President, 3 Axis Advisors
This week, Ira spoke with Antonio Ciaccia, president of 3 Axis Advisors, which conducted a study to determine how prescription prices are being set. In this prescriptive episode of “Ira’s Everything Bagel,” Anthony talks about the results of the study, which concluded that the overwhelming majority of prices paid by consumers at the pharmacy counter are based on price points established by health insurance corporation intermediaries known as pharmacy benefit managers (PBMs); why, in a broader eco system, we’re supposed to overpay for brand drugs; how health insurance companies and PBMs, brought in to contain costs, actually do the opposite; and why he proposes more transparency and an end to the exemption to the “anti-kickback” law.
Antonio Ciaccia is President of 3 Axis Advisors. After three years as a pharmacy technician and two years of pre-pharmacy curriculum, Antonio graduated from The Ohio State University in 2007 with dual degrees in communications and political science and moved into the world of research and association management. He led government affairs for the Ohio Pharmacists Association, a trade organization with a strong track record of advocating for drug pricing transparency. Antonio has since spent years studying the pharmacy marketplace, publishing several analyses on the drug pricing code and pulling the rug out from what he believes is one of the most dysfunctional marketplaces in the world.