VerifiedRx

Beyond Revenue: Measuring Specialty Pharmacy Team Value

Listen Later

Defining and documenting pharmacist interventions beyond prescription revenue is essential to demonstrating the full value of pharmacy teams. Host Carolyn Liptak is joined by Dr. Karen Thomas from the University of Illinois Chicago and Dr. Thom Platt from UK Healthcare to share insights from a multi-system survey exploring how interventions are captured and used. They discuss the variability in current practices, the important role of both pharmacists and technicians, and the opportunity to better quantify clinical and operational impact to C-suite. 

Guests: 

Karen C. Thomas, PharmD, PhD, MBA

Associate Director, Specialty and Infusion Pharmacies 
University of Illinois Hospital and Health System

 

Thom Platt, PharmD, PhD, MBA ,BCPS

Director of Specialty Pharmacy Services 
UK HealthCare 

 

Host:  

Carolyn Liptak, MBA, BS Pharm

Pharmacy Executive Director, Regulatory Compliance
Vizient Center for Pharmacy Practice Excellence  

 

Show Notes: 

00:05 – Introduction

Overview of VerifiedRx and the focus on pharmacy practice excellence.

00:14 – Episode Overview & Guest Introductions

Host Carolyn Liptak introduces the topic: capturing the value of pharmacist interventions beyond prescription revenue.
Guests:

  • Dr. Karen Thomas, University of Illinois Chicago
  • Dr. Thom Platt, UK Healthcare

    • 00:57 – Health System Backgrounds

    • UIC serves a diverse urban population with a strong Medicaid and Medicare presence
    • UK Healthcare supports patients across Kentucky and surrounding states, including rural populations traveling long distances for specialty care

      • 01:48 – What Sparked the Research

      • Originated from a Vizient work group focused on outcomes and value
      • Need for clearer frameworks to document and report pharmacist interventions
      • Lack of standardized guidance from accrediting bodies and payers

        • 02:56 – Survey Goals and Key Findings

        • Explored how health systems define and document interventions
        • Identified major variability in data collection and reporting
        • Found alignment in defining clinical interventions, less consistency in non clinical ones
        • Included responses from 24 health systems

          • 04:21 – Broader Impact on Pharmacy Practice

          • Reinforces the value of pharmacist contributions beyond revenue
          • Highlights prevention of hospital visits and improved patient outcomes
          • Emphasizes the need to better capture and communicate this value

            • 05:38 – Applying the Research in Practice

            • UIC developed a structured framework and documentation tool
            • Supports initiatives like waste avoidance studies
            • Aims to quantify cost savings from pharmacist interventions

              • 06:49 – Relevance Beyond Specialty Pharmacy

              • Concepts apply across all pharmacy settings
              • Data can support staffing, funding, and program expansion decisions
              • Helps communicate value to internal and external stakeholders

                • 07:52 – Role of Pharmacy Technicians

                • 96 percent of sites report technician involvement in non clinical interventions
                • Examples include resolving medication access issues and addressing social barriers
                • Technicians play a critical role in patient support and care coordination

                  • 09:58 – Future Opportunities

                  • Push toward standardizing intervention data collection
                  • Opportunity to reduce duplication of effort across health systems
                  • Goal to create scalable, shared frameworks

                    • 10:41 – Strategic Value of Intervention Data

                    • Supports conversations with leadership and external partners
                    • Demonstrates impact on outcomes like reduced ED visits and length of stay
                    • Strengthens partnerships with payers and manufacturers

                      • 11:34 – Additional Resources

                      • Study published in the Online Journal of Pharmacy
                      • Link available for listeners to explore further

                        • 12:03 – Closing Remarks

                        Final thoughts and appreciation for guests
                        Call to action: subscribe, share feedback, and stay engaged with VerifiedRx

                         

                        Links and Resources: https://www.mdpi.com/2226-4787/13/6/172

                         

                        Subscribe Today! 

                        Apple Podcasts 

                        Spotify 

                        YouTube 

                        RSS Feed 

                         

                         

                        ...more
                        View all episodesView all episodes
                        Download on the App Store
                        VerifiedRxBy Vizient Center for Pharmacy Practice Excellence
                        • 4.6
                        • 4.6
                        • 4.6
                        • 4.6
                        • 4.6

                        4.6

                        9 ratings

                        More shows like VerifiedRx

                        View all
                        Freakonomics Radio by Freakonomics Radio + Stitcher

                        Freakonomics Radio

                        32,108 Listeners

                        The Daily by The New York Times

                        The Daily

                        112,194 Listeners

                        340B Insight by 340B Health

                        340B Insight

                        23 Listeners

                        The Headlines by The New York Times

                        The Headlines

                        754 Listeners