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Medical billing services for cardiologists are already complex, and to accommodate changing billing requirements, we should be aware of the updates to maximize revenue.

Believe it or not, each step taken, each system constructed, and new strategies adopted by the medical billing services influence revenue management. They can either make it or break it.

The Royal Pharmaceutical Society (RPS) has decided to lease two floors of its east London headquarters to Ingeus, a business with services in employment, health, justice and youth. RPS will retain three floors of the building, including its museum and library on the ground floor, as well as the two upper floors which will be used for events, collaborative working and team meetings. The decision follows an announcement in April that the the Society was re-evaluating whether it needed to hold on to its current office space as homeworking was becoming the norm due to the Covid-19 pandemic. The Society also wanted to maximise value from its property and generate additional revenue which could "be reinvested into further developing our valued products and services". Ingeus runs the government-sponsored Restart Scheme to help people find jobs in their local area.

Omnicell Limited, a wholly owned subsidiary of Omnicell - an American healthcare technology company, has signed an agreement with the shareholders of Hub and Spoke Innovations Limited to acquire Hub and Spoke Innovations. Hub and Spoke Innovations Limited is distributor of the Pharmaself24 prescription collection kiosk in Great Britain. The move will complement Omnicell's total solution technology portfolio for retail pharmacy in the UK, including a pack-pick dispensing robot, automated MDS filling machine and eMAR solution, thereby helping pharmacies to improve workflows and offer a 24/7 access to medications and patient care. It will also help community pharmacies achieve their goals, as they increasingly look at ways to make their businesses more efficient and free up staff to offer more pharmaceutical care and services to patients. In short, the deal would enable Omnicell to offer a wider range of digital technologies to streamline retail pharmacy operations, allowing pharmacists to spend more time with patients and focus on value-added, revenue-generating healthcare services, such as vaccinations.

Private healthcare provider CityDoc has partnered with the National Pharmacy Association (NPA) in its bid to widen a "nationwide network of vaccine clinics" to increase footfall to community pharmacies that come onboard. The company says NPA member pharmacies that join the network will have their own dedicated page on the CityDoc website, while benefiting from having online marketing done on their behalf via an extensive Google AdWords campaign and local listings optimisation - all paid for by CityDoc. The participating pharmacies will also have access to their own booking system, marketing materials and access to the latest vaccine and private healthcare information. NPA member Nick Daines, who runs Lifestyle Pharmacy in Bath, said he has partnered with CityDoc for six years and seen "a significant increase in revenue from private services." He added: "The CityDoc partnership has allowed us to establish Lifestyle Pharmacy as a go-to venue for healthcare within Bath. "We have seen significantly increased footfall thanks to our partnership with CityDoc, which in turn has allowed us to grow the NHS and retail aspects of the business."

The High Court has dismissed the British Generic Manufacturers Association (BGMA)'s claim on being excluded from ongoing negotiations between the government and industry to agree a new Voluntary Scheme for medicine pricing and access (VPAS). The association had sought a judicial review of the Department of Health and Social Care's (DHSC) decision to negotiate a new Voluntary Scheme for branded medicines with the Association of the British Pharmaceutical Industry (ABPI) in April. Commenting on the result of the case, Richard Torbett, Chief Executive of the ABPI said: "For over 60 years the ABPI has acted as the representative industry body for negotiations on the Voluntary Scheme for branded medicines - a responsibility we take extremely seriously - and one which has been reaffirmed by today's judgment. "While we were disappointed that the BGMA decided to take this action - we recognise their decision was driven by the extreme challenge placed on all parts of the industry from the surge in the branded medicine payment rates. "The solution to these problems must be a completely new and sustainable approach to medicines provision in the UK which rapidly brings industry revenue payments in line with comparator countries to unlock investment and growth."

