Evolving Roles of Specialty Pharmacies | Is the Model Sustainable?

Welcome to the Specialty Pharmacy Collaboration Summit Podcast Series. Speaking with us today is Nick Calla, VP of Industry Relations, Community Specialty Pharmacy Network (CSPN)

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What are the evolving roles of community-based specialty pharmacies?

Nick: Well, we look at the community-based specialty pharmacies. Really our goal within our network is really to have these pharmacies really stand side-by-side with the larger central fill specialty pharmacy. There really is no intention to quote/unquote “overtake” the larger central fill pharmacy, but really more to truly have a voice and a space and to treat those difficult-to-treat patients that need that personal touch, that face-to-face counseling in order to be successful on therapy.

So, as I mentioned in my previous comments, what we are really looking to do is to expand the role of these pharmacies and really to use them as an adjunct to the patient that is not going to be successful in a less touch model and needs the higher touch that these pharmacies can provide in order to be successful as a therapy.

Again, as I mentioned before, as this specialty pharmacy environment expands and more and more products flood the market, I think that there is going to be plenty of room for all of these different stakeholder pharmacies to be successful.

Is the specialty pharmacy model sustainable?
 
Nick: Yes, I absolutely think the specialty pharmacy model is sustainable. As I mentioned before, I think you need to expand. I think more pharmacies need to quote/unquote “get accredited” to become part of professional organizations such as NASP in order to be truly successful in this space. But, in this world of accountable-tier organizations and again the really huge pipeline in what are considered specialty products, which are really more niche in nature and more along the longs of personalized medicine. A higher-touch model, if you will. 

I definitely think that the model is sustainable. I think it will grow and expand over time.
 


To hear more from Nick, please join him at IIR's Specialty Pharmacy Collaboration Summit, September 15-17 in Boston. Also, you can save an EXTRA $100 off the current rate, $300 in total savings when registering by 8/22 with the code: XP1968BLOG - Register now.

Specialty Pharmacy Collaboration Summit Limited-Time Special Offer for Health Plans Only!

For a limited-time only, we’re offering health plans a special VIP $595 offer* expiring on Friday, August 22, 2014, to attend IIR’s all-new Specialty Pharmacy Collaboration Summit. To register, email Roxana Siu, Marketing Manager at rsiu@iirusa.com. Be sure to mention code: XP1968HPSOCIAL

Due to increasing healthcare costs brought on by health care reforms and the ACA, specialty pharmacies are critical in determining the sustainability of the specialty pharmacy business model. Payers, providers, pharma manufacturers, and even patients need to partner with specialty pharmacies to help fill the oversight gaps in compliance, manage costs and reimbursements, and to gain access to closed distribution channels. Specialty Pharmacies offer their product management and patient adherence services to address these challenges with minimal cost implications.

Don't miss out on the only event offering you the opportunity to benchmark against other health plans and partner directly with specialty pharmacies and pharma manufacturers.

Download the updated brochure for the full agenda and speaker details.

Plus! With the partnering360 networking tool, easily connect with all key stakeholders in the specialty pharmacy value chain and achieve not only your personal objectives, but also your company's collaborative aims. Available exclusively to registered attendees, you will be able to pre-plan for the event, identify and schedule meetings with potential partners, and foster deeper peer-to-peer engagement via discussions.

Health Plans - don’t miss out on this limited-time $595 offer* to attend the entire conference! This offer expires Friday, August 22, 2014. Be sure to use code: XP1968HPSOCIAL. To register, email Roxana Siu, Marketing Manager at rsiu@iirusa.com.


*$595 Offer Eligibility Rules and Regulations: Offer applies only to Health Plan executives. $595 offer is for the whole conference and expires on August 22, 2014. Tiered pricing is valid through expiration date. New pricing takes effect at specific dates indicated. All fees must be paid in full by expiration date or your price will increase to the next level tier. Offer cannot be applied retroactively to confirmed paid registrants. Offer cannot be combined with any other discounts or promotions. All registrants and guests are subject to IIR approval. 

What is the Future of Specialty Pharmacy?

Welcome to the Specialty Pharmacy Collaboration Summit Podcast Series. Today we are speaking with Nick Calla, VP of Industry Relations, Community Specialty Pharmacy Network (CSPN)

Download the complete podcast & transcript here.

What is the future of specialty pharmacy and the impact on the key stakeholders?

Nick: When you look at specialty pharmacy, in my mind it is still an evolving area of pharmacy. Specialty pharmacy really came into being, I would say, at least 20 years ago where it was the very beginning of specialty pharmacy with products like betaseron in the Multiple Sclerosis space, as well as products like Crixivan in the HIV space back in the mid-80s.

The model has evolved and has evolved dramatically over the last 10 years or so. At this point in time, it is really quite dominated by the Big 4, Big 5 large PBMO and health plan owned specialty pharmacies. Therefore, when you look at a model like the one that I represent or CSPN – quite honestly the smaller pharmacies are being shut out of a number of opportunities.

Now, there are a number of good reasons for that. Many retail-based or community-based pharmacies simply have not developed the infrastructure to support a specialty product which, as I mentioned earlier, is a high-touch model. Many of these pharmacies have not developed the benefit investigation needed, the reimbursement support infrastructure needed and really the clinical support needed to truly manage dictation. However in our model, for example, there are a number of community players – smaller, independent pharmacies – that have developed all of these resources. They have also developed accreditation through some of the accrediting groups like URAC and ACHC. As well, they’ve become members of organizations like NASP – National Association of Specialty Pharmacies. So, they have truly developed the model over time.

As I said, the industry is still dominated by the Big 5 and Big 6 and again, I think what’s going to happen over time as this model starts to develop is that you are going to need more pharmacies with the capabilities to handle the special dictation. There are many, many products. Development on the oncology side, for example, on the Multiple Sclerosis side and the Rheumatoid Arthritis side that I think will require a larger group of pharmacies that truly have the capability to manage that patient.

So, that’s where I see it. I see the future of specialty pharmacy really expanding and creating opportunities for stakeholders beyond the few that have truly taken advantage of this space up to this point.

Click here to download the rest of the transcript and podcast.

To hear more from Nick, please join him at IIR's Specialty Pharmacy Collaboration Summit, September 15-17 in Boston. Also, you can save an EXTRA $100 off the current rate, $500 in total savings when registering by 7/25 with the code: XP1968BLOG - Register now.

See you in Boston!