M. CHRISTOPHER ROEBUCK RxEconomics LLC • 11350 McCormick Road, EPII Suite 705 • Hunt Valley, MD 21031

(410) 215-8380 • www.RxEconomics.com • mcr@rxeconomics.com

SUMMARY M. Christopher Roebuck is a Health Economist with over 17 years of experience in pharmacoeconomics and health services/outcomes research. A detail-oriented critical thinker who successfully leverages extensive education, advanced quantitative skills, and a rich healthcare background to derive empirical answers to important business and societal questions. MCR is adept at operating at the nexus of academia, government, and private industry—routinely publishing in top-tier journals and speaking publicly. His areas of expertise include:

• Pharmacy benefit design and optimization • Comparative effectiveness research • Economic evaluation of health care programs • Health policy and legislation analysis • Predictive modeling of health services use and cost • Applied econometrics, statistics, and analytics • Medical/prescription claims data coding and analysis • Translation of scientific research into business practice

PROFESSIONAL EXPERIENCE

RXECONOMICS LLC, Hunt Valley, MD 2010-Present President and Chief Executive Officer

• Provide expert, applied health economics research consulting services to healthcare providers, payers, and policymakers. • Apply econometric methods in analyzing claims data to answer critical business questions, bolster value propositions; and gain insight into the

impact of pharmacy benefit design on prescription drug use, and the medical cost savings and productivity enhancements derived from medication adherence.

• Advise clients on issues of healthcare reform, value-based insurance design and purchasing. CVS CAREMARK, Hunt Valley, MD 2002-2011 Director, Strategic Research-Health Economist (2007-2011)

• Led analytics team in the design and production of health economics and outcomes research studies including the evaluation of pharmacy benefit management products and services, as well as the comparative effectiveness of pharmacotherapies.

• Advanced the science of pharmacy benefit design, Medicare Part D plan choice, and the value of medication adherence. • Rendered advanced statistics and econometrics methodological coaching and oversight companywide. • Conducted health policy analysis of legislation and advised executive leadership on expected economic impacts. • Disseminated findings via top-tier, peer-reviewed journal publication and presentation at industry conferences. • Coordinated collaborations with external academic, plan sponsor, and manufacturer partners.

Manager, Predictive Modeling and Forecasting (2005-2007)

• Built and optimized claims-based predictive models of health services use and cost, also used for risk adjustment. • Employed time-series, data mining, and Monte Carlo simulation methods for forecasting of key business metrics.

Consulting Research Analyst (2002-2005)

• Constructed budget impact models of new brand and generic drug launches for plan sponsor customers. • Designed, sold, executed, and delivered pharmacoeconomics and outcomes research studies to manufacturer clients. • Managed product that calculated the script-lift and return-on-investment of direct-to-consumer advertising campaigns.

UNIVERSITY OF MIAMI, SCHOOL OF MEDICINE, Miami, FL 1998-2002 Senior Research Associate

• Performed economic evaluations of public and private substance abuse and mental health treatment programs using the Drug Abuse Treatment Cost Analysis Program, Addiction Severity Index, and Treatment Services Review.

• Investigated relationships between substance abuse and health, criminal activity, employment, and education using advanced econometric techniques in the analysis of various public use datasets.

• Served as Project Director of four multi-year grants totaling approximately $1 million sponsored by the National Institute on Drug Abuse, Center for Substance Abuse Treatment, and Robert Wood Johnson Foundation.

EDUCATION

Doctor of Philosophy, Public Policy-Economics, UMBC, Baltimore, MD, 2012. Master of Business Administration, Finance, University of Miami, Coral Gables, FL, 1997. Bachelor of Arts, Economics, University of Pennsylvania, Philadelphia, PA, 1994.

TECHNICAL SKILLS Econometrics: endogeneity testing and control using panel data methods, instrumental variables, and propensity score matching. Software: STATA (expert), SAS, SPSS, @Risk.

SELECTED PUBLICATIONS Roebuck, M.C., J.S. Dougherty, R. Kaestner, and L.M. Miller. 2015. “Increased Use of Prescription Drugs Reduces Medical Costs in Medicaid

Populations.” Health Affairs 34(9): 1586-1593. Roebuck, M.C. 2014. “Medical Cost Offsets from Prescription Drug Utilization Among Medicare Beneficiaries.” Journal of Managed Care and

Specialty Pharmacy 20(10): 994-995.

M. Christopher Roebuck Page 2 of 2

Fronstin, P., M-J. Sepulveda, and M.C. Roebuck. 2013. “Medication Utilization and Adherence in a Health Savings Account-Eligible Plan.”