The government has launched a consultation into radically changing the Statutory Scheme for branded medicines (known as the Statutory Scheme). The consultation comes as delicate negotiations for replacing the alternative Voluntary Scheme are underway, potentially undermining these talks, while also further damaging industry confidence in the UK as a viable place to research, launch and supply medicine. The government proposals seek to hold average revenue clawback rates under the Statutory Scheme at historic highs of between 21-27%, compared to the pre-pandemic averages of 9.4% for the Statutory Scheme (2019-2021), and 6.88% for the Voluntary Scheme (2014-2021). The accompanying cost-benefit analysis ignores any negative impact this may have on medicine supply and wrongly claims it will boost investment. The consultation comes on the heels of government data last week showing UK life sciences foreign direct investment (FDI) fell by 47% between 2021 and 2022, down by £900m year on year. This large fall in investment coincided with a rise in the main UK clawback rate under the Voluntary Scheme from 5% to 15%, and led to the UK falling from 2nd to 9th out of 18 comparator countries for life sciences FDI in 2022. The Voluntary Scheme clawback rate now sits at a record 26.5% in 2023.

The British Generic Manufacturers Association (BGMA) has warned of the significant implications for future supply as a result of the crippling VPAS rate. The warning comes after the association's judicial review into the Government's decision to bar it from being a full part of the negotiations for the next five-year VPAS period was dismissed. The voluntary scheme for branded medicines pricing and access (VPAS) is an agreement between the Department of Health and Social Care (DHSC), NHS England and The Association of the British Pharmaceutical Industry (ABPI). The scheme aims to limit increases in spending on branded medicines to no more than 2% per year via a rebate system which is charged on companies' sales revenues. Two years ago, the rate was 5.1%, but in 2023 it has soared to 26.5%. All biosimilars and a proportion of the generics market falls into the scheme.

British pharmacy chain Superdrug has announced plans to cease the sale of disposable vapes in all its UK and Ireland stores, citing the environmental impact caused by its disposal and popularity among young people. The pharmacy retailer will discontinue selling brands like Vuse GO and Flavaah Bars, with plans to completely clear out existing stock by the end of the year, the company said in statement. Superdrug, which previously sold 1,300 single-use vapes weekly, expects a potential impact on revenue stemming from this decision. The company has not yet started selling vapes online. "This decision was made to safeguard the environment," the company said on Sept.22, highlighting the risk of fires due to improper disposal of vapes, as many of them contain lithium batteries.

Pharmaceutical giant AstraZeneca will acquire biotechnology company Neogene Therapeutics for up to $320 million, the London-listed drugmaker said on Tuesday (November 29) as it seeks to build its pipeline of cell-based cancer treatments. Though AstraZeneca's oncology portfolio accounted for more than a third of the company's revenue last year, it does not have an approved cell-based cancer therapy and is behind rivals such as Novartis and Gilead. "Neogene's leading (T-cell receptor) discovery capabilities and extensive manufacturing experience complement the cell therapy capability we have built over the last three years," said Susan Galbraith, AstraZeneca's executive vice president of oncology research. Cell-based treatments are a relatively new approach to treating cancer, most of which involve drawing the body's own immune cells and processing them in the lab to target and kill cancer cells. Neogene's approach goes one step further in that its experimental T-cell receptor therapies seek to target DNA mutations specific to tumours, not only certain proteins on the surface of cancer cells.

Positive Solutions is set to launch its new, innovative, cloud-based medicines management system - HxCare which will be showcased in October at the Care Show. HxCare will be free of charge to community pharmacies signing up to the HxCare Affiliate Programme (HxCAP) making it an ideal platform to support existing care home business and attract new ones. The cloud-based medicines management system aims to digitise workflows, reduce errors and free up care providers to spend more time delivering care to their residents. Designed to be truly mobile, HxCare will be tablet based and has been developed by working closely with both care homes across the sector and their pharmacy partners who relish the prospect of an eMAR solution that integrates into their Analyst PMR. It is one of five new products being launched by Positive Solutions on the Hx platform this year. HxConsult is already live supporting pharmacies looking to maximise their service revenue. HxIntel will deliver real-time dashboards, reports and insights into the performance of pharmacy businesses of all sizes. My Health Hub will revolutionise patient pharmacy relationships whilst HxDispense is set to be the ultimate next generation PMR system. This modular, cloud-based interoperable ecosystem takes healthcare technology to a new level.

