When analyzing the viability of a specialty pharmacy at your hospital, one of the first steps to undertake is asking the question: “What type of patients, in my market, need specialty pharmacy services?”
Hospital-Owned Specialty Pharmacies have one significant competitive advantage over the large, national, call-center-based models – Personal Service!
One question that we regularly receive from hospitals who are looking to enter the Specialty Pharmacy arena is: “I have heard from other hospitals that it is challenging to get paid. How do other hospitals manage payer challenges?”
Hospitals have been late entrants into the specialty pharmacy business, which is mostly dominated by the companies like Express Scripts, CVS Caremark (the market leader), and Walgreens. However, in the last year or two, there has been increased interest by hospitals, and now almost half of allfalse
Specialty Pharmacies are becoming of much greater interest to hospital systems. In 2016, about 1 in 11 hospitals had a specialty pharmacy. However, almost half of the country’s largest hospitals (600+ beds), especially those with an academic affiliation, have a specialty pharmacy business.
Pharmacies (like healthcare systems) all over the United States are dealing with three major trends that are threatening their traditional business model. Before your healthcare organization and its outpatient pharmacy can adapt to these emerging trends, you must come to fully understand them.false
Pharmacies face a new chore as they look to transition from their traditional business models to one that is now needing more personalized service!
Specialty pharmacies typically operate in one of three approaches to patient care; traditional, coordinated or integrated. Due to challenges with the traditional patient care process, specialty pharmacies have adjusted to more comprehensive approaches to care.
In recent years, specialty pharmacies began adopting a more comprehensive approach to patient care because of the challenges with the traditional care model. Specialty pharmacies have devoted most of their business to provide coordinated care. These pharmacies typically offer reimbursementfalse
Patient care processes needs to evolve to assure safety and effective use of specialty pharmaceuticals. There are three broad approaches to patient care that have emerged for specialty pharmacies; traditional care, coordinated care, and integrated care. These processes range from lessfalse