For specialty pharmacies, data is critical to every aspect of operations. But as a catch-22, the high volume of data can become overwhelming if it’s not harnessed and organized. With the right tools and systems, specialty pharmacies can reduce errors, improve patient care and third-party relationships, aid data governance, and ultimately become more efficient.
Specialty pharmacy patients are some of the most vulnerable. For these individuals, it’s critical that their complex treatment plans and care provider relationships are managed seamlessly, with no room for human error or the ability for critical information to slip through the cracks.
To do this, a holistic strategy is needed: the ability to systematically address patient management capabilities like health information and ongoing monitoring, while simultaneously managing the complex relationships between third parties like physicians and payers.
Specialized technology platforms offer an “all-in-one” solution to collecting and organizing data for meaningful and targeted patient care solutions.
A strategic focus on data and reporting can help with internal as well as external efficiencies. Internally, this data can be used to optimize sales and customer relations efforts, allowing the ability to drilldown on the most pertinent data. Externally, high efficiency rates bode well during the process where pharmacy benefit managers (PBMs), pharma companies, and payers use this information to determine participation in limited networks.
When this information is automated and streamlined, the analytics and reporting process becomes more efficient. This, in turn, equips specialty pharmacies with the resources they need to maximize efficiency internally as well as in the industry as a whole.
Accreditation used to be viewed as something of a “bonus” for a specialty pharmacy’s credibility. However, in the pharma landscape that’s rapidly evolving, specialty pharmacies are finding it increasingly tougher to earn limited drug distribution (LDD) contracts and partner with payers if they haven’t received at least one accreditation. Industry experts now say that accreditation is all but mandatory in order to succeed.
However, the accreditation process can be taxing. Specialty pharmacies must show systems and processes that maintain quality of care, customer service, customer satisfaction, treatment accuracy, and a number of other key metrics. And, often, they must be able to demonstrate these measures at a moment’s notice for accreditation surveys.
In addition to making these business and customer relationships better, a holistic data and reporting system helps specialty pharmacies get one step closer to the accreditation they need to thrive.
TherigySTM offers best-in-class integrations and clinical workflows, with customized data and reporting options to cater to each organization’s needs.
Take a look at some of TherigySTM’s data and reporting features:
To learn more about how TherigySTM can improve your specialty pharmacy operations, read more here, and contact us for your free demo.