Natalie McMurty: Pharmac CEO on entering her new role

Natalie McMurtry says Pharmac's model drew her to the agency's top job.  

She is just three weeks into her five-year-contract as chief executive at the drug-buying agency. 

The Canadian is tasked with continuing efforts to improve the agency's standing with the New Zealand public after years of degradation. 

McMurty told Mike Hosking she’s happy to keep moving forward on the reset plan that’s been put in place. 

She says she saw an opportunity to make an impact, and a board that has a great plan in place – one she could get behind. 

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Episode Transcript

Speaker 1 (00:00):
FARMAC, our drug funding agency which is and has been
undergoing some sort of reasonably large reform. Just yesterday talking
to the chair of course about new procurement rules. The
chair is new, there is some more funding is announced
by the government of the previous budget and the CEO
is new as well. Natalie McMurtry, Farmac's CEO is with us.
Natalie morning, good morning, welcome to the country. Enjoying it

(00:21):
so far.

Speaker 2 (00:22):
I love it. Thanks, thanks so much. Everyone's been so lovely.

Speaker 1 (00:26):
How did it work for you? Without getting too personal
about it all, I mean, what did you know of
New Zealand and FARMAC and what brought you here?

Speaker 2 (00:34):
Well, Farmac. I've been working in the pharmacy and drug
sector for my whole career over twenty five years. Farmac's
always been a model that we look to and known about,
so it's always been in the circle of my professional life.
I guess for me, I had the opportunity come forward

(00:55):
for me to consider and it was a good fit.
Lifestyle and lovely country and an amazing model to work in.

Speaker 1 (01:04):
The model as you saw what we would will see,
it has challenged in recent years. Did you see it
as challenged? And in need of some reform or was
that reform in place to the extent that you were
happy with and could dub til in and get on
with it.

Speaker 2 (01:18):
I think that you know, there was an opportunity to
be able to make an impact, which I'm really thrilled
with with the right leadership, the board that has a
great plan in place and something that I could get
behind and happy to keep moving forward. The momentum on
the on the reset plan that's been in.

Speaker 1 (01:34):
Place, Where do you see it at currently versus where
it could be would be in a couple of years time?

Speaker 2 (01:42):
Well, I think, you know, it's hard to really comment
on the past, but moving forward, I think we have
the right things in place. We've started to engage patients
and families more. We have a Consumer Advisory Group working
group shared by Malcolm Holland that's working really closely hand
in glove with our RESET team and I think that
will be able to set a framework that will be

(02:03):
able to move forward in a positive way.

Speaker 1 (02:05):
Is it same in places like Canada? In other words,
the government gives you money, There's never enough money. The
world is full of drugs and inventions and science and excitement,
and there's always a demand que of people saying how
about this?

Speaker 2 (02:18):
Well, yeah, I think that's a challenge of anyone who's
been in executive leadership and healthcare in any public system,
And there's always the trade offs that you have to manage,
and we try to do the best job that we
can with the money available.

Speaker 1 (02:30):
Where are you at in my current fascinations that I
means everyone GLP wons. So your Minister David Seymour has
an argument that if you spend dollars now, you can
save dollars in the future somewhere else. So, in other words,
GLP ones would be a very good example. If you
can cure obesity, think about what you could save in
the health system going down the track. Do you subscribe

(02:50):
and buy into that? And is it real?

Speaker 2 (02:53):
Well, I think there's definitely opportunities where drugs and new
technologies can improve lives and livelihoods into the future. And
telling that story and getting the right data to make
that case around is it capacity, is it better livelihoods,
people have better productivity? Some of that math is a
bit tricky, but we're working on the best way to

(03:15):
tell that story, okay, And I certainly think there's a
real story there.

Speaker 1 (03:19):
The procurement thing that we had the cheer on about yesterday.
You do some of it in Health New Zealand does
does all of that, Mike Saints, and we better off
for that.

Speaker 2 (03:28):
Oh. I think that this has been a great moving
forward step for the organization after many years of confusion
and making the best of both Health New Zealand and
FARMAC working together to be able to get those the
right innovations available to New Zealand. So I'm really happy
about that.

Speaker 1 (03:45):
Good to talk to you, and welcome to the country
and enjoy the job. And I'm sure we'll talk again.
Netleie McMurtrie, who's the new CEO of Farming. For more
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