Why partner with Shields to create or grow a specialty pharmacy program?
As a hospital administrator you have three strategic choices when creating a specialty pharmacy – outsource to a contract specialty pharmacy, build the pharmacy yourself or partner with a specialty pharmacy integrator.
Partnering offers the highest impact in terms of health outcomes, patient retention and financial gains. Partnering has also proven the safest model for accelerating your specialty pharmacy’s time to market.
- Partnering removes significant risk for Administrators:
- Shields Removes Organizational Risk – taking your star players from other projects to run this one, part time or full time, is a drain on organizational energy and focus. Shields can ensure that your current teams stay focused on providing world-class care while your specialty pharmacy is created or expanded.
- Shields Removes Financial Risk – capital investments made up front to start a specialty pharmacy can run into the millions. Shields can invest in the start-up of your pharmacy to remove that risk for you because we are so sure our model works and our people are the best trained in the industry.
- Shields Removes Operational Risk – starting any new business, or changing operations to improve a business, brings change to everyone in an organization. New processes open “learning curve” types of mistakes that can make or break a new venture. Shields removes those risks to our partners’ operations with proven word-class best practices.
- Shields Removes Execution/Implementation Risk – most hospitals and health systems cannot hire and train top-tier pharmacy staff fast enough to ramp up or expand a new business. Shields can do that for you. We also provide immediate access to the vital back-end infrastructure, LDD drugs, payor access and more that make a hospital specialty pharmacy operate efficiently and effectively.
- When you partner with Shields, you quickly gain access to vital payors and Limited Distribution Drugs (LDDs) but fully retain what you may now give away to contract specialty pharmacies:
- Payor access
- LDD and other specialty medication access
- Patient information and access, for the life of the patient
- 340B reconciliation