Beyond Revenue: Measuring Specialty Pharmacy Team Value cover art

Beyond Revenue: Measuring Specialty Pharmacy Team Value

Beyond Revenue: Measuring Specialty Pharmacy Team Value

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Defining and documenting pharmacist interventions beyond prescription revenue is essential to demonstrating the full value of pharmacy teams. Host Carolyn Liptak is joined by Dr. Karen Thomas from the University of Illinois Chicago and Dr. Thom Platt from UK Healthcare to share insights from a multi-system survey exploring how interventions are captured and used. They discuss the variability in current practices, the important role of both pharmacists and technicians, and the opportunity to better quantify clinical and operational impact to C-suite. Guests: Karen C. Thomas, PharmD, PhD, MBA Associate Director, Specialty and Infusion Pharmacies University of Illinois Hospital and Health System Thom Platt, PharmD, PhD, MBA ,BCPS Director of Specialty Pharmacy Services UK HealthCare Host:  Carolyn Liptak, MBA, BS Pharm Pharmacy Executive Director, Regulatory Compliance Vizient Center for Pharmacy Practice Excellence Show Notes: 00:05 – Introduction Overview of VerifiedRx and the focus on pharmacy practice excellence. 00:14 – Episode Overview & Guest Introductions Host Carolyn Liptak introduces the topic: capturing the value of pharmacist interventions beyond prescription revenue. Guests: Dr. Karen Thomas, University of Illinois ChicagoDr. Thom Platt, UK Healthcare 00:57 – Health System Backgrounds UIC serves a diverse urban population with a strong Medicaid and Medicare presenceUK Healthcare supports patients across Kentucky and surrounding states, including rural populations traveling long distances for specialty care 01:48 – What Sparked the Research Originated from a Vizient work group focused on outcomes and valueNeed for clearer frameworks to document and report pharmacist interventionsLack of standardized guidance from accrediting bodies and payers 02:56 – Survey Goals and Key Findings Explored how health systems define and document interventionsIdentified major variability in data collection and reportingFound alignment in defining clinical interventions, less consistency in non clinical onesIncluded responses from 24 health systems 04:21 – Broader Impact on Pharmacy Practice Reinforces the value of pharmacist contributions beyond revenueHighlights prevention of hospital visits and improved patient outcomesEmphasizes the need to better capture and communicate this value 05:38 – Applying the Research in Practice UIC developed a structured framework and documentation toolSupports initiatives like waste avoidance studiesAims to quantify cost savings from pharmacist interventions 06:49 – Relevance Beyond Specialty Pharmacy Concepts apply across all pharmacy settingsData can support staffing, funding, and program expansion decisionsHelps communicate value to internal and external stakeholders 07:52 – Role of Pharmacy Technicians 96 percent of sites report technician involvement in non clinical interventionsExamples include resolving medication access issues and addressing social barriersTechnicians play a critical role in patient support and care coordination 09:58 – Future Opportunities Push toward standardizing intervention data collectionOpportunity to reduce duplication of effort across health systemsGoal to create scalable, shared frameworks 10:41 – Strategic Value of Intervention Data Supports conversations with leadership and external partnersDemonstrates impact on outcomes like reduced ED visits and length of stayStrengthens partnerships with payers and manufacturers 11:34 – Additional Resources Study published in the Online Journal of PharmacyLink available for listeners to explore further 12:03 – Closing Remarks Final thoughts and appreciation for guests Call to action: subscribe, share feedback, and stay engaged with VerifiedRx Links and Resources: MDPI - Capturing Value: How Health-System Specialty Pharmacies Define and Document Pharmacist Interventions Subscribe Today! Apple Podcasts Spotify YouTube RSS Feed
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