AJHP Explores Trends in Increased US Drug Spending

PRESS RELEASE

Bethesda, MD—A wave of innovation in specialty medications that caused U.S. prescription drug spending to spike significantly in 2014 is examined in three separate articles in the May 1 issue of the American Journal of Health-System Pharmacy (AJHP). The articles provide a deeper look into the factors driving drug expenditures and the increasing role of specialty pharmacies.

A special feature analyzes trends in pharmaceutical spending and presents projections for 2015, including nonfederal hospital and clinic settings. Using data from IMS Health, the authors analyze 2014 drug expenditures by sector and by drug and drug class, and explore factors that may impact future drug spending, such as new drug approvals and patent expirations. They conclude that spending will increase in 2015 but 7 to 9 percent across all settings, by 12 to 14 percent in clinics, and by 5 to 7 percent in hospitals.

The authors also note that spending growth will be driven more and more by specialty drugs—those that have high cost, are used to treat complex or rare diseases, have complicated manufacturing processes, are biological in origin, have special administration, monitoring, shipping and storage requirements, and/or need risk evaluation and mitigation strategies.

“Since most specialty drugs are still widely available to hospitals and clinics, important opportunities exist for creating outpatient specialty pharmacies in therapeutic categories that are relevant to the health system,” the article’s authors stress. “These new outpatient operations have the potential to improve medication access for patients, ensure better continuity of care and integration, improve patient outcomes, and provide a new revenue stream.”

The May 1 issue of AJHP contains an editorial on the dilemma posed by increasingly difficult access to specialty medications and what it means for pharmacists, authored by Rebekah Hanson, Pharm.D., BCPS, BCACP, clinical pharmacist and an assistant professor at the University of Illinois at Chicago College of Pharmacy.

“Pharmacists can create a truly collaborative, innovative, and comprehensive approach to specialty drug management that ensures patients have the ability to take advantage of life-changing therapies,” says Dr. Hanson. “They can prioritize specialty drug management programs within their institutions, inform government payers about the impact medication access has on providing value-based healthcare, and strategize with payers and manufacturers on ways to improve access.”

A Chief Pharmacy Officer Perspectives article in the May 1 issue also provides pharmacy decision-makers with an overview of the benefits of developing their own specialty pharmacy programs, issues to consider before undertaking one, and tips for successful implementation.

“By offering a specialty pharmacy program, a health system has the unique opportunity to connect with complex patient populations with life-long diseases at least monthly, developing a much stronger bond with those patients,” the article’s authors point out. “This provides a higher level of service and customer satisfaction, along with a higher level of care.”

Bethesda, MD—A wave of innovation in specialty medications that caused U.S. prescription drug spending to spike significantly in 2014 is examined in three separate articles in the May 1 issue of the American Journal of Health-System Pharmacy (AJHP). The articles provide a deeper look into the factors driving drug expenditures and the increasing role of specialty pharmacies.

A special feature analyzes trends in pharmaceutical spending and presents projections for 2015, including nonfederal hospital and clinic settings. Using data from IMS Health, the authors analyze 2014 drug expenditures by sector and by drug and drug class, and explore factors that may impact future drug spending, such as new drug approvals and patent expirations. They conclude that spending will increase in 2015 but 7 to 9 percent across all settings, by 12 to 14 percent in clinics, and by 5 to 7 percent in hospitals.

The authors also note that spending growth will be driven more and more by specialty drugs—those that have high cost, are used to treat complex or rare diseases, have complicated manufacturing processes, are biological in origin, have special administration, monitoring, shipping and storage requirements, and/or need risk evaluation and mitigation strategies.

“Since most specialty drugs are still widely available to hospitals and clinics, important opportunities exist for creating outpatient specialty pharmacies in therapeutic categories that are relevant to the health system,” the article’s authors stress. “These new outpatient operations have the potential to improve medication access for patients, ensure better continuity of care and integration, improve patient outcomes, and provide a new revenue stream.”

The May 1 issue of AJHP contains an editorial on the dilemma posed by increasingly difficult access to specialty medications and what it means for pharmacists, authored by Rebekah Hanson, Pharm.D., BCPS, BCACP, clinical pharmacist and an assistant professor at the University of Illinois at Chicago College of Pharmacy.

“Pharmacists can create a truly collaborative, innovative, and comprehensive approach to specialty drug management that ensures patients have the ability to take advantage of life-changing therapies,” says Dr. Hanson. “They can prioritize specialty drug management programs within their institutions, inform government payers about the impact medication access has on providing value-based healthcare, and strategize with payers and manufacturers on ways to improve access.”

A Chief Pharmacy Officer Perspectives article in the May 1 issue also provides pharmacy decision-makers with an overview of the benefits of developing their own specialty pharmacy programs, issues to consider before undertaking one, and tips for successful implementation.

“By offering a specialty pharmacy program, a health system has the unique opportunity to connect with complex patient populations with life-long diseases at least monthly, developing a much stronger bond with those patients,” the article’s authors point out. “This provides a higher level of service and customer satisfaction, along with a higher level of care.”

