For the fifth consecutive year, the ASHP Foundation, has published the Pharmacy Forecast report which is designed to propel pharmacy practice leadership. The report was featured in a session last week at the ASHP Midyear conference.The report highlights eight areas of interest that are predicted to affect pharmacy strategic analysis over the coming years. The eight areas include the following:
- Population health management
- Health-system operations
- Health information technology
- Therapeutics
- Managing medication costs
- Regulatory requirements
- Pharmacy work force
- Presidential election
Let’s spend a few seconds brushing over each section.
Population health management (PHM) continues to be a top strategic initiative for health-system pharmacy leaders due to evolving payment models which incentivize patient wellness. This year’s report emphasizes health-related behavioral and societal issues.
Health-system operations are changing rapidly in response to the trends in health care payments, the shift from ambulatory care to outpatient care, quality measurements, and patient empowerment through data. Health care systems will need to get creative when it comes to offering the highest quality of care at the lowest cost.
When it comes to health information technology, system-wide integration is becoming critical. Advances in technology are leading to centralized patient care plans and enhanced safety if used effectively. Training and quality improvement plans are essential in this area to ensure technology is being used to provide maximum benefits to patients and providers alike.
Innovative pharmaceuticals and precision medicine are creating new challenges. The FDA’s approval of new pharmaceuticals is continuing at a rapid pace. Many of these therapies are extremely expensive making the use of pharmacogenomics essential. Due to the complexity of these therapies, health systems may be required to adopt payer-specific treatment pathways.
The cost of drugs continues to escalate. Specialty medications and oncology drug costs continue to climb and the consolidation of drug manufacturers are causing generic drug costs to climb, as well. Pharmacists should look to mitigate cost by using less expensive medications which are equally effective as their counterparts. In addition, value-based pricing may have to be incorporated into payment policies with a focus on incremental value.
The burden of regulation and compliance continues to build in the pharmacy space. Pharmacists spend an exceptional amount of time on regulatory compliance, but it is essential to the health and safety of health care workers and patients. Some areas of focus on compliance include sterile compounding, pain management, infectious disease, reporting, and advocacy of compliance.
The pharmacy workforce is experiencing a shift in roles, responsibilities, and training. Pharmacists are becoming increasingly involved in patient care. There has been significant growth in the number of new pharmacy graduates in recent years. Students need to be integrated into pharmacy teams as productive, contributing members. And lastly, it is noted that a formal career ladder for the pharmacy technician would benefit many health system pharmacies.
As for the presidential election, health systems are left feeling uncertain. The election could lead to health care reform of the Patient Protection and Affordable Care Act (ACA). It is predicted that President Trump is unlikely to support provider status for pharmacists, and that he is unlikely to influence drug pricing.
So there you have it, the ASHP Foundation 2017 Pharmacy Forecast Report broken down into bite size pieces. To download the full report, please follow the link below.
