Beyond revenue: Measuring specialty pharmacy team value

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: MDPI - Capturing Value: How Health-System Specialty Pharmacies Define and Document Pharmacist Interventions   Subscribe Today!  Apple Podcasts  Spotify  YouTube  RSS Feed