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Donald M. Lea, IIPresident and Chief Executive OfficerDonald M. Lea, II founded Aspect Enterprises Limited, Inc. (AELRx, Inc.) in 1994, launching a unique concept in Pharmacy Benefit Management consulting.AELRx
offers employers solutions to the complex practices used in the pharmaceutical industry today.AELRx
currently represents over four million lives nationally and continues to grow as the need for pharmacy solutions continues to increase.Prior to founding AELRx, Don spent three years as an officer of one of the largest Pharmacy Benefit Managers in the nation.He
has also held prominent positions representing several major managed care organizations that span more than a 15-year period.Don
has developed a strong national reputation for ensuring that his
clients receive the best Pharmacy Benefit Management programs possible from their vendors.It is Don's strong reputation as a client advocate and his
extensive expertise in the industry that has lead to his
growing role in national speaking engagements regarding pharmacy benefits.Don
holds a Certified Employee Benefits Specialist (CEBS) designation from the Wharton School of Business
has a strong global view of employee benefit plans and how pharmacy benefits should be integrated into those plans.Don's extensive background affords him expertise that extends from the technology, capabilities and focus of Pharmacy Benefit Management today to the challenges of managing the overall health care benefit towards cost effective, quality care.In addition, Don earned a degree in Business with concentrations in Finance and Marketing from Oregon State University.He
resides in the Portland, Oregon area with his
wife and three children.
For PBMs, "the potential is huge," ...
For PBMs, "the potential is huge," says Donald Lea II, president and CEO of Aspect Enterprises Limited Inc, a pharmacy benefits consulting firm.Many of the new maintenance medications on the market are blockbuster drugs that drive drug company sales and, in turn, the rebates they provide to PBMs.Consultants agree that while mail order can be a worthwhile component of a larger program for managing pharmacy expenses, it may have more value in terms of convenience than cost-containment.
New Medicines Found to be Modified Versions of Existing DrugsJune 4, 2002A new study reveals that two-thirds of the drugs approved from 1989 to 2000 were modified versions of existing drugs or even identical to those already on the market, according to an article in The New York Times
(May 29, 2002).
2001 Annual ISCEBS Employee Benefits Symposium Sessions & Speakers
Speaker: Donald M. Lea, CEBS, President, AEL Rx, Lake Oswego, OregonThis presentation will cover pharmacy benefit costs today, why costs are trending so rapidly, and what can be done about it.Other items of discussion include the current role and impact of the drug manufacturers in pharmacy benefit management and innovative trends in direct relationships between employers and drug manufacturers.
When Your Employee's Private Life Becomes Your Business: HIPAA and Other Hot Issues
...Donald M. Lea, CEBSPresident, AEL Rx, Lake Oswego, Oregon
Texas Department of Insurance Licensing Division
Monitor will be Donald M. Lea II, President of Aspect Enterprises Limited, Inc.Donald has represented several major managed care organizations over the past 1S years.Mr. Lea is a Certified Employee Benefit specialist and has a strong global view of benefit plans and hew the pharmacy benefit should be integrated into those plans.Mr. Lea is the founder and President of Aspect Enterprim Limited, Inc. (AEL).AEL has now become the single largest consulting organization in the Nation that is focused exclusively on the pharmacy benefit AEL currently has offices in Portland, Seattle, Minneapolis, Cleveland, Dallas and Orlando.AEL now represents over two million lives throughout the United States.This represents $350 million in annual drug expenditure and $3.5 billion in total health care expenditure.This gives Mr. Lea and AEL a tremendous amount of experience and insight into current and future trends in the pharmacy industry.
WHAT THE STUDENT WILL LEARN:
The student will learn what a managed care benefit is, what it entails and how can it help their clients reduce overall spending on drugs covered under the medical plan.
Whether a plan is insured or serf-funded, the pharmacy cards and mil service are performed by a pharmacy claims processor which is either a PBM or a claims processor hired by the insurance company.Either way, the broker needs to know the internal workings and how the layers affect the cost, which is passed on to the clients.
Mail order booming, but no panacea for drug costs
For PBMs, "the potential is huge," said Donald Lea II, president and CEO of Aspect Enterprises Limited Inc., a pharmacy benefits consulting firm based in Lake Oswego, Oregon.Up to 50% of prescriptions could theoretically be obtained by mail, but less than 10% of employees who have a mail order option take advantage of it.
Many of the new medications on the market are blockbuster drugs, which drive drug company sales and, in turn, the rebates they provide to PBMs.
Pfizer Inc.'s cholesterol-lowering drug Lipitor (atorvastatin), not surprisingly, heads the list of the top 50 prescriptions filled or refilled by mail order in 2001.It's the world's best-selling medication, with $4.5 billion in retail sales last year.
Even after factoring in the deeper discount on mail order and the lower dispensing fee, the sponsor ends up paying more for the drug than if the member filled the prescription at a local pharmacy, Lea
"Our job is to figure out all these little tricks of the trade," he
said."The trick is to look at both the cost and the plan design."