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Specialty pharmacy at Nashville Healthcare Pharmacy reports improving margins after PBM issues resolved
Summary
Pharmacy manager Jeff Hardwick told the Hospital Authority Board the specialty pharmacy has moved from early negative margins to improving profitability after becoming a covered entity and resolving PBM processing problems; the board heard projected profit-margin estimates and plans to reduce patient 'leakage' to outside pharmacies.
Jeff Hardwick, pharmacy manager, told the Hospital Authority Board on Oct. 30 that the hospital’s specialty pharmacy, operating at the Metro Center clinic as Nashville Healthcare Pharmacy, has progressed from initial startup losses to a positive revenue outlook after technical and contractual hurdles were resolved.
Hardwick said the service handles high-cost specialty medications — “pretty much any medication you see on TV” — used in oncology, rheumatology, HIV care and other specialty clinics. He told the board the program was approved almost a year ago and, while early months showed large drug spend, reimbursement eventually covered those costs. “As we were spending all that money…we were reimbursed all that money,”…
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