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While specialty drugs were used by less than 2% of the population in 2020, “they accounted for almost 51% of spending under the pharmacy benefit.”[1] Within your 340B program, these numbers can be even higher. On average, we see about six percent of volume resulting in close to fifty percent of savings for our clients. With numbers like this, it’s imperative to understand how to manage your 340B specialty contract pharmacies in order to maximize program value.
Below are five strategies to optimize your specialty pharmacy program:
1. Register your “ology’s”
There are six types of eligible clinics within a health system typically driving the majority of specialty value: dermatology, gastroenterology, rheumatology, endocrinology, neurology, and oncology. Medications dispensed through these clinics have high utilization and yield high savings. Ensuring these clinics are eligible and registered is the first, and most important strategy when capturing specialty value.
2. Set up your ideal specialty network
When developing a specialty network tailored to
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