Pharmaceutical spending has risen at a rate higher than any other component of health care spending. Those liable for pharmaceutical costs—including private health plans, employers, and the federal government—are taking drastic steps to try to curb the rate of spending growth. Meanwhile, those with a pharmacy revenue stake are attempting to expand their share of a lucrative and growing market.
For providers, a comprehensive pharmacy strategy must include both competencies: more effective control over expenses and an inroads to pharmacy revenue. Few achieve best-in-class performance in either pursuit today; but if they could, a move from typical to best-in-class performance could translate to a meaningful improvement in the organization’s overall operating margin.
This research report covers the four steps needed to realize pharmacy’s full value: counteracting inflationary price pressure, hardwiring high-value prescribing, leveraging pharmacy assets to reduce total cost of care, and creating a principled pharmacy business strategy.