- See more at: http://www.ashp.org/menu/AboutUs/ForPress/PressReleases/PressRelease.aspx?id=855#sthash.0RoejKjW.dpuf

Bethesda, MD—A wave of innovation in specialty medications that caused U.S. prescription drug spending to spike significantly in 2014 is examined in three separate articles in the May 1 issue of the American Journal of Health-System Pharmacy (AJHP). The articles provide a deeper look into the factors driving drug expenditures and the increasing role of specialty pharmacies.

A special feature analyzes trends in pharmaceutical spending and presents projections for 2015, including nonfederal hospital and clinic settings. Using data from IMS Health, the authors analyze 2014 drug expenditures by sector and by drug and drug class, and explore factors that may impact future drug spending, such as new drug approvals and patent expirations. They conclude that spending will increase in 2015 but 7 to 9 percent across all settings, by 12 to 14 percent in clinics, and by 5 to 7 percent in hospitals.

The authors also note that spending growth will be driven more and more by specialty drugs—those that have high cost, are used to treat complex or rare diseases, have complicated manufacturing processes, are biological in origin, have special administration, monitoring, shipping and storage requirements, and/or need risk evaluation and mitigation strategies.

“Since most specialty drugs are still widely available to hospitals and clinics, important opportunities exist for creating outpatient specialty pharmacies in therapeutic categories that are relevant to the health system,” the article’s authors stress. “These new outpatient operations have the potential to improve medication access for patients, ensure better continuity of care and integration, improve patient outcomes, and provide a new revenue stream.”

The May 1 issue of AJHP contains an editorial on the dilemma posed by increasingly difficult access to specialty medications and what it means for pharmacists, authored by Rebekah Hanson, Pharm.D., BCPS, BCACP, clinical pharmacist and an assistant professor at the University of Illinois at Chicago College of Pharmacy.

“Pharmacists can create a truly collaborative, innovative, and comprehensive approach to specialty drug management that ensures patients have the ability to take advantage of life-changing therapies,” says Dr. Hanson. “They can prioritize specialty drug management programs within their institutions, inform government payers about the impact medication access has on providing value-based healthcare, and strategize with payers and manufacturers on ways to improve access.”

A Chief Pharmacy Officer Perspectives article in the May 1 issue also provides pharmacy decision-makers with an overview of the benefits of developing their own specialty pharmacy programs, issues to consider before undertaking one, and tips for successful implementation.

“By offering a specialty pharmacy program, a health system has the unique opportunity to connect with complex patient populations with life-long diseases at least monthly, developing a much stronger bond with those patients,” the article’s authors point out. “This provides a higher level of service and customer satisfaction, along with a higher level of care.”

- See more at: http://www.ashp.org/menu/AboutUs/ForPress/PressReleases/PressRelease.aspx?id=855#sthash.0RoejKjW.dpuf

Bethesda, MD—A wave of innovation in specialty medications that caused U.S. prescription drug spending to spike significantly in 2014 is examined in three separate articles in the May 1 issue of the American Journal of Health-System Pharmacy (AJHP). The articles provide a deeper look into the factors driving drug expenditures and the increasing role of specialty pharmacies.

A special feature analyzes trends in pharmaceutical spending and presents projections for 2015, including nonfederal hospital and clinic settings. Using data from IMS Health, the authors analyze 2014 drug expenditures by sector and by drug and drug class, and explore factors that may impact future drug spending, such as new drug approvals and patent expirations. They conclude that spending will increase in 2015 but 7 to 9 percent across all settings, by 12 to 14 percent in clinics, and by 5 to 7 percent in hospitals.

The authors also note that spending growth will be driven more and more by specialty drugs—those that have high cost, are used to treat complex or rare diseases, have complicated manufacturing processes, are biological in origin, have special administration, monitoring, shipping and storage requirements, and/or need risk evaluation and mitigation strategies.

“Since most specialty drugs are still widely available to hospitals and clinics, important opportunities exist for creating outpatient specialty pharmacies in therapeutic categories that are relevant to the health system,” the article’s authors stress. “These new outpatient operations have the potential to improve medication access for patients, ensure better continuity of care and integration, improve patient outcomes, and provide a new revenue stream.”

The May 1 issue of AJHP contains an editorial on the dilemma posed by increasingly difficult access to specialty medications and what it means for pharmacists, authored by Rebekah Hanson, Pharm.D., BCPS, BCACP, clinical pharmacist and an assistant professor at the University of Illinois at Chicago College of Pharmacy.

“Pharmacists can create a truly collaborative, innovative, and comprehensive approach to specialty drug management that ensures patients have the ability to take advantage of life-changing therapies,” says Dr. Hanson. “They can prioritize specialty drug management programs within their institutions, inform government payers about the impact medication access has on providing value-based healthcare, and strategize with payers and manufacturers on ways to improve access.”

A Chief Pharmacy Officer Perspectives article in the May 1 issue also provides pharmacy decision-makers with an overview of the benefits of developing their own specialty pharmacy programs, issues to consider before undertaking one, and tips for successful implementation.

“By offering a specialty pharmacy program, a health system has the unique opportunity to connect with complex patient populations with life-long diseases at least monthly, developing a much stronger bond with those patients,” the article’s authors point out. “This provides a higher level of service and customer satisfaction, along with a higher level of care.”

- See more at: http://www.ashp.org/menu/AboutUs/ForPress/PressReleases/PressRelease.aspx?id=855#sthash.0RoejKjW.dpuf