The collapse of the three trading entities in the Converse Pharma Group (Testerworld Limited, Doncaster Pharmaceuticals Group Limited and Eclipse Generics Limited) (the Group) in May 2022 undoubtedly caused ripples throughout the pharmacy industry. The Group, a major supplier of pharmaceuticals, had a combined turnover over £300m, employed 1,000 staff members and supplied over 4,000 pharmacies throughout the country. The Group is licensed and regulated by the MHRA. At the beginning of 2021, a breach of the MHRA licensing regulations caused a temporary (but prolonged) cessation of trading. The Group was able to secure the ongoing support of its secured creditors during this time, however, when the licenses were subsequently reinstated, they came with restrictions. Unfortunately for the Group, the period of the suspension and the subsequent restrictions over the licences caused a significant reduction in revenue, from which the Group was unable to recover. Ultimately, by May this year, the companies in the Group had exhausted their working capital and had no prospect of raising the funding they required to continue to trade.

New GSK raised its 2022 forecast for the second time this year, after third-quarter earnings and sales topped estimates, continuing its strong start as a standalone prescription medicine and vaccine business since carving out its consumer health division Haleon. After years of underperformance relative to its peers and missing out on the lucrative market for the first set of COVID-19 vaccines, GSK has delivered a string of strong results. The latest is led by a record quarter for its blockbuster shingles vaccine Shingrix and higher-than-expected revenue from its COVID therapy, Xevudy. Having survived a revolt by activist investors Elliott and Bluebell last year, GSK's prospects have been boosted by clinical trial success, though concerns remain around U.S. litigation over heartburn drug Zantac. Thousands of lawsuits have been filed in the United States against a raft of drugmakers over allegations the heartburn drug contains a probable carcinogen.

The British Generic Manufacturers Association (BGMA) has published a positioning paper which sets out the objectives that need to be delivered through the next Voluntary Pricing and Access Scheme (VPAS) on Thursday (15 June). The paper details how a financially sustainable VPAS can support widened medicines access to patients. VPAS is an agreement between the Department of Health and Social Care (DHSC), NHS England and The Association of the British Pharmaceutical Industry (ABPI). The scheme aims to limit increases in spending on branded medicines to no more than 2% per year via a rebate system which is charged on companies' sales revenues. Two years ago, the rate was 5.1% but for 2023 it has soared to 26.5%. Last year, the association had raised concerns over the rise in the VPAS rate for 2023 to 26.5 per cent. "The rocketing rate is in large part due to the growth in spend in on-patent medicines since 2019. Looking at the four completed years of the current VPAS scheme, data shows that the average annual growth rate for on-patent medicine sales value from 2019-22 was 18% compared to just 2% for off-patent products," said the association.

The government has extended VAT exemption from Monday (1 May) on healthcare services carried out by pharmacy staff under the supervision of pharmacists. HM Revenue and Customs has issued a note detailing the change to the VAT treatment of medical services. The Government said this will bring the VAT treatment of pharmacists in line with other registered health professionals providing medical services to the public. The Pharmaceutical Services Negotiating Committee (PSNC) said: "This is something that PSNC has been seeking Government agreement on for a long time, including in recent CPCF negotiations." PSNC believes that the extension of this VAT exemption will help as community pharmacy businesses try to make better use of the skill mix in their teams both now and in the future. "Not only does it enable contractors to review the VAT status of any locally commissioned services currently provided by non-registered pharmacy staff but also, in time, it could be used to amend nationally commissioned services to allow support staff to provide certain parts. For example, following a recent amendment to the service Directions, pharmacy technicians are now able to perform blood pressure checks as part of the Hypertension Case-Finding Service and deliver the Smoking Cessation Service.

