Increasingly, patients in the U.S. look to Canada for more affordable prescription options since the Canadian government regulates drug costs. Some companies have noticed and are beginning to capitalize on the demand.

The second quarter of 2023 ended with 309 active drug shortages, the highest total in nearly a decade, according to a new report from ASHP. One of the organization’s executives pointed out that drug shortages have two major impacts on health systems: they create a lot of extra work for the pharmacy department, and they force clinicians to make tough decisions about patient care that could potentially result in worse patient outcomes.

Hospitals’ pharmacy spending is projected to rise by 3.42% next year, according to a new report. Specialty drugs, including Ozempic and Humira, as well as neurology medications are the primary drivers of this increase in pharmacy expenses.

Even as value-based care finds its footing and expands further, team-based approaches to care delivery incorporating pharmacists as crucial connections are already bearing results—helping provider organizations achieve 5-star CMS ratings for medication adherence, driving down costs, and driving up the quality of life for patients.

At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.

Implementing a specialty pharmacy strategy and approach for growth not only creates a revenue stream for the system, but also establishes a high-touch patient engagement program that becomes a differentiator in the way service is delivered for their community.

Hospital executives should rethink the immediate impulse to achieve savings by cutting pharmacy jobs and instead focus on fixing this integral part of a hospital system’s functionality.

There is a huge opportunity for PBMs and health systems to use AI to help address the challenges surrounding the affordability and accessibility of medicines, from navigating formularies to resolving prior authorization. More automation in pharmacies and with ordering workflows is one piece of that puzzle.

The creation of consistent and high value engagements with individuals across their digital and in-person engagements​ will enable these providers to both attract and retain consumers in the rapidly evolving healthcare ecosystem.

Tapping into community pharmacy can bring water to these rural healthcare deserts. Studies show that nine in ten Americans live within five miles of a pharmacy and high-risk patients visited their community pharmacy an average of 35 times per year, compared to four visits to their primary care provider and nine visits to specialists.

The largest six pharmacy benefit managers are being scrutinized by the Federal Trade Commission, while Congress is debating the Pharmacy Benefit Transparency Act. Meanwhile, states have their own ideas for reining in what they see as excesses of the industry. With all this heat, what is the message from the head of the Pharmaceutical Care Management Association?

As healthcare organizations comply with the federal EPCS mandate, artificial intelligence and digital identity technologies should be utilized to detect, reduce, and remediate drug diversion.

Transcarent wants to transform the digital pharmacy benefit experience, enabling self-insured employers and their staff to make more informed choices.

Requiring that PBMs bid on a per member per month guarantee would reduce the employer’s uncertainty by securing the actual per member per month cost to the employer.

The question elicited predictable and unexpected responses from panelists that included a senior executive from CVS Caremark and executives from startup companies working to change the pharmacy benefits landscape.

At the upcoming INVEST Digital Health conference in Dallas set for September 28, in collaboration with Health Wildcatters, a panel discussion on the future of pharmacy benefit managers will be part of the larger conversation on employee benefits. AJ Loiacono, CapitalRx CEO, shared his perspective on the topic.

RxBenefits, a pharmacy benefits optimizer, and Tria Health, a chronic condition and medication management company, have launched a new partnership to improve diabetes care and lower healthcare costs for the condition through a proactive approach. 

As life science companies seek to boost clinical trial participation, eConsent forms can pose a stumbling block. A white paper by Medable shares some insights on how companies can leverage eConsent to improve clinical trial recruitment and retention.

Becton Dickinson is getting into pharmacies with a more than $1.5 billion acquisition of Parata Systems, maker of robotics technologies that automate pharmacy tasks. The deal comes two months after BD completed the spinoff of its diabetes business as a separate, publicly traded company.

A study published in the Journal of Managed Care + Specialty Pharmacy found Medicare Advantage patients reduced their cost of care by using specialty pharmacies instead of mail order or retail pharmacies.

Pharmacy benefit managers have been widely criticized for opaque drug pricing practices. But Waltz Health, which was co-founded by former PBM executive Mark Thierer, aims to use insider knowledge and tech solutions to lower drug costs.

A.J. Loiacono was speaking at MedCity INVEST in late March in Chicago when an audience member requested him to address whether it is sustainable to have a system where after insurance a drug costs $150 for consumers whereas with GoodRx the same drug is $6. Loiacono took aim at PBMs but also didn’t spare the federal government.

Patients are comfortable with pharmacists being more involved, and physicians place a high level of trust in them as well. That mirrors pharmacists’ own confidence in their abilities to serve as a resource for everything from drug interactions to medication management.

The discount card, administered by InsideRx, is offered through Prime Therapeutics and its Blue Cross and Blue Shield clients. To use MedsYourWay, customers must get their drugs from Amazon Pharmacy.

A report from CoverMyMeds interviewed 1000 patients, doctors, and pharmacists and data indicated a further shift towards digital health, challenges in affording medications, and additional roles taken on by pharmacists.

CVS MinuteClinic providers will use Medable’s software platform to improve patient access, engagement and retention during clinical trials. Meanwhile, Thermo Fisher Scientific and Medidata Acorn AI announced a collaboration to develop an application that combines patient recruitment and site performance data for clinical trials.

The current landscape heading into 2022 will keep pharmacy benefits under the microscope. Plan sponsors will evaluate their PBM’s pricing model to determine if their contract will deliver predictable costs, more opportunities for increased savings and improved care for their members.

At its first investor day since the start of the pandemic, CVS Health detailed plans to open primary care centers and integrate them with its other health services. At the same time, CVS plans to close 900 stores as it focuses on this new strategy.