With a new partnership, Baptist Health said it seeks to unlock access to medications amid "challenging payor networks."
On July 18, the Louisville, Ky.-based system announced a new partnership with Clearway Health, a company that helps hospitals build and grow their specialty pharmacy programs.
The collaboration will improve access between payer networks and Baptist's pharmacy department — which includes 11 retail pharmacies and a $40 million central pharmacy center. In the partnership's first 30 days, Clearway unlocked access to a payer.
The two organizations are targeting medications with payer lockouts and other "opportunities often inaccessible to local or regional hospitals." These entryways can lead to more affordable medicines, Clearway said.
"Having an expert partner like Clearway Health to navigate challenging payor networks is a tremendous advantage for our program's growth," Nilesh Desai, RPh, chief pharmacy officer of Baptist, said in a news release. "In just one year, this work will generate nearly $100 million in incremental revenue that will allow Baptist Health to continue to provide essential healthcare services for the communities it serves."
The nine-hospital system is earmarking the extra revenue for additional healthcare services.