Implementing a Health-System Specialty Pharmacy
Specialty Pharmacy Times, Willis Chandler |
Modern medicine continues to push the boundaries of patient care, and specialty pharmaceuticals continue to be at the forefront of this innovation. The increased prevalence and utilization of specialty therapies has had a profound impact on the pharmacy industry overall. Inclusive of brand, generic, and specialty products, revenues for the industry are expected to exceed $483 billion in 2020. Experts predict specialty drugs will account for 44% of that revenue, a 5-fold increase from 2010 to 2020, according to the 2016-17 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors, by the Drug Channels Institute. To capitalize on this trend, more health systems are offering specialty pharmacy services. In 2016, roughly 1 in every 11 hospitals had their own specialty pharmacy and nearly 50% of larger health systems (600 beds or more) owned a specialty pharmacy, according to the Drug Channels report.
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