In a soaring industry that favors consolidation and exclusive partnerships, one of a specialty pharmacy’s biggest challenges is staying on top of steep competition. This is especially true when competing against powerhouse brands that are steadily gaining market share.
According to Drug Channels, the top three specialty pharmacy providers of 2016 made up an incredible 57 percent of the total market share. This means that other specialty pharmacies, even mid-size and large ones, are more pressured than ever to show their worth and claim their stake.
There are a number of ways that companies can succeed in the industry. Let’s examine three key pillars of competition strategy, and how TherigySTM can help with each:
- Championing a patient-centric culture
- Consistently proving value and outcomes
- Maintaining transparency to stakeholder
It’s simple: in order to transparently prove positive value and outcomes to stakeholders, patients need to be consistently nurtured toward optimal health. To accomplish this, specialty pharmacies can’t compromise their dedication and attention to the clinical care process.
TherigySTM aims to systematize and streamline the care process, from prior authorization to patient outcomes reporting, so that your clinical team has more time to focus on the wellbeing of each patient.
To do so, the platform offers features including:
- Pre-configured, best-in-class disease and drug specific clinical content, protocols, and algorithms
- Support to tailor your level of therapy management to your goals, with real time access to patient support resources specific to therapy categories
- Complete, comprehensive care plans based on pharmacy clinical policy and best practice guidelines
- Full maintenance by Therigy’s IT and clinical staff, including continuously-updated content, streamlined content modification, and new program development
Proven Value and Outcomes
The key to proving value and demonstrating positive outcomes is all in your data. In many cases, a specialty pharmacy will have the ability to collect and access myriad data – but falls short when it comes to organizing and interpreting it. Silos and fragmentation can create obstacles for turning data points into meaningful conclusions.
TherigySTM works to simplify the data collection process and consolidate a specialty pharmacy’s information into a single platform, with features like:
- Checkboxes, radio buttons, and dropdown lists for standardized data capture
- Ability to tailor assessments, content, and protocols to satisfy unique data capture requirements
- Integration capabilities to interface with the industry’s top dispensing systems for ease of use and efficiency
- Ability to import data from dispensing systems for reporting purposes
- The ability to extract normalized data to use in data warehouses
Transparency to Stakeholders
This final pillar ties the three-part strategy together: Without straight-forward and consistent reporting, stakeholders can’t truly know the value your organization provides. Many pharmacies fall short in comparisons with competitors because of an inability to present their progress and outcomes in a clear, transparent, and meaningful way – all while catering to each stakeholder’s expectations.
- TherigySTM was designed to give pharmacies the ability to customize their reporting to suit the needs of different parties, with features such as:
- Parameter driven preconfigured report templates focusing on pharmacy operations, referral status and accreditation requirements
- Large report template library, developed in conjunction with our customers
- The ability to “slice and dice” data to accommodate the requirements of different manufacturers, payers, and patient assistance programs (PAPs)
- Build your own or ad hoc reporting capabilities for pharmacies with unique needs that expand beyond the breadth of reports available.
Learn More about TherigySTM
Simply put: TherigySTM can help to improve patient outcomes, increase operational efficiency, and equip specialty pharmacies with the right tools to consistently demonstrate their value to stakeholders.
Contact us to learn more about how our platform can help your organization stay competitive against industry giants.
Image Sources: Therigy