About Steven Medina

Steven Medina is the Vice President of Managed Markets Services at Covance. Mr. Medina has led the Covance Managed Market Services business since, July 2012. He has been a consultant for 25 years, 21 of them with healthcare manufacturing, specializing in on-going service solutions (system and business processing), account management, and systems implementation. Mr. Medina has extensive experience with contract management and sales and marketing. Before joining Covance, Mr. Medina worked for CSC as a Partner Level 2 where he was a Solution Leader for CSC’s HAALO (Healthcare Applications Augmentation and Leading-Edge Outsourcing) practice; IMS Health, where he ran the Delivery Services organization and was responsible for providing Managed Market Solutions; and Highpoint, where he was the Vice President of Managed Service. Mr. Medina has demonstrated the ability to work with clients to help them identify their needs to create a solution that meets their requirements as well as their budgets. He has been part of many large pharmaceutical firms’ projects and service agreements from start to finish. Mr. Medina received his Bachelor of Science in Computer Science from the Rensselaer Polytechnic Institute located in upstate New York.

Your Customers and Your Market Access Are Changing!

Your Customers and Your Market Access Are Changing! - Covance BlogUS health care is exponentially more complicated today than just 5 years ago. Even the most competent, experienced marketing teams may not anticipate or clearly understand the complex forces that are changing how we select, dispense, and reimburse for drugs and devices.

Changes in Traditional Customers

Pharmacy Benefit Managers (PBM) are your primary contracting conduit into commercial and Medicare Part D plans to assure formulary market access. The FTC approved the $29.1 billion ESI-Medco merger, further consolidating the PBM group. If your new product is not granted preferential access on a national PBM, you may be losing access to 70 million patients. Continue reading

Contract Lifecycle Management: “The New Normal”

Contract Lifecycle ManagmentPharmaceutical manufacturers are operating in a highly competitive, complex and regulated market where the effective management of contracts, pricing, and rebates is vital to the overall health of their business. Without the right contracting infrastructure and processes in place, companies risk losing visibility and control over the contract lifecycle management, which can ultimately lead to revenue loss and non-compliance with government regulations.

Currently, the economic environment is challenging pharmaceutical manufacturers to grow amidst the reality of budget cuts and staff reductions. As contract scenarios become more complex, and companies lack the resources they once had, greater visibility into contract performance is even more critical. Administrative costs for pharmaceutical manufacturers are also increasing. A study conducted in 2012 by Deloitte confirmed that the cost for managing chargebacks and the rebate process is targeted to increase approximately 54% over the next five years. Continue reading