How CareSet's Trivia Night Outshined Happy Hour: A Unique Take on a Pharma Focus Group

CareSet's first-ever Medicare Trivia Event, which took place during the 2024 PMSA Annual Conference in Denver this month, was a unique blend of fun, learning, and competition, strategically designed to attract pharma leaders during a challenging time slot. Initially, our focus group was scheduled for 6:30 pm, but we quickly realized we would be competing with dinner plans. The photo we took of the empty venue at that time spoke volumes. Shifting the event to 4:15 pm presented a new challenge: competing with Happy Hour. So, we rolled up our sleeves and brainstormed, eventually coming up with an interactive trivia game, complete with locally sourced Colorado prizes, to entice participants.

Why a Trivia Night?

To capture the attention and participation of pharma leaders, we needed something interactive and engaging. A trivia game fit the bill perfectly, offering a blend of challenge and fun that made it the perfect pre-Happy Hour activity. It went so well, one participant leader reached out afterwards to reuse the questions during their internal all-hands meeting!

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Highlights of the Trivia Event

The trivia night featured four rounds of captivating questions that tested even the most knowledgeable participants. Each round comprised five multiple-choice questions covering various aspects of Medicare, including drug pricing, Medicare reforms, oncology quality measures, payment systems (Inpatient IPPS and Outpatient OPPS), NTAP, and CareSet's background and expertise. For prizes and bragging rights, participants could join any or all rounds. With two winners crowned per round and a grand prize featuring Colorado-made goodies, it was an event not to be missed. We had a total of 28 pharma leaders participating, making it a lively and competitive event.

Here are some of the toughest questions:

1. Brand Sales Threshold for CMS Price Negotiation Exclusion:
   • Question: What is a brand's total sales threshold to be excluded from price negotiation, and in what year does this information impact the manufacturer?
   • Correct Answer: $200 million in Part B/D sales and 2026 drug price negotiations.
   • Results: 6% of participants got it right.
   • Why It’s Important:  Using CareSet's spending dashboard, our clients identified branded drug spending totals across Part D and Part B between June 1, 2022, and May 31, 2023 several months in advance of CMS’ announcement, allowing them to prepare for negotiation and its knock-on effects. 

2. Part D Coverage Changes Impact:
   • Question: What is the key impact to pharma from Part D coverage changes in 2025? 
   • Correct Answer: Manufacturers provide a 10% discount in the Initial Coverage Stage and a 20% discount in the Catastrophic Stage.
   • Results: 33% of participants got it right.
   • Why It’s Important: This is critical for the industry estimating its future gross-to-net forecasts!

3. Medicare and Medicaid Share of National Health Expenditure:
   • Question: Spending a total of $1.8 trillion, approximately what share of National Health Expenditure is Medicare and Medicaid?
   • Correct Answer: 39%.
   • Results: 22% of participants got it right.
   • Why It’s Tough: This question demanded precise knowledge of national healthcare expenditure data, a challenging task given the varying statistics available.

Next Steps

CareSet's Inaugural Medicare Trivia Night was more than just a game; it was an opportunity to engage industry professionals in a fun and thought provoking way. It showcased CareSet’s commitment to helping the Pharma industry adapt quickly to Medicare policy shifts, and fostering knowledge among its professionals.  

This post is part of a series where we'll tackle these tough questions and more, providing insights and deeper understanding into the world of Medicare policy, data, timelines, and measuring their impact on patients, providers, and health systems. Stay tuned for detailed explorations and expert insights in our upcoming posts!