Is pharmacy a challenging area for your organization and population? Why is specialty pharmacy such a hot topic and what can you do about it?
There is no easy solution, but there are various strategies purchasers can consider to tackle one of health care’s highest-cost areas. Check out CPR’s work in this area.
Cutting Costs: CHG Healthcare Carves Out Specialty Pharmacy
Back in 2016, benefits staff at CHG Healthcare found a charge for $174K in the monthly claims spend report. It wasn’t a mistake; it was the actual price for a specialty drug being used to treat a rare medical condition. Forecasting further exorbitant costs without evidence of effectiveness, CHG Healthcare partnered with VIVIO Health Inc in 2017 to implement a specialty drug carve-out plan that covers both pharmacy and medical benefit drugs. Between 2017 and 2020, the program netted this progressive purchaser $4.4M in savings with their plan participants paying $0 for their speciality medications.Buy
Specialty pharmaceuticals are extremely high-cost medications, which are the fastest growing sector of pharmacy spending today. Learn more about these high cost drugs and strategies that stakeholders can look to in an attempt to curb the high costs of specialty pharmaceuticals.
How-to-Guide: Specialty Pharmacy- What Purchasers Need to Know
Learn what tactics are available for purchasers when implementing or expanding a specialty pharmacy management strategy.Buy