Specialty drugs are high-cost medications used to treat complex, chronic conditions such as cancer, HIV, and autoimmune diseases.
Though they’re lifesaving medicines, their high costs are becoming a challenge for employers providing health insurance to their employees.
Employers are found in a tight spot as they need to ensure their employees have access to the needed medications along with finding a cost-effective solution to manage the high costs of specialty drugs.
If you’re also sailing in the same boat, we’ve got a solution for you.
Partnering with international pharmacies.
Before we dive deep into it, let us share the causes of these price hikes with you.
What are the Specialty Drug Cost Drivers?
- Complicated dosing regimens
- Minimal generic substitutions
- Smaller patient population (hence, the high costs)
- Limited distribution networks
- Adherence issues impact outcomes
- Require risk evaluation and mitigation strategies
- Complicated to manufacture, distribute, dispense, and administer
How can International Pharmacy Partnerships Save Costs for Employers?
International pharmacy partnerships can save costs for employers by leveraging lower drug prices in other countries.
The cost of prescription drugs in the United States is often two to four times higher than those in other tier-1 countries.
International pharmacy partnerships can offer cost-saving in several ways.
By taking advantage of lower drug prices and offering concierge services, international pharmacy partnerships can lead to significant cost savings and improved health outcomes.
However, it’s vital to know that importing drugs from other countries comes with regulatory hurdles.
Employers must ensure that they are working with reputable international pharmacies that follow FDA regulations and have appropriate licenses and certifications to import and distribute drugs.
What are the Benefits of Concierge Service for Patients?
A concierge service for patients is a personalized service that helps patients manage their medications and treatment regimens.
It can provide a range of services, such as medication reminders, counseling and education, refill management, and coordination with healthcare providers.
Concierge service can be valuable for patients who may need additional support in managing their complex medication regimens and chronic conditions.
Is it vital to integrate your pharmacy software with international pharmaceutical partners?
Integration plays a huge role in dispensing the correct medicine to the patients’.
It provides tracking details to your pharmacy and patients.
Additionally, if both systems are integrated, there’s no need to manually enter all the data.
This integration can help automate tasks, minimize errors, and provide real-time data on inventory levels and medication prices.
Improved communication between domestic healthcare organizations and international pharmacies can also facilitate collaboration and address issues that may arise.
Ultimately, this integration can help ensure that patients have access to safe and effective medications at an affordable cost.
How can we help you in integrating your pharmacy software with the international pharmacies software?
We are one of the top Ontario-based healthcare IT companies and have been serving the Canadian and USA healthcare industries for more than 8 years.
We have dedicated healthcare integration experts who have earned the ultimate mastership to integrate any healthcare system with zero interoperability and security issues.
We also accommodate app developers, business experts, and compliance consultants who all work together to satisfy all of your requirements and ease your IT pain.
We also have a proven mastership working with HL7 and other interoperability standards.