Why are providers investing in their own specialty pharmacies? What traits make a provider more likely to make this investment?
This white paper explores the answers to those questions, as well as what the marketplace might look like in the future and how this trend will impact suppliers and service providers.
Download the white paper
Why are we talking about provider-owned specialty pharmacies now?
Specialty pharmaceuticals—pharmacy-dispensed, outpatient-administered medications that treat complex conditions, require special handling, and whose availability is generally restricted—make up a rapidly growing market.
In 2014, 33% of all drugs bought in the U.S. were specialty medications. While the market is still dominated by pharmacy benefit managers and drug store chains, providers are increasingly interested in taking a seat at the table. Learn more on p. 4.
How do specialty pharmacies allow providers more oversight?
Pharmacies that are not part of a hospital or health system have difficulty serving patients on specialty medications. Many of them fall through the cracks, often not getting the dosages they need when they need them.
When provider organizations open their own specialty pharmacies, they can better manage their patients’ medications and care regimen, thereby improving continuity of care, decreasing total cost of care, and increasing revenue streams. Read more on p. 5.
What makes opening an in-house specialty pharmacy difficult?
Hospitals that want to open their own specialty pharmacies face a number of hurdles, from getting C-suite buy-in to contracting with manufacturers and payers.
However, if they serve large, complex patient populations that use a significant amount of specialty medications, there are many paths that hospitals can take to successfully open specialty pharmacies. Get the details—and two case studies—on p.10.
What does this mean for vendors?
The entrance of hospitals and health systems into specialty pharmacy has four main implications for suppliers and service providers, including those who manufacture specialty pharmaceuticals and those that are involved in specialty pharmacy in other ways. Get all four on p. 15.
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