A trained pharmacist, Renick began his career in community and long-term care pharmacy before entering the pharma industry in Merck’s managed markets division. He landed in the right place: American Healthcare Leader recently touted his skill in “helping clients understand the ever-changing prescription drug market and devising strategies to demonstrate a new drug’s value.”
During his time leading Precision, Renick oversaw the introduction and formalization of three business units: Precision for Value, Precision Health Economics, and precisioneffect. A fourth unit, Precision Xtract, was recently launched to provide pharma innovators with unified health economics and outcomes research as well as global pricing and data management.
Renick has also helped develop the Innovation and Value Initiative, a Precision-backed organization that created the Open Source Value Project, a transparent system for estimating the value of medical technologies that center on the patient. Renick has also overseen the establishment of a Cost and Coverage Communicator platform that uses data mapping from prescription claims data sets to deliver information to prescribers.