American Journal of Managed Care 19(12): e400-e407. Fronstin, P., M-J. Sepulveda, and M.C. Roebuck. 2013. “Consumer-Directed Health Plans Reduce the Long-Term Use of Outpatient Physician

Visits and Prescription Drugs.” Health Affairs 32(6): 1126-1134. Roebuck, M.C., R. Kaestner, and E. Miravete. 2013. “Medicaid Drug Rebates in Medicare Part D Low-Income Subsidy: An Economic Analysis of

the Proposed Policy and its Implications for Multiemployer Plans.” Pharmaceutical Industry Labor-Management Association (PILMA). Available at: http://www.pil-ma.org/study/pdfs/Rebates-Study-Full.pdf.

Carls, G.S., M.C. Roebuck, T.A. Brennan, J.A. Slezak, O.S. Matlin, and T.B. Gibson. 2012. “Impact of Medication Adherence on Absenteeism and

Short-Term Disability for Five Chronic Diseases.” Journal of Occupational and Environmental Medicine 54(7): 792-805. Frick, K.D., M.C. Roebuck, J.I. Feldstein, C.A. McCarty, and L.L. Grover. 2012. “Health Services Utilization and Cost of Retinitis Pigmentosa.”

Archives of Ophthalmology 130(5): 629-634. Ketcham, J., C. Lucarelli, E. Miravete, and M.C. Roebuck. 2012. “Sinking, Swimming, or Learning to Swim in Medicare Part D.” American

Economic Review 102(6): 2639-2673. Polinski, J.M., W.H. Shrank, R.J. Glynn, H.A. Huskamp, M.C. Roebuck, and S. Schneeweiss. 2012. “Beneficiaries with Cardiovascular Disease and

the Part D Coverage Gap.” Circulation: Cardiovascular Quality and Outcomes 5(3): 387-395. Polinski, J.M., W.H. Shrank, R.J. Glynn, H.A. Huskamp, M.C. Roebuck, and S. Schneeweiss. 2012. “Association between the Part D Coverage Gap

and Adverse Health Outcomes.” Journal of the American Geriatrics Society 60(8): 1408-1417. Roebuck, M.C., J.N. Liberman, M. Gemmill-Toyama, and T.A. Brennan. 2011. “Medication Adherence Leads to Lower Health Care Use and Costs

Despite Increased Drug Spending.” Health Affairs 30(1):91-99. Liberman, J.N. and M.C. Roebuck. 2010. “Prescription Drug Costs and the Generic Dispensing Ratio.” Journal of Managed Care Pharmacy 16(7):

502-506. Roebuck, M.C. and J.N. Liberman. 2009. “Impact of Pharmacy Benefit Design on Prescription Drug Utilization: A Fixed Effects Analysis of Plan

Sponsor Data.” Health Services Research 44(3): 988-1009. Powers, C.A., C.M. Meyer, M.C. Roebuck, and B. Vaziri. 2005. “Predictive Modeling of Total Healthcare Costs Using Pharmacy Claims Data: A

Comparison of Alternative Econometric Cost Modeling Techniques.” Medical Care 43(11): 1065-1072. Roebuck, M.C., M.T. French, and M.L. Dennis. 2004. “Adolescent Marijuana Use and School Attendance.” Economics of Education Review 23(2):

145-153. Roebuck, M.C., M.T. French, and A.T. McLellan. 2003. “DATStats: Results from 85 Studies Using the Drug Abuse Cost Analysis Program

(DATCAP).” Journal of Substance Abuse Treatment 25(1): 51-57.

SELECTED PRESENTATIONS Roebuck, M.C. “Medical Cost Offsets from Prescription Drug Use in Medicaid.” Presented at the 11th World Congress of the International Health

Economics Association, Bocconi University, Milan, Italy, July 15, 2015. Roebuck, M.C. “Medical Cost Offsets from Prescription Drug Utilization Among Medicare Beneficiaries.” Presented at the 5th Biennial Conference

of the American Society of Health Economists, University of Southern California, Los Angeles, CA, June 24, 2014. Roebuck, M.C. and T.B. Gibson. “Measurement and Modeling Issues with Adherence to Pharmacotherapy.” Presented at Academy of Managed

Care Pharmacy Educational Conference, St. Louis, MO, October 14, 2010. Roebuck, M.C., D. Esposito, M.W. Lewis, and J. Berger. “Dollars to Doughnuts: Predicting Prescription Drug Costs of Enrollees and the Medicare

Program under Part D.” Presented at Academy Health Annual Research Meeting, Seattle, WA, June 26, 2006. Received Best Abstract Award (out of 1,670 presentations).

PROFESSIONAL AFFILIATIONS

Member of: Academy Health, American Economic Association, American Society of Health Economists (Scientific Committee), International Health Economics Association (Scientific Committee), Int’l Society for Pharmacoeconomics & Outcomes Research.

Peer Reviewer for: American Journal of Managed Care, Health Affairs, Health Services Research, Journal of Drug Issues, Journal of General Internal Medicine, Journal of Managed Care Pharmacy (Editorial Advisory Board), Journal of Substance Abuse Treatment, PhRMA Foundation Grant Review Committee (Chairperson).