.C heat to head back home to their districts. This time of year can be a great time for companies and organizations looking to get more involved with their legislators to contemplate a plan to introduce themselves to legislators in the district. Additionally, with the power in Congress potentially hanging in the balance due to the upcoming mid-term elections this coming November, opportunities abound for companies and organizations that are aggressive in proactive government affairs planning.

Seldom has there been a time of greater policy and regulatory change in healthcare. An active HHS Secretary has been pushing policies such as importation, greater Medicare negotiating power, which is being proposed through a possible merger of Medicare Parts B and D, utilization of step therapy protocols, investigation of Pharmacy Benefit Managers. In addition, an active FDA is pushing for greater generic utilization, challenges to drug pricing and friendlier biosimilar policies. The recent policy changes will have a lasting impact on the healthcare and life sciences industries, and typically state legislatures enact state laws that address the same topics and are often have substantial impact on Providers.

The last year has also witnessed CMS’ increasing reliance on issuing Requests For Information (RFIs). This rulemaking process involves a proposed rule from the agency outlining the regulation CMS is looking to either add or change. Proposed rule announcements are usually followed by a comment period, public workshops/hearings, a final comment period and then a final rule with effective date. The RFI process provides opportunities for the industry to comment on the technical aspects of a proposal. However, the Administration is using agencies like CMS to distribute RFIs as a way for the industry to guide the conversation on what should be included. This could provide your organization with another way to influence policy, giving you even more reasons to take this “quiet” time during the legislative calendar to contemplate strategy.

The end of summer should be used to evaluate every healthcare stakeholders’ priorities and to design a game plan for achieving government affairs strategies and results. Each company or organization should consider how it is positioned for the upcoming elections. Are you comfortable with how your state and federal government interests are being advocated? Is your company or association prepared for different policies if Democrats take control of a particular house of the legislature? Lastly, what has been your organization’s philosophy for government engagement? Have you let your industry competitors or trade associations take the lead? While you may indirectly benefit from these actions, you should consider how whether the discourse aligns with your interest. Consider getting more active with strategic consulting, lobbying, PAC formations or undergoing an aggressive issue management program.

Frier Levitt Government Affairs, LLC, works with all types of companies and organizations across the healthcare and life sciences spectrum to help them stay ahead of the market and avoid policy surprises on the state and federal level, ranging from issue management to active engagement such as RFIs. Contact us today to see how your company or organization can get started.