Downloaded 17 times
Uploaded byHillary Blackburn
Healthcare is Getting Disrupted... Is Pharmacy Ready?
The document discusses the evolving role of pharmacists in the context of healthcare disruption caused by technology, consolidation, and supply chain issues. It emphasizes the importance of pharmacists in managing patient adherence to medications and improving population health outcomes through comprehensive care and coordination. Additionally, it outlines strategies for pharmacists to stay current and engaged in healthcare transformation.
More Related Content
Similar to Healthcare is Getting Disrupted... Is Pharmacy Ready?
Healthcare is Getting Disrupted... Is Pharmacy Ready?
- 1. Hillary Blackburn, PharmD Directorof Pharmaceutical Services, Dispensary of Hope Founder & Host, Talk to Your Pharmacist podcast 1 Healthcare is Getting Disrupted… Is Pharmacy Ready?
- 2. 2 Questions Learning Objectives • Identifycurrent healthcare disruptions • List roles that pharmacists can play in the changing healthcare market • Describe population health and pharmacists’ role • Explain ways that pharmacists can stay up-to-date and bring value
- 4. 4 Questions Healthcare Disruption isHere Technology • Blockchain • Artificial Intelligence (AI) • Telehealth Consolidation of Marketplace • Vertical Integrations • Mergers & Acquisitions Supply Chain
- 5. $1 Billion Buy• Start-up online, mail order pharmacy bought after roughly 5 years in service • Started as a competition at MIT • Goal of proving that managing medications could be made simple • For patients with chronic conditions, multiple scripts, ease of use need The co-founders of PillPack on Tuesday, June 2, 2015, in their Somerville headquarters. CEO T.J. Parker is at left; CTO Elliot Cohen, at right. The mail-order drug company prepackages consumers' pills for daily/hourly use. (Photo by Pat Greenhouse/The Boston Globe via Getty Images) Press. Pill Pack. https://www.pillpack.com/press Tauli T. Amazon + PillPack: Takeaways for entrepreneurs. Forbes. https://www.forbes.com/sites/tomtaulli/2018/06/30/amazon-pillpack-takeaways-for-entrepreneurs/#3632a17f417f
- 6. • “It masteredmedication delivery for a specific population by addressing adherence challenges and offering tailored support and services.” Alison Wistner, CEO of UpWell Health. • Licensed in 50 States • (No shipping to HI or International) • Existing Relationships with PBM’s • Established delivery network Press. Pill Pack. https://www.pillpack.com/press Tauli T. Amazon + PillPack: Takeaways for entrepreneurs. Forbes. https://www.forbes.com/sites/tomtaulli/2018/06/30/amazon-pillpack-takeaways-for-entrepreneurs/#3632a17f417f Why Pill Pack?
- 7. • Stocks • Day1 - WAG, CVS, Rite Aid stock $11B collectively • Disrupt the cash-pay prescription model • Chains have higher prices, Independent lowest prices • Reinvent mail order pharmacy • Majority still filled at retail counter • Excel in Customer Service PillPack/Amazon Disruption in the Pharmacy Industry
- 8. • Vertical Integration •Other Mergers • PBM disruption Fein AJ. Amazon buys PillPack: Six pharmacy and drug channel implications. Drug Channels. https://www.drugchannels.net/2018/06/amazon- buys-pillpack-six-pharmacy-and.html#more Consolidation Disruption in the Pharmacy Industry
- 9. Supply Chain Disruptionin the Pharmacy Industry Available from:http://pharmaceuticalcommerce.com/information-technology/blockchain-technology-make-dscsa-work-2023/ How to solve the Drug Supply Chain & Security Act?
- 10.
- 11. …to a nationalimpact. In 2017, the Dispensary of Hope received donations valued over $60,000,000 from manufacturers to provide network partners with medication to fill over 900,000 prescriptions representing over 407,000 patient encounters serving the most vulnerable patients in our communities across the nation. 11
- 12.
