Specialty pharmacies should be well into forecasting for the upcoming year. Cash in fuels cash out….. and you know that more of the former is critical for growth. So, good forecasting provides a roadmap for marketing, sales, purchasing, HR, etc., to ramp up for the new year — or, heaven forbid, plan to trim expenses. Remember, Finance takes an approved forecast and translates it into a company budget.
All good forecasts rely on published reports from pharmacy market analytic resources. Successful forecasts aggregate as much data as possible from multiple sources. So, before you submit your 2022 forecast check out the 2020 Specialty Trend Report from Pharmaceutical Strategies Group (PSG).
By now you should know the highlights. 2020 was a sour year for the economy and its impact to specialty pharmacy should not be overlooked. But, there was some palpable market rebound in 2021…. but we won’t see that data till about April 2022. So, the trends through the downturn are harbingers for the upturn. And, the 2-5-year estimates in the report are credible metrics to moderate your optimism (or pessimism) for 2022.