Reference no: EM133298133

Question: President Trump signed four executive orders taking action to lower the price of prescription drugs and give Medicare more bargaining power. In 2021, President Biden followed up with an executive order promoting competition to lower drug costs. All of these actions will likely change the way pharmacy discounts are negotiated and benefits are passed on to Medicare beneficiaries. Assume that you are the Chief Strategy Officer (CSO) within a mid-sized health system and your system has just implemented a medication cost management program to address the rising cost of prescription drugs. How would you evaluate your existing strategy in light of these recent changes? How do you think these executive orders might impact the current strategy/strategies that your organization has implemented? As the CSO of the health system, what sort of changes, if any, would you be expecting to make to your existing strategy/ strategies? If any changes are to be made to the strategy, what resources and competencies will your organization have to use/allocate? Talk about specific resources that you might need for this.