Experience
Founded in 2006, SharpRx Pharmaceutical Consultation Services is registered with the Office of the Indiana Secretary of State as an S-Corporation.
Michael Sharp, R.Ph, President
Michael Sharp, R.Ph. is currently President of SharpRx Pharmaceutical Consultation Services. In this capacity he has worked with several clients, including Myers and Stauffer, LC, the Centers for Medicare and Medicaid Services (CMS), multiple state Medicaid programs, several research and consulting bureaus, pharmaceutical manufacturers and the Indiana Attorney General’s Offices’ Medicaid Fraud Control Unit.
Mike has played a significant and ongoing role in the CMS National Average Drug Acquisition Cost (NADAC) project. He has been heavily involved in the design, development, implementation, maintenance, management and stakeholder communications since the inception of the NADAC initiative in 2011. In addition, he has provided consultation on the generic CPI penalty resulting in annual savings of greater than $400 million dollars.
Prior to his current position, Mike was the Director of Pharmacy for the State of Indiana Medicaid pharmacy program. In this capacity, he was responsible for all aspects of pharmacy benefit administration, including budgeting, staff supervision, legislative affairs, compliance with all state and federal laws and contractor performance related to drug rebates, clinical services, prior authorization, claims processing, reimbursement and implementation of new program initiatives. Mike represented Region V states on the CMS Pharmacy Technical Advisory Group.
Mike has significant experience in Medicaid pharmacy benefit management and has developed multiple innovative solutions for addressing program needs within the Medicaid pharmacy space. Areas of expertise include drug pricing, regulatory affairs, claims processing, pharmacy informatics, procedure coded drugs, drug rebates, expert testimony and both Medicaid and commercial pharmacy benefit management. Mike has pharmacy practice experience in the pharmaceutical industry (Eli Lilly and Company), drug file compendia (Medi-Span), long term care and retail pharmacy practice areas. He has been a guest lecturer for pharmacy classes at both Butler and Purdue University. Mike holds a B.S. in Pharmacy Practice from Butler University College of Pharmacy and Health Sciences. He has been licensed as a pharmacist in the State of Indiana since 1993.
Key Accomplishments-Indiana Medicaid (2004-2010)
-Fiscal performance-$193 million under budget for SFY2006 through SFY2010
-Implementation of the pharmacy consolidation/pharmacy carve-out effective 12/31/2009 resulting in an annual savings of $55 million dollars as compared to projected MCO capitation payments. Savings exclusive of drug rebates.
-Per Member Per Month (PMPM) expenditures consistently 9-19% below that of MCO pharmacy plans for comparable population.
-Oversight of the nation’s most comprehensive and efficient state maximum allowable cost program (including hemophilia blood factor rates) derived from monthly pharmacy acquisition cost surveys.
-Positioned Indiana Medicaid as a national leader in the evaluation of the AMP derived Federal Upper Limit (FUL) and the implementation of NDC collection for procedure coded drug claims
-Increased the generic dispensing rate from 54% to 80%
-Expanded the Preferred Drug List (PDL) from 52 to 82 therapeutic classes and led the development of poly-pharmacy and quality edits associated with the Mental Health Quality Advisory Committee
-Implementation of the Indiana Supplemental Rebate program
-Design, development and implementation of the Indiana concurrent pharmacy auditing program
-Achievement of all-time high rebate collection rate
-Development and implementation of a comprehensive pharmacy data warehouse utilizing Business Objects
-Implementation of the SmartPA automated pharmacy prior authorization solution
-Implementation of National Provider Identifier (NPI)
-Implementation of Medicare Part D pharmacy coordination of benefits for Medicaid recipients
-Expanded internal pharmacy staff from 1 pharmacist to 4 pharmacists and one pharmacy technician
-Met all state and federal statutory requirements
Michael Sharp, R.Ph, President
Michael Sharp, R.Ph. is currently President of SharpRx Pharmaceutical Consultation Services. In this capacity he has worked with several clients, including Myers and Stauffer, LC, the Centers for Medicare and Medicaid Services (CMS), multiple state Medicaid programs, several research and consulting bureaus, pharmaceutical manufacturers and the Indiana Attorney General’s Offices’ Medicaid Fraud Control Unit.
Mike has played a significant and ongoing role in the CMS National Average Drug Acquisition Cost (NADAC) project. He has been heavily involved in the design, development, implementation, maintenance, management and stakeholder communications since the inception of the NADAC initiative in 2011. In addition, he has provided consultation on the generic CPI penalty resulting in annual savings of greater than $400 million dollars.
Prior to his current position, Mike was the Director of Pharmacy for the State of Indiana Medicaid pharmacy program. In this capacity, he was responsible for all aspects of pharmacy benefit administration, including budgeting, staff supervision, legislative affairs, compliance with all state and federal laws and contractor performance related to drug rebates, clinical services, prior authorization, claims processing, reimbursement and implementation of new program initiatives. Mike represented Region V states on the CMS Pharmacy Technical Advisory Group.
Mike has significant experience in Medicaid pharmacy benefit management and has developed multiple innovative solutions for addressing program needs within the Medicaid pharmacy space. Areas of expertise include drug pricing, regulatory affairs, claims processing, pharmacy informatics, procedure coded drugs, drug rebates, expert testimony and both Medicaid and commercial pharmacy benefit management. Mike has pharmacy practice experience in the pharmaceutical industry (Eli Lilly and Company), drug file compendia (Medi-Span), long term care and retail pharmacy practice areas. He has been a guest lecturer for pharmacy classes at both Butler and Purdue University. Mike holds a B.S. in Pharmacy Practice from Butler University College of Pharmacy and Health Sciences. He has been licensed as a pharmacist in the State of Indiana since 1993.
Key Accomplishments-Indiana Medicaid (2004-2010)
-Fiscal performance-$193 million under budget for SFY2006 through SFY2010
-Implementation of the pharmacy consolidation/pharmacy carve-out effective 12/31/2009 resulting in an annual savings of $55 million dollars as compared to projected MCO capitation payments. Savings exclusive of drug rebates.
-Per Member Per Month (PMPM) expenditures consistently 9-19% below that of MCO pharmacy plans for comparable population.
-Oversight of the nation’s most comprehensive and efficient state maximum allowable cost program (including hemophilia blood factor rates) derived from monthly pharmacy acquisition cost surveys.
-Positioned Indiana Medicaid as a national leader in the evaluation of the AMP derived Federal Upper Limit (FUL) and the implementation of NDC collection for procedure coded drug claims
-Increased the generic dispensing rate from 54% to 80%
-Expanded the Preferred Drug List (PDL) from 52 to 82 therapeutic classes and led the development of poly-pharmacy and quality edits associated with the Mental Health Quality Advisory Committee
-Implementation of the Indiana Supplemental Rebate program
-Design, development and implementation of the Indiana concurrent pharmacy auditing program
-Achievement of all-time high rebate collection rate
-Development and implementation of a comprehensive pharmacy data warehouse utilizing Business Objects
-Implementation of the SmartPA automated pharmacy prior authorization solution
-Implementation of National Provider Identifier (NPI)
-Implementation of Medicare Part D pharmacy coordination of benefits for Medicaid recipients
-Expanded internal pharmacy staff from 1 pharmacist to 4 pharmacists and one pharmacy technician
-Met all state and federal statutory requirements