New program aims to reduce costs through
enhanced medication options for patients
BOSTON, July 18,
2024 /PRNewswire/ -- A new partnership between
Boston-based Clearway Health,
a company partnering with hospitals and health systems to build and
strengthen specialty pharmacy programs and Baptist
Health, a full-spectrum health system with nine acute care
hospitals headquartered in Louisville,
Kentucky, was formalized to improve access to payor
networks. Entryway into payor networks will aim to improve
availability of prescription medications at more affordable
prices.
Baptist Health opened a new centralized pharmacy for its
healthcare system in June. The partnership with Clearway Health
will break down barriers to allow the entire health system, which
has 11 existing retail pharmacies across the system, as well as the
new central fill pharmacy to unlock opportunities often
inaccessible to local or regional hospitals, including access to
medications with payor lockouts.
The improved pathway to these medications at more affordable
prices will help to reduce care fragmentation by allowing the
clinical team to manage the care of more of their patients across
the continuum, including their medications and supplies. The health
system's improved financial margin will help provide additional and
much needed healthcare services to patients and the local
community.
"Baptist Health is transforming specialty pharmacy services
--not only for our health system, but for hospitals across the
country in setting a new industry standard," said Nilesh Desai, MBA, BS, RPh, CPPS, chief pharmacy
officer at Baptist Health. "Having an expert partner like Clearway
Health to navigate challenging payor networks is a tremendous
advantage for our program's growth. In just one year, this work
will generate nearly $100M in
incremental revenue that will allow Baptist Health to continue to
provide essential healthcare services for the communities it
serves."
To help hospitals and health systems gain access to life-saving
medications for their patients and keep patient care integrated,
optimizing relationships with payors is crucial to the success of a
specialty pharmacy program and helps to lower costs for all parties
involved including the patients, health system and payors.
"Clearway Health supports health systems at every point of their
pharmacy and specialty pharmacy journey," said Allison Arant, senior vice president, client
development and marketing, Clearway Health. "We're honored to serve
as Baptist Health's partner as they launch the fast-tracked
expansion of their program. In the first 30 days of our
partnership, we unlocked access to the first payor and look forward
to continued growth and success together."
About Clearway Health
Clearway Health partners with hospitals and health systems to
build or strengthen their own specialty pharmacy program, improve
access to care and provide personalized support to vulnerable
patients, families, providers and care managers to eliminate
barriers and ensure medications are received on time. Born out of
Boston Medical Center, Clearway Health serves hospitals, health
systems and their communities - providing a service