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Specialty Medicines: The Costly Conundrum and the Middlemen Behind It

Specialty medicines are by far the most expensive medicines in the US.

Medicines for diseases like cancer and rheumatoid arthritis fall under the category o specialty medicines that costs around $20,000+ a month.

Specialty drugs account for only 2% of drugs dispensed in the United States.

But they account for more than 50% of the drug spending.

The reason for the high cost of the drug often falls on the heads of the drug manufacturers.

But a huge role is played by the middlemen,

“Pharmacy Benefit Managers”

The Role of Pharmacy Benefit Managers in the Cost of Specialty Medicine

Pharmacy Benefit Managers act as a middleman between the pharmacies and the pharmacy drug suppliers.

They’re the bridge that helps in the smooth supply of specialty drugs.

They create pharmacy networks and a list of drugs along with negotiating rebates from the drugmakers.

The top PBMs have combined with the top ten health insurers in the US and are now part of the 15 largest corporations in the United States.

These PBMs are handling more than 80% of all the transactions related to prescriptions in the United States.

How Can You Save Costs When Ordering Specialty Medicines with Our Software Solution?

In the quest to mitigate the rising costs associated with specialty medicines, innovative software solutions have emerged.

These comprehensive pharmacy solutions offer a range of features designed to streamline operations and optimize cost savings.

Let’s explore some of the key features that our software solution provides.

Top 9 Features of Our Software Solution

1. Automated Refills

With this feature, the software can automatically initiate prescription refills based on predefined criteria or customer preferences.

By eliminating manual intervention, this feature simplifies the refill process, ensuring patients receive their medications promptly.

2. Automated Refill Order Reminders

To prevent medication gaps, our software sends automated reminders to patients when it’s time for them to refill their prescriptions.

It helps ensure that customers don’t run out of medication and encourages timely refills.

3. Automated Prescription Renewal Reminders

Similar to refill order reminders, our software also sends automated reminders to patients when their prescriptions are due for renewal.

By proactively notifying patients, this feature helps them stay on top of their medication needs and ensures continuity of care.

4. Limited Medicines Visibility

Our software offers the flexibility to restrict the visibility of certain medications, complying with privacy regulations, or limiting access to sensitive or controlled substances.

This feature ensures that only authorized personnel can view specific medications, safeguarding patient confidentiality.

5. Automated order placement in the international partner software

For pharmacies collaborating with international partners, our software streamlines the process of placing orders by automating communication with partner pharmacy software.

This feature ensures seamless coordination and facilitates the timely delivery of specialty medicines from international sources.

6. Order sets for specific requirements

To enhance efficiency, our software allows the creation of predefined order sets tailored to specific requirements.

This feature groups commonly prescribed medications or medical supplies, saving time and ensuring accuracy during the ordering process.

7. Unlimited number of partner pharmacies

Our software supports collaboration with multiple partner pharmacies without imposing any limitations on the number of partners.

This scalability and flexibility enable pharmacies to work with a diverse network of pharmacy providers, expanding their reach and service capabilities.

8. Customizable discount rates for each partner pharmacy

This feature enables the pharmacy to set customizable discount rates for different partner pharmacies.

It facilitates negotiations and agreements based on specific partnerships, allowing for flexibility in pricing and promotions.

By tailoring discount rates to individual partners, pharmacies can optimize cost savings while maintaining strong relationships with their collaborators.

9. Automated emails and SMS updates to patients

To enhance patient communication and engagement, our software enables automated emails and SMS notifications.

Patients receive updates on their prescription status, refill reminders, order confirmations, and other important information from the pharmacy.

This feature improves patient adherence and satisfaction by keeping them informed and involved in their medication management.

Steps to Get Our Software Solution for Your Organization

1. Fill up the contact form

2. Our team will reach out to you within 2 business days

3. We will give you a demo of our powerful base

4. We will listen to your customization needs

5. Our team will customize the solution according to your requirements

6. We will perform a QA test and deliver the solution to you within 60 business days