On June 9, [Mingli Lecture 2023, Issue 48] was honored to invite Assistant Professor Justin Jia of Haslam School of Business, University of Tennessee to present an invitation for an academic report entitled "Drug shortage in the medical supply chain and its relationship with reimbursement policies".
Teacher Justin Jia first described the case of Health insurance in the United States reform in 2005: the American federal medical insurance changed its drug reimbursement policy from the average wholesale price (AWP) system to the average sales price (ASP) system. However, in the years after the reform of medical reimbursement, there was a serious drug shortage in the United States. In response to this situation, Professor Justin Jia conducted a drug supply chain analysis before and after the reimbursement policy reform, focusing on exploring whether the ASP policy is the main factor affecting drug shortages in the United States. Based on this, Professor Justin Jia modeled the pharmaceutical supply chain under two pharmaceutical reimbursement policies and found that due to the unique structure of the ASP policy, it actually has resistance to drug shortages. At the same time, this study also proves from the perspective of the supply chain that ASP policy is not the main cause of drug shortages, and has strong practical significance.
Teacher Justin Jia's clear logic and simple explanations have broadened everyone's horizons and brought new research insights. The attending teachers and students had in-depth discussions and exchanges with Teacher Justin Jia on this research topic, and the report meeting was successfully concluded in a warm atmosphere.