- 13. THE DISPENSARY OFHOPE ADVANTAGE 13
- 14. HEALTHCARE COSTS CONTINUETO RISE LEADING TO ISSUES Patients are not compliant leading to 33 – 69% of drug related adverse events1 • 75% of patients do not take medications as directed • 30% of patients fail to fill new prescriptions • 12% of patients are using expired medications Adherence to medications lowers total health cost spending3 1. Why are so many patients noncompliant. Medscape. Jan 2014. http://www.medscape.com/viewarticle/818850 Ac cessed February 15, 2017. 2. Consumer Report Survey 2016 3. Roebuck MC, et al. Medication adherence leads to lower drug spending. Health Affairs. 2011;30(1):-99. Nonadherence leads to $100 - $300 billion of avoidable health care costs
- 15. Provide Dispensary ofHope meds to patients free of charge Increased adherence lowers total health cost spending for HIGH RISK, HIGH COST patients1 ED Visits Inpatient Visits Length of Stay Serve more patients with access to unlimited ordering of medications Achieve goal of increasing patient access Decrease readmissions & improve patient outcomes Provide medications at discharge to improve care continuity 1) Weaver A, Holland J, et al. Advisory Board Consulting. Dispensary of Hope; 2016. Medication Solutions to Better Health Outcomes
- 16. 16 Institute for HealthcareImprovement’s Triple Aim: 1. Decrease Costs 2. Improve Population Health 3. Enhance Patient Experience1 2) Weaver A, Holland J, et al. Advisory Board Consulting. Dispensary of Hope; 2016. 1) IHI Triple Aim Initiative. Institute for Healthcare Improvement. http:// www.ihi.org/engage/initiatives/TripleAim/Pages/default.aspx Accessed February 15, 2017. Address the Triple Aim
- 17. 17 What is PopulationHealth? Population Health has been defined as “the health outcomes of the individuals, including the distribution of such outcomes within the group.”1 What is Population Health Management? Population Health Management (PHM) has been defined as a set of actions, backed and dictated by the flow of information, that guide providers to the best way to providing optimal services to a group of patients with specific healthcare needs.2 PHM is distinguished from disease management by including more chronic conditions and diseases, by use of "a single point of contact and coordination", and by "predictive modeling across multiple clinical conditions".3 1 American Journal of Public Health 2 HealthIT Analytics.com 3 Healthways’ PopWorks
- 18. 18 Areas of Focus: •Economic barriers • Social barriers Pharmacists’ activities: • Coordinate with team to navigate economic and social barriers to patients obtaining medicine • Regularly assess needs: • Transportation • Affordability • Caretaker support Pharmacy’s Role in Population Health: Medication Access
- 19. 19 High Impact CarePriorities: 1. Comprehensive Medication Management 2. Care Coordination 3. Information Technology Strategies 4. Medication Access Pharmacy’s Role
- 20. Pharma Costs RequireC-Suite Attention Source: Health Care Advisory Board interviews and analysis. 2 3 4 1 Reining in Employee Health Spend • How actively do we manage our outpatient formulary? • Are we collecting and utilizing data on prescriber variation patterns? Commercializing Pharmacy Management Expertise • Have we expanded our health plan to outside entities? • Have we initiated conversations with retail pharmacies? Managing Prescription Costs for At-Risk Contracts • Are pharmacists integrated in our clinical care teams? • Is medication reconciliation being performed at all transitions of care? Evaluating the Opportunity for Specialty Pharmacy • Have we evaluated our eligible patient population and their drug coverage? • Have we created a strategy to manage limited distribution drugs? Image adapted from the Advisory Board Company. To explore these topics in more depth, Advisory Board Company members can watch on-demand webinars: “5 Things CEOs Need to Know About Pharmacy” and “What CEOs Don’t Know About Pharmacy” Focusing in on Actionable Opportunities
- 21. Actionable Pharmacy Opportunities Pharmacist Action Improvedhealth outcomes readmissions patient safety health care costs
- 22. Why Are DisruptorsImportant? Adopting technology has improved outcomes 4 Pillars of Disruption 1. Consumerism 2. Disruptive innovation 3. Connection Architecture 4. Economic Models
- 23. Moving Forward –Future of Pharmacy • Population Health • Hospital System Leadership – Chief Pharmacy Officers • Telehealth • Specialty Pharmacy • Pharmacogenomics • Informatics • Embedded in physician practices. Referral system • Mental Health First Aid as frontline providers What’s Next? Discussion
- 24. Moving Forward Pharmacist Rolein Healthcare Transformation: • Become educated and stay current on health and public policy • Become involved in health strategy discussions • Incorporate pharmacy skill sets into plan • Create new opportunities for pharmacy action • Establish credibility/leadership support with other health care team members
- 25. Ways Pharmacists CanStay Up-to-Date • Start with required curriculum in pharmacy school – innovation & entrepreneurism • Read non-pharmacy specific healthcare articles (i.e. Modern Healthcare, Becker’s Review, New England Journal of Medicine Catalyst, Advisory Board Company briefings) • Read the ASHP Pharmacy Forecast • Attend local and national meetings to network with colleagues • Listen to podcasts
- 26. Interested in Hearingfrom Pharmacy Leaders? 26 Podcast on iTunes: Talk to Your Pharmacist hosted by Hillary Blackburn with guests such as deans & professors from colleges of pharmacy, clinical leaders, presidents of national pharmacy associations
- 27. 27 Advocacy for thePharmacy Profession
- 28. 28 What are someways that pharmacy can be involved in healthcare transformation? A. Become educated and stay current on health policy B. Educate others about use of pharmacy skill sets in new areas of healthcare C. Establish credibility/leadership support with other health care team members D. All of the above Assessment Question?
- 29. 29 What are someways that pharmacy can be involved in healthcare transformation? A. Become educated and stay current on health policy B. Educate others about use of pharmacy skill sets in new areas of healthcare C. Establish credibility/leadership support with other health care team members D. All of the above Assessment Question?
- 30. 30 Hillary Blackburn, PharmD Director,Pharmaceutical Services [email protected] 615-248-0103 Questions? Hillary Blackburn, PharmD Founder & Host, Talk to Your Pharmacist podcast [email protected] www.pharmacyadvisory.com