Specialty Pharmacy Consulting:
The recent news regarding Valeant Pharmaceuticals International has once again brought the topic of Specialty Pharmacy into the national media spotlight. It is yet another incident where utilizing the services of an expert Pharmacy Consulting firm would have paid off. Of course, this is assuming that the large drug maker did not intentionally break the law when it attempted what is being termed a “backdoor approach” in obtaining ownership of Philidor Rx Services. The outcome, however it is decided, brought a tremendous amount of media attention to the company which was denied a California permit to operate. The additional consequence of their actions led to a drastic plunge in the company’s stock prices (a staggering 40% drop).
The company is known historically for obtaining drugs and manufacturers and then raising prices significantly while cutting research and development budgets to the bare minimum. Examples in the past include Medicis (known for it’s skin care products) and Bausch & Lomb (known as the major player in eye care). The tie-in to specialty pharmacies is that the company then encourages MDs and patients to utilize their own line of mail-order and specialty pharmacies to meet the insurance “hassle” associated with the drugs. Specialty pharmacies are seen as a solution for expensive drugs, usually giving patients reduced costs and convenience, while maximizing the insurance reimbursements from those companies that cover the drug.
In the meantime, other drug manufacturers are responding and taking action to minimize concerns regarding their relationships with specialty pharmacies. They do not want the attention to center on the real problem: inflating prices for drugs to increase profits. Allergan stated that just 3% of its transactions are with specialty pharmacies, Endo claims less than 10% & Horizon Pharma has admitted to using both community and specialty pharmacies but said it holds no ownership stake in any pharmacy.
Whether Philidor actually lied in it’s license application to the California Board of Pharmacy resulting in it’s license being denied, the issue highlights what HCC has been telling our customers for over 25 years now: an ounce of prevention is worth a pound of cure! Healthcare Consultants is a leading national Pharmacy Consulting company offering expertise in all areas of pharmacy consulting. Known nationally for being a leading pharmacy staffing company, Healthcare Consultants has been in the business of Pharmacy Consulting for over two decades. HCC is in the business of helping pharmacists establish, run, improve and make their businesses profitable. Owned and operated by pharmacists, Healthcare Consultants can provide proven expertise and experience in all facets of pharmacy operations, including retail, hospital and specialty pharmacy venues.
No matter what your pharmacy consulting needs may be, you can be assured that the experienced HCC staff has helped others with the same issues before. Let HCC and their expert team of pharmacy consultants help you solve your problems too! In today’s environment of a constantly changing landscape in the pharmacy business, let an experienced, proven Pharmacy Consulting company provide you with the assistance you may need. We have a professional full-time staff of pharmacy consultants with a proven track record in every area of pharmacy operations.
If you have questions regarding virtually any area of your pharmacy business or practice, we urge you to contact us today to see how our Pharmacy Consulting services can help. With a full-time staff of in-house Pharmacy Consultant specialists, HCC can answer any questions that you may have in all areas of your business. Call us today at 800-642-1652 for a free consultation.