Returning to full capacity in 2022, the Asembia Specialty Pharmacy Summit brought thousands of professionals to Las Vegas to discuss what’s new in the industry, especially the increase in vertical integration. Adam Fein, CEO of Drug Channels Institute, mentioned that specialty pharmacies owned by pharmacy benefit managers (PBMs) account for over three-fourths of the market in terms of revenue and dispensing. As a result, the increase in vertical integration has created a competition for market access and has forced hospitals and health systems to open their own in-house specialty pharmacy to drive volume. As of 2021, Fein noted that specialty pharmacies owned by hospitals and health systems represent a third of all specialty pharmacies, making it the fastest-growing category of specialty pharmacies.
The EveryDose team hosted an exhibit on the show floor that was visited by hundreds of industry leaders representing payers, PBMs, and health systems. With specialty drugs accounting for over half of the total pharmacy spending in the United States, visitors recognized the importance of medication adherence in specialty care and its effect on health outcomes. When patients don’t take their medications correctly, revenues decline and poor outcomes occur. We were excited to share more information about our medication adherence platform and the work we are doing to enhance the patient and clinician experience in the specialty pharmacy space.
Check out our last trip to Asembia in 2021 here.