After spending more than 10 years with Methodist Dallas Medical Medical Center as vice president of operations and director of pharmacy, Jon Albrecht, RPh, was appointed to vice president of pharmacy for the Methodist Health System in summer of 2018.
Mr. Albrecht has managed pharmacy services in inpatient facilities, emergency departments, ambulatory clinics, home health and jail services. He an expert in pharmacy informatics.
Becker's Hospital Review recently asked him to discuss the skills pharmacy leaders need in today's healthcare climate, the advice he would offer to other leaders and the disruptors that have his attention.
Editor's Note: Responses were edited for length and clarity
Question: What skills are essential for pharmacy leaders in today's healthcare climate?
Jon Albrecht: Pharmacy leaders traditionally have been great at discipline and focus. Today, pharmacy leaders must be flexible and able to shift priorities at a moment's notice. Paying attention to the healthcare environment and seizing opportunities are key. Pharmacy leaders must move out of their comfort zone [the pharmacy] and understand the bigger picture. Strong pharmacy leaders must also collaborate with other healthcare leaders.
Q: When it comes to managing drug spend, what advice would you offer other pharmacy leaders?
JA: While spend is important, it is imperative that pharmacy leaders understand that today’s healthcare environment is not all about the spend. Pharmacy leaders must also teach their healthcare leaders and C-suite that it is not all about the spend. Focusing on drug spend alone may result in lost opportunities to generate revenue or reduce overall spend by improving overall efficiency or outcomes.
Q: What healthcare disruptors have your attention?
JA: The easy answer is the Amazon, Berkshire Hathaway and J.P. Morgan collaboration, but I don't think anyone has clear idea on their plan. For me, the federal government is the first disruptor which comes to mind. Government proposals that would impact the ACA, 340B, pharmacy benefit manager fees, manufacturer rebates, or drug pricing all could have significant effects on care and costs. The second disruptor is the mergers and acquisitions activity, such as CVS/Aetna, Humana/Kindred, Optum/DaVita and several health systems to name a few, which are bringing consolidation and vertical integration. It appears bigger may be better in leveraging strategic advantage. With the flurry of M&A and consolidation, I am concerned about the "little guys" that provide a safety net to many patients. Finally, as a pharmacy leader, I would be remiss in not mentioning the drug supply chain as a disruptor. Pharmacy managers are spending substantial resources dealing with shortages and alternate supply sources from 503A/503B compounders. Drug shortages have disrupted the entire healthcare system causing drug safety issues, care disruption and increased regulation from the FDA and state pharmacy boards.