Specialty pharmacy is a rapidly growing segment of drug spend, projected to comprise $240 billion in revenues by 2021. Hospitals and health systems are feeling the pressure to build or expand existing specialty pharmacy services in order to compete for patients with chronic complex diseases who require specialty medications.
Because hospitals and health systems are uniquely aligned to deliver the care that these patients need, every hospital should have a specialty pharmacy strategy. That strategy must recognize the impact each key stakeholder will have on the success of the specialty pharmacy, including patients, providers, clinical staff, payors and pharmaceutical manufacturers and how to develop and manage those relationships for success.