More Competition? Specialty Pharmacy Growth

The specialty pharmacy industry is booming and as many pharmacies opt for moving down the specialty pharmacy accreditation path, many hospitals and healthcare systems are starting to realize opening their own specialty pharmacies (or partnership with one) could be a good idea. The jump to specialty pharmacy for a health system or hospital, isn’t only a revenue driver as it gives them access but could also help with re-admissions, quality of care, and data collection. And as specialty pharmacies crop up all over the country, with an estimated 250 to be accredited by the end of 2015, it is the perfect opportunity for health systems to take fate into their own hands. From driving revenue, to increasing quality of care here are three main areas a hospital or health system can benefit in an in-house specialty pharmacy.

The Benefits of Specialty Pharmacy: For Hospitals & Health Systems

The specialty pharmacy industry is booming and as many pharmacies opt for moving down the specialty pharmacy accreditation path, many hospitals and healthcare systems are starting to realize opening their own specialty pharmacies (or partnership with one) could be a good idea. The jump to specialty pharmacy for a health system or hospital, isn’t only a revenue driver as it gives them access but could also help with re-admissions, quality of care, and data collection. And as specialty pharmacies crop up all over the country, with an estimated 250 to be accredited by the end of 2015, it is the perfect opportunity for health systems to take fate into their own hands. From driving revenue, to increasing quality of care here are three main areas a hospital or health system can benefit in an in-house specialty pharmacy.

Pharmacy May Be The Answer To Reducing Healthcare Costs

Back in March, we talked about how the role of the pharmacist in the healthcare ecosystem has been expanding over the past decade. In addition to simple medication fulfillment, pharmacist now complete crucial patient aftercare, education, and vaccination administration. Many believe as the role of the pharmacist expands, they could become the key to reducing all kinds of healthcare costs. Here are three ways pharmacy is helping save costs for healthcare.

5 Ways The Expanding Role of the Pharmacist Is Changing Healthcare

The role of the pharmacist in the healthcare industry has been expanding over the past decade, from simple medication fulfillment to crucial patient aftercare, education, and administering vaccinations. 2015 has already seen big changes within the healthcare industry and we predict that the role of the pharmacist will only expand more.

Hospital Acquired Infections are Down–But Is It Enough?

It’s unclear whether President Obama’s request for funding to combat HAIs will be met by Congress, but regardless of whether or not the funding comes from the federal government, hospitals will need to find the money somewhere to continue investing in HAI prevention, especially as it becomes more inextricably linked with reimbursement as we march forward this year.

2015 Means an Increase in Medicare Penalties for Readmissions

For the third year in a row, Medicare will be increasing the percent penalty for hospitals who have high readmission rates: up now to 3% in 2015. Despite efforts through the ACA and readmission reductions programs, the rate of readmissions continues to rise. Initially, Medicare attempted to stifle this by forcing hospitals to be transparent about their numbers. By making the number of readmissions public, the hope was that there would be a certain accountability and hospitals would then attempt to discern why their rates were so high. When this didn’t prove to drop the rates as much as Medicare would have hoped, they tacked on a financial penalty that hospitals would need to pay if their rates continued to rise.

2017-04-02T13:28:22+00:00 By |Readmissions, Uncategorized|

IROs and Objectivity

Healthcare costs have long been the subject of heated debates. But thanks to Independent Review Organizations (IROs) both providers and members are finding common ground. Objectivity is the name of the game when it comes to reviewing medical necessity claims, and IROs help keep resources properly allocated within health systems by acting as an outside opinion on complex claims.

Hospital Readmissions Are Costing Us $26 Billion Annually

Healthcare has become something of a hard science, if the focus on data and numbers is any indication. It would seem that the research, the endless reporting and spreadsheets of healthcare administration, has served to at least shed light on the problems healthcare is currently facing as an industry - but the fix isn’t likely to be in black and white.

Why is Behavioral Health Integration so Rare?

When we think of costly health conditions, the first that comes to mind for many is cancer. Treatment costs alone can bottom out even the best insurance plans. But did you know that behavior health conditions cost just as much per year as cancer? At a whopping $57 million per year, behavioral health conditions are one of the most costly health conditions in the United States today. While behavioral health conditions are rampant, they often don’t get as much attention as their more physical counterparts. Research tells us that mental health woes like anxiety and depression can greatly worsen, or at the very least contribute to, chronic pain conditions and even affect the length of our lives - but these conditions are often not diagnosed and treated effectively, or, in conjunction with the other comorbidities of a particular patient with complex health needs.

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