The Royal Pharmaceutical Society (RPS) has appointed Neville Carter as its new chief education and membership officer. Neville joins RPS from the Royal Society of Medicine (RSM) where he is currently director of engagement, leading a team of over 60 and responsible for creating a combined directorate accountable for education, membership, philanthropy, and business development. He has, in particular, led on the development of a digital education strategy and launched professional development training programmes for members. Prior to joining the RSM, Neville worked as director of product and sales at the British Medical Association with responsibility for membership growth, supporting corporate transformation and developing and managing member benefits and relationships with third-party providers to support revenue growth. He also has senior manager experience at the RAC and at British Airways. Commenting on the appointment, Paul Bennett, RPS CEO, said: "I'm delighted that Neville will be joining our Executive team. He brings a wealth of relevant experience and this, in combination with a strong existing education and membership team at RPS and a clear ambition to strengthen the relevant functions further, will enable the organisation to deliver a dynamic offering for our members.

Community pharmacists are readily accessible healthcare providers and medicine experts in the community setting and their counsel is often sought by patients and consumers on a number of subjects including the use of dietary supplements. Their role in the sale of and advice regarding natural health and drug alternatives has never been more relevant. The recent National Health Service (NHS) Interim People Plan calls for the NHS to put all staff front and centre of the way it operates and identifies pharmacists as a critical part of multidisciplinary teams, providing care across a wide range of increasingly complex patient needs. Despite existing demand to counsel patients on a vast range of medicines, more and more consumers are looking to their pharmacist to support and enhance their knowledge regarding the relevance of a growing range of supplementary nutrients now available. Nutritional supplementation is increasingly becoming the consumer's first choice for 'drug free' treatment or natural prevention that provides a true sense of taking control, which the prescription process often denies them. Historically the immense benefits provided by the NHS have instilled a general abdication of our personal health control, leaving us to rely on the health service to treat and cure as necessary. As our NHS has become visibly over-stretched we begin to realise what the rest of the world has known for centuries - good health is based primarily upon nutritional robustness. It may be stating the obvious but there is an excellent source of incremental revenue for the pharmacist who is willing to provide space to and advice for nutritional supplements.

American biotechnology company Novavax said on Monday (February 28) it would pursue full approval of its Covid-19 vaccine in the second half of this year and forecast total revenue of between $4 billion and $5 billion for 2022. "We expect to gain additional authorizations where we have already filed, including in the US. We will pursue full approval of our vaccine including filing our BLA (biologics license application), in the second half of 2022," CEO Stanley Erck said during a post-earnings call. Novavax late last month filed for emergency use authorization of the shot in U.S. adults, a much-awaited step following months of struggles with development and manufacturing problems. Novavax said it has completed delivery of around nine million vaccine doses to Indonesia, 6 million to Australia and two million to South Korea and expects to supply 69 million doses to Europe in the first half of this year.

Pfizer said on Tuesday it will pay $11.6 billion to buy Biohaven Pharmaceuticals, making a big bet on its ability to boost sales of the top-selling pill in a new class of migraine drugs. The boards of both companies have approved the deal, they said. Biohaven shares jumped 70 per cent to $141.31, while Pfizer was up slightly at $48.83. Pfizer is flush with cash from a once-in-a-lifetime surge in revenue from Covid-19 vaccines and therapeutics and has said it is looking to buy companies or drugs that could add at least $25 billion in annual sales by the end of the decade. "The CGRP oral medications, though still somewhat newer entrants in a deeply entrenched space, continue to make steady inroads in disrupting the broader migraine market in the U.S.," said BioHaven chief executive Vlad Coric. Biohaven forecast Nurtec sales of $825 million to $900 million in 2022. Pfizer said it expects the pills to eventually overtake the shots.

It's 2022 and data is everything, isn't it? Advertising, decision-making, you name it, data is behind it. What if an ePharmacy could use its own data as an asset? If you knew that sooner or later, you'll be able to turn your data into a revenue stream, wouldn't that be something? And this is exactly what Convert Group does. Convert Group offers the complete eCommerce SaaS ecosystem that helps ePharmacists and brands grow sales, streamline collaboration, and seize data monetization opportunities. Built for scale, Convert Group's platform leverages automation and offers a unique user experience backed by our leading eCommerce team.