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What Is The Place Of Specialty Pharmacy In Healthcare Industry?
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What are specialty drugs?
Specialty drugs are high cost and high touch prescription medication used for patients with chronic health conditions such as cancer, arthritis, hepatitis. A careful oversight from a healthcare provider is needed for people using specialty drugs who can ensure that the drugs are not causing any side effects and are working as intended. Specialty medicines range from cutting edge injectable to oral.
What is specialty pharmacy?
The landscape of specialty drugs
For the first time since 2010, specialty drug approvals by the FDA are on rise as compared to traditional drug approvals with drugs to treat cancer and rare diseases topping the list. According to IMS, 37% of 630-plus different research programs are for specialty market drugs.
With specialty pharmacy expected to rise exponentially by 2020, spending in this booming sector is mushrooming. One of the reasons for getting pricing pressure for high- end drugs is negative media coverage. Other reason can be attributed to industry consolidation with focus on buying, mergers of like and partnerships that support beneficial specialty pharmacy services.
The ultimate goal: Better Quality, Lower Costs, Higher Satisfaction
Specialty pharmacies provide 24*7 Support like:
- Insights of data
- Pharmacists for patients
- Refill reminders
Non-commitment for regular medication contributes to global issue that adds to swelling healthcare costs and also effects clinical outcomes. Studies have shown that non-adherence by patients like not filling written prescriptions or not taking medications for chronic illness as intended may result in worsening of disease symptoms or sometimes as serious as hospitalization. The key reason for skipping medication is forgetfulness. Programs to remind people such as mobile apps, text messages are making wide space in this field. PillsBills.com is helping patients all over India by providing high quality specialty medicines online at cost-effective prices.
Increasing the connectivity between specialty pharmacy services and patients has helped in increasing adherence level in patients to 32%.