Is Pharmacy Expansion Right for Your Health System?

In an effort to increase margins, improve clinical care, and rise to competitors, some health systems are looking to expand their pharmacy services.

If you build it, will they come?

From big pharmacies to retail giants, health systems are facing competition left and right. Searching for a one-stop experience for patients, some are looking to add pharmacy services.

In an effort to keep their patients within their healthcare network, pharmacies are being built as stand-alone facilities or are co-located beside existing clinics. Through the 340B Drug Pricing Program, health systems can be reimbursed through Medicaid for outpatient drugs sold to uninsured and low-income patients.

But with several major criteria to consider, expansion might not be a simple fix for all. Check out the big ticket items to consider when deciding if pharmacy expansion is right for your health system.

Take a look at the full story by Eric Wicklund to see what industry pros are saying about the topic.

These expansion guidelines come from Nicole Faucher, MS, president of Clearway Health, a Massachusetts-based company spun out of Boston Medical Center that partners with health systems and hospitals to strengthen their specialty pharmacy programs.