Here’s an interesting new twist on hospitals and health systems opening their own specialty pharmacies….. PA-based Geisinger Clinic and NY-based Bassett Healthcare are getting hitched to do exactly that.
Hospital systems tend to be monolithic. However, as the master might say “There may be great wisdom, grasshopper, to share great burdens.” Let’s put that into business terms….. economy, efficiency, utility, scope, and leverage come to mind.
It is expensive to start a large SP operation from scratch…. so sharing costs…. Economy
Sharing operations… everything from IT to toilet paper…… Efficiency
Squeeze the best ROI from investments in hardware, dispensing gear, etc…. Utility
Size still matters when it comes to geography….. patients….. Scope
Last, and certainly not least, purchasing power with manufacturers and suppliers….. Leverage
Our list is not exhaustive but gives some insight on why the marriage may be made in pharmacy heaven. It is interesting that this is a home grown initiative with no mention of a third party specialty pharmacy ‘growth accelerator’ behind the curtain.