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medhealthoutlook.com Pharmacy Management Edition DEC 2020 ELMC Risk Solutions Shining A Ray Of Transparency Into the Healthcare Ecosystem Innovators Medhealth Outlook 2020 Pharmacy Management Richard Fleder John Adler Ali KhoshnevisCopyright @2020 Medhealth Outlook. All Rights Reserved. The content and images used in the publication should not be reproduced or transmitted in any form or by any means without the prior permission of Medhealth Outlook. Landon Noah Emily Ava Visualizers editor@medhealthoutlook.com Sophia Loren Joe TylerAnthony John Editorial staffs Natasha Jacob Managing Editor DEC 2020 Copyright @ Medhealth Outlook 2020 Subscribe medhealthoutlook.com The estimated market size of drug stores and pharmacies across the United States is estimated to be about $318 billion and growing in 2020. As the pharmaceutical industry is keeping pace, pharmacists are looking for user-friendly pharmacy management solutions to increase efficiency with managed workflow. Modern and customized pharmacy management systems simplify the process of medication dispensing, sales-related processes, and inventory management with ease. Like other areas of healthcare, pharmacies also handle a large amount of data and need a lot of analytical capabilities for simplifying management. Data management solutions designed for pharmacies provide real-time data that helps pharmacists control operating costs, improve population health management while ensuring medication adherence. As pharmacies interact with a large number of patients every day, data regarding each of these interactions are stored within the pharmacy information system. These data can be utilized later for improving the business strategy that’s required during any certification or inspection processes. These performance reports also offer valuable insights into the operations of the pharmacy. It helps differentiate the patients who visit the pharmacy for refills frequently. Effective analysis of this data helps pharmacies to identify the upcoming requirements and stock accordingly. Various studies also suggest that most patients prefer value-based care that caters to their individual requirements. Today’s advanced pharmacy management software solutions combine the pharmacy’s compounding skills and multiply them through integration with innovative technologies. Highly advanced systems with embedded technologies help pharmacists create tailored medication packages for each patient. As the number of innovations in the pharmacy management solutions arena is on the rise, this edition highlights some of the most advanced pharmacy management solutions and their providers. Developed by our editors, researchers, and industry veterans, we hope this edition of our magazine provides you with valuable insights about the pharmacy management solutions realm. Editors Note The Heart of Modern Pharmacies Natasha Jacob Managing Editor Sam Morris Sales sam@medhealthoutlook.com sales@medhealthoutlook.comExpertise Technology Quality Turning our services into your solutions We are a CRO providing integrated, science-driven, product development services throughout the drug discovery and development process to enable life science companies to achieve their drug development goals. CONTACT US TODAY: sales @ frontagelab.com OR VISIT US AT: frontagelab.com18 ELMC Risk Solutions Shining A Ray Of Transparency Into the Healthcare Ecosystem Richard Fleder John Adler Ali Khoshnevis Custom-Built PBM Solutions for Specialty Pharma ASCELLAHEALTH Dea Belazi President & CEO 16 Innovators Medhealth Outlook Pharmacy Management 202024 20 28 31 18 CIOS, CMIOS STILL SEEING CHALLENGES WITH EHR INTEGRATION OF THIRD-PARTY APPS A CIO’S PERSPECTIVE ON THE PROMISE OF DIGITAL TRANSFORMATION MEDHEALTH CONTRIBUTORY TEAM IT’S TIME TO DIVERSIFY THE CLINICAL TRIAL WORKFORCE TECHNOLOGY OUTLOOK IN THEHEALTHCARE INDUSTRY FOR 2021 Contents Kat Jercich, Senior Editor Mike Restuccia , CIO of Penn Medicine Medhealth Contributory Team Jim Kremidas, Executive Director, Association of Clinical Research Professionals Curt Kwak, Chief Information Officer at Proliance Surgeons An Industry-Leading PBM Service for Hospices Efficient Automation— Optimized Pharmacy Spend DELTA CARE RX SRX Drew Mihalyo, founder, president, and COO Scott Taylor, Founding Principal & CEO 26 228 Innovators Medhealth Outlook 2020 Pharmacy Management Combining our analytics platform with ELMCRx’s clinical expertise, creates a very strong model to guide healthplans and consumers to better choices Richard Fleder9 O ne of the main challenges within the healthcare industry – finding the right balance between drug discovery and drug pricing ultimately makes or breaks the business. Private plans find themselves facing the same challenges as government programs (Medicare and Medicaid) when it comes to fund the prescription drug needs of those covered by the plans. While today’s market offers a plethora of options for prescription drugs, it has left patients and healthcare plan members confused about the pricing and benefits related to their healthcare plans. Given that employers, healthcare providers, and third-party administrators are unlikely to undergo a disruptive change in their health plans, the goal was to facilitate effective providing medication coverage without significantly altering their healthcare plans. Pursuing this quest to defeat the ever-increasing costs in the world of Pharmacy Benefits comes ELMC Rx Solutions. ELMCRx stands apart from its peers and empowers employers and healthcare plans by offering transparency in drug pricing and better member engagement. The Pennsylvania based firm helps payers including private employers, government entities and union trust funds mitigate the clinical and financial risks while preserving the program benefits for the members. COVER STORY ELMC Risk Solutions Shining A Ray Of Transparency Into the Healthcare EcosystemNext >