Strategies for Measuring Outcomes in Specialty Pharmacies
When it comes to specialty pharmacies, the concept of measuring outcomes is quite complex, writes Joe Thomas in a recent article for Specialty Pharmacy Times. Because of the nature of their work, specialty pharmacists establish strong lines of contact with their patients, communicating frequently about their health journeys, adverse drug effects, and other medication or disease updates. Manufacturers, payers, and physicians all rely on specialty pharmacies to share the valuable patient information that they glean.
It is key, therefore, for specialty pharmacies to have in place the necessary tools for improving, measuring, and reporting on outcomes. Doing this well will have the following positive effects on their business:
- Development of good relationships with manufacturers with whom they contract (which could lead to future growth opportunities).
- Development of a good reputation among specialty pharmacies which can lead to additional contracts with manufacturers and payers.
- Diversification of the measurables used (the more diversified the more potential partners the pharmacy is likely to satisfy).
The greatest difficulty lies in the lack of standard reporting criterion in measuring the outcome of medication therapy. Since patients vary so greatly, so does their feedback. The author recommends that specialty pharmacies do their best to quantify what outcomes they can in order to make their measured outcomes as clear as possible.
For more information, read the article in full at Specialty Pharmacy Times.