New Orleans-based McKesson Pharmacy Optimization Team identified the top five trends to impact hospital and health system pharmacies in 2016.
"The growing movement toward value-based reimbursement continues to have tremendous impact on health systems as they increasingly look to pharmacy as a source of revenue growth," said standing vice president and general manager of McKesson Pharmacy Optimization Mark Eastham. "This need for health system pharmacies to identify new initiatives that can increase revenue without compromising patient outcomes or safety is indicative of key trends and opportunities facing health system pharmacies in the coming year."
Below are five key trends identified by McKesson:
1. Continued growth in specialty markets: Specialty pharmaceuticals spending continues to outpace overall pharmaceutical market growth and is the top spend category for health systems pharmacies.
2. Health system pharmacies seen as a revenue and margin generator: Health system leaders are increasingly looking at the pharmacy as a means to grow revenue by focusing on incremental revenue opportunities such as ambulatory, specialty and mail-order pharmacy services.
3. Industry consolidation increasing need for supply chain efficiency: As nearly half of a hospital's total operating expenses go toward supplies, drugs and consumables, large health systems are looking for better integration and efficiency across the supply chain.
4. Increasing oversight of the 340B program: The Health Resources and Services Administration has proposed clarifications on existing 340B program elements such as patient definition, covered outpatient drugs, contract pharmacy and limited distribution arrangements.
5. Leveraging pharmacy analytics to make strategic business decisions: Integrating comprehensive pharmacy analytics to track and monitor drug spending and use, patient care, and quality can help healthcare systems make better financial, clinical and operational decisions.