Session Title: The Inflation Reduction Act & Its Impact on Community Pharmacy
Session Description: This session will bring participants up to date on the Inflation Reduction Act (IRA). Since its implementation, the IRA has garnered significant criticism for the financial challenges it imposes on community pharmacy. The pharmacy business model is under siege—leaving pharmacists struggling to achieve profitability. Engaging with legislators and regulatory agencies is ever-critical not only for influencing the IRA trajectory but also for ensuring the viability of community pharmacy.
Session Objectives: As a result of this session, participants will gain an understanding of:
- The Inflation Reduction Act and its associated timeline
- Intended and unintended consequences to the pharmacy industry
- How the IRA affects beneficiary options
- How to take action to mitigate the impact on pharmacy
Bio: Melanie Maxwell is an industry-leading expert with over 30 years of experience in pharmacy administration. In 2021, she became the president of AlignRx, where she played a pivotal role in combining the operations of two previous pharmacy services administrative organizations (PSAOs) to form AlignRx. Under her strategic leadership, AlignRx has emerged as the nation’s largest independently owned PSAO. Ms. Maxwell continues to lead the company in providing best-in-class solutions and advocating for fair reimbursement for community pharmacy.
Ms. Maxwell began her career in pharmacy administration in 1990, where she negotiated third-party contracts for a regional chain pharmacy. In 1995, she transitioned to managing and directing contracts for an HMO, where she was responsible for network contracting, benefit development for commercial and Medicare Part D programs, oversight of PBM functions, pharmacy and therapeutics (P&T) committee, and credentialing programs.
In 2010, Ms. Maxwell moved to Pharmacy Providers of Oklahoma (PPOk), where she served the independent pharmacy sector by developing programs under the PSAO division. Her primary role involved negotiating pharmacy network agreements with third-party payors, including insurance plans and PBMs. Ms. Maxwell also led PSAO operations, including pharmacy network contracting, pharmacy credentialing, contract analysis and compliance, claims reconciliation, audit services, and clinical pharmacy networks. Throughout her career, Ms. Maxwell also served on numerous pharmacy advisory boards and a national PBM P&T Committee.
Ms. Maxwell is a proud Oklahoma native. She earned a Bachelor of Arts in Finance from Northeastern State University and a Master of Public Health from the University of Oklahoma.