Specialty pharmacy is a high-value segment of the healthcare ecosystem that has dramatically increased in importance to payers, pharmaceutical companies and patients alike. Inovalon is an industry leader serving 35% of the specialty pharmacy market providing ScriptMed®, an end-to-end platform that empowers a data-driven approach to pharmacy operations, from referral to delivery to ongoing care, improving patient care, outcomes and economics. All segments of the healthcare ecosystem rely on the capabilities of specialty pharmacy for their own respective care, quality and economic goals.
Bringing together scale, robustness, cost efficiencies, real-time data connectivity and advanced analytics, ScriptMed® Cloud, powered by the Inovalon ONE® Platform, enables unmatched functionality and financial benefits for the specialty pharmacy marketplace and patients served.
Specialty pharmacy is a high-value segment of the healthcare ecosystem that has dramatically increased in importance to payers, pharmaceutical companies, and patients alike. An industry leader with four of the top seven specialty pharmacies as customers, the ScriptMed® Platform serves 35% of specialty pharmacy patients nationally.
Specialty pharmacy focuses on high-cost, high complexity pharmacological care. With the rising number of patients with highly complex chronic and/or rare conditions and increasing application of precision medicine, the U.S. specialty pharmacy market has grown from approximately $98 billion in 2010 to $178 billion in 2015 and is expected to continue to expand to an estimated $500 billion through 20201. All segments of the healthcare ecosystem — payers, providers, pharma, and patients – rely on the capabilities of specialty pharmacy for their own respective care, quality and economic goals.
1 Source: Specialty Pharmacy by the Numbers, Pharmacy Times, https://www.pharmacytimes.com/news/specialty-pharmacy-by-the-numbers, April 2019.
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ScriptMed® Cloud Clinical includes rules-based clinical protocols that enables clinicians to systematically define, initiate, track and enable patient interventions. These clinical protocols and rules support comprehensive customization of patient care programs to meet the demands of medications management, REMS management, disease state management, data collection and assessments, and other reporting requirements for customers and their downstream partners.
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ScriptMed® Interchange Cloud streamlines communications and removes duplicate efforts across key specialty pharmacy stakeholders to deliver real-time, actionable insights. Empowered by the differentiated capabilities of the Inovalon ONE® Platform, ScriptMed® Interchange allows partners to exchange certain information with approved entities authorized by Inovalon to participate in Interchange Transactions, including but not limited to health care providers, specialty pharmacies, pharmacy benefit managers, pharmaceutical product manufacturers, access hubs, and patient service providers (“Specialty Pharmacy Channel Partner”). Through synchronized, protocol-driven workflows, Interchange Cloud decreases the number of patient therapy days, improves patient outcomes and expedites prescription processing while decreasing operational costs.
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Inovalon maintains one of the nation’s largest networks of healthcare data connectivity and the nation’s largest primary-sourced healthcare dataset containing deep, longitudinally matched data for more than 338 million unique patients and 63 billion medical events. Through FHIR®-enabled, real-time clinical data exchange, patient authentication toolsets, and easy-to-configure interfaces, stakeholders throughout the pharmacy ecosystem can leverage Inovalon DataStream™ to access patient-specific data and analytical insights on-demand, in real time.
Powered by the Inovalon ONE platform, ScriptMed’s® clinical intelligence engine makes FHIR-enabled API calls to DataStream™, returning normalized and validated clinical insights back to the ScriptMed® Cloud platform to deliver insights aligned with the patient’s care plan, at the point of care. Inovalon DataStream™ provides clinicians with a comprehensive view of a patient’s health history enabling better patient care and improved operational efficiency and economics for pharmacy.
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