Pharmacy
-
What Will Rite Aid Need to Do to Recover from Bankruptcy?
Rite Aid filed for Chapter 11 bankruptcy protection on Sunday amid decreasing sales, billions of dollars in debt and more than a thousand lawsuits claiming the chain filled illegal prescriptions for opioids. In order for the company to get back on its feet, experts say it will have to start acting more like its competitors, such as Walgreens and CVS, by leaning more into care delivery, forging strong payer partnerships, and improving its digital offerings.
-
Health Tech, Pharmacy, Startups
Pharmacy Automation Startup Emerges From Stealth With 20+ Customers And $9M Raised
San Francisco-based Plenful emerged from stealth on Tuesday. The startup sells a workflow tool that automates manual and administrative workflows for pharmacy technicians. In addition to its launch out of stealth mode, the company also announced that it has closed a $9 million funding round led by Bessemer Venture Partners and signed contracts with more than 20 customers.
-
Jorie Healthcare CEO Shares Why Automation is Critical to Revenue Cycle Management
The revenue cycle management business is using AI tools to automate cumbersome tasks to help hospitals operate more efficiently. It’s beginning to attract the attention of major healthcare organizations.
-
Drug Shortages Not Only Exacerbate Healthcare Burnout But Can Also Harm Patient Care
The second quarter of 2023 ended with 309 active drug shortages, the highest total in nearly a decade, according to a new report from ASHP. One of the organization’s executives pointed out that drug shortages have two major impacts on health systems: they create a lot of extra work for the pharmacy department, and they force clinicians to make tough decisions about patient care that could potentially result in worse patient outcomes.
-
Health Tech, Hospitals, Pharmacy
Which Drugs Are Driving Next Year’s 3.42% Increase in Hospital Pharmacy Spend?
Hospitals’ pharmacy spending is projected to rise by 3.42% next year, according to a new report. Specialty drugs, including Ozempic and Humira, as well as neurology medications are the primary drivers of this increase in pharmacy expenses.
-
BioPharma, Hospitals, Legal, Payers, Policy
Hospitals Have Concerns About CMS’ Proposed $9B Lump Sum Payment for Illegal 340B Cuts
CMS recently proposed a $9 billion lump sum payment to remedy illegal payment cuts for 340B drugs from 2018 to 2022. In general, hospital groups have reacted positively to the fact that 340B providers will receive lump sum payments but have expressed concern about CMS’ methods for maintaining budget neutrality with this plan.
-
How AI Will Change the Way Patients Get Medication
There is a huge opportunity for PBMs and health systems to use AI to help address the challenges surrounding the affordability and accessibility of medicines, from navigating formularies to resolving prior authorization. More automation in pharmacies and with ordering workflows is one piece of that puzzle.
-
US Sues Rite Aid for Ignoring Glaring ‘Red Flags’ in Opioid Prescriptions
The Department of Justice filed a lawsuit against Rite Aid, accusing the pharmacy chain of filling hundreds of thousands of opioid prescriptions that had “obvious, and often multiple, red flags.” The DOJ claimed that Rite Aid violated the Controlled Substances Act by filling unlawful prescriptions for addictive drugs, as well as the False Claims Act when the chain sought reimbursement from federal healthcare programs for these prescriptions.
-
Navigating Healthcare’s Data Revolution: Priorities, Opportunities, and Challenges for Health Systems
Arcadia recently partnered with HIMSS Market Insights to survey executives, IT, technology, and clinical leaders. Here’s what we found.
-
MedCity Influencers, BioPharma, Health Tech
The True Cost of Unaffordable Healthcare
It’s no secret that healthcare in the United States has become unaffordable. In fact, a […]
-
GoodRx goes ‘provider mode’ with new platform
GoodRx is arguably most well-known for its search platform that allows consumers to compare drug prices across different pharmacies. Now, it has launched a similar platform for healthcare providers. The new platform, called “Provider Mode,” is designed to help providers search for drug cost information while they are conducting appointments with their patients.
-
How pharmacies can thrive amid financial, regulatory and economic uncertainties
Community pharmacies need to ramp up now to be ready for 2023 and ensure their operations, technology and partnerships are in tip-top shape should more unexpected economic turbulence arrive.
-
MedCity Influencers, Consumer / Employer, Pharmacy
The business of empathy: How pharmacists can improve performance by improving the human connection
When pharmacies engage on a human level with patient support programs, patients become more fully engaged in their treatment, leading to potentially significant health benefits and good business for pharmacies.
-
Becton Dickinson buys into pharmacy automation with $1.5B Parata acquisition
Becton Dickinson is getting into pharmacies with a more than $1.5 billion acquisition of Parata Systems, maker of robotics technologies that automate pharmacy tasks. The deal comes two months after BD completed the spinoff of its diabetes business as a separate, publicly traded company.
-
INVEST panelist: Provider status is very necessary for pharmacists (and I will argue with AMA later on this)
James Lott, CEO of Script Health in Chicago, strongly favors the Pharmacy and Medically Underserved Areas Enhancement Act, the bill that would provide pharmacists expanded reimbursement as he outlined many ways they are already providing care to millions in America.