How do you fit into the marketplace? We can help you figure it out.
RxTrail has a deep understanding of the pharmacy and healthcare marketplace. Due to consolidation, businesses must understand how and where they plugin. We have a proven track record of helping pharmacies understand this complex landscape. Previous work completed by RxTrail includes development of hospital owned retail and independent pharmacies, business development and growth strategy for infusion and home infusion, consulting around Specialty pharmacy and assistance with payer contracting. RxTrail has conducted multiple Pharmacy Service Administration Organization (PSAO) evaluation and selection projects. Our areas for which we can help you include Retail, Hospital-Owned Retail, Meds-to Beds programs, Specialty Pharmacy, Home and Ambulatory Infusion.
Who we serve
In the era of DIR fees and clawbacks, independent pharmacies face unprecedented financial pressure, due to shrinking margins and network exclusion. RxTrail advises independent pharmacies on options to expand services and generate better margins, by effectively partnering with hospitals, health systems and providers. RxTrail works with multiple technology companies in the independent pharmacy space and can guide independents towards processes and tools that give them a clear view of their business operations and financials.
Hospitals and health systems have unique opportunities to keep more of their own patient volume, within their own networks. This can be achieved by strong partnerships with independent pharmacies but also by creation of hospital-owned retail pharmacies. There is a formula for success in the growth of hospital-owned retail pharmacy. A strategy to effectively funnel all potential traffic towards our pharmacy has been developed and measured by RxTrail. The strategy is a multi layer approach to the utilization of clinic staff and pharmacy resources. We would love to share more about hospital-owned retail and the integrated pharmacy initiative. Contact us if you would like to learn more about this.
Specialty pharmacy is expected to hit nearly $400 billion dollars in 2020, accounting for roughly 40% to 50% of the overall drug spend by healthcare plans.Despite the relatively low volume as compared to retail transactions, specialty pharmacy drugs geared at rare diseases are being released every month, with stunning costs. For example, Zolgensma, and biologic used to treat Spinal Muscular Atrophy (SMA) on average costs plans $2 million and as high as $5 million dollars per treatment.
Specialty pharmacy is a complex ecosystem of payer relationships and drug access. Because of the cost of these agents, businesses including independent pharmacies and health systems have a focused-eye on capturing patient volume for specialty pharmacy transactions. RxTrail can assist businesses in understanding this complex ecosystem, and also assist in the development of your Specialty Pharmacy. We provide accreditation assistance, technology selection and implementation, payer contracting, and business strategy.
Site of care is being keenly looked at the past several years, and highly-expensive home infusion and infusion center medications come to market. A shift in the marketplace towards lower cost, outpatient therapy has opened many doors to businesses, while other businesses see their infusion volume dissipating. Some of the complexities around home infusion is the need for adequate monitoring,medication acquisition, and payer contracting. Strategies exist around 340B for many stakeholders, including infusion pharmacies not currently participating, and Covered Entities without a current infusion strategy which includes the 340B program.
RxTrail has helped multiple infusion providers understand the provider marketplace, with respect to the 340B program. This has helped them to build key relationships that grant the access to deeply discounted medications, which improves both margin and the volume of prescriptions they are fulfilling for infusion services. Covered Entities can likewise benefit from the addition of infusion service providers to their existing 340B program. Get in touch with us to learn more about how we can help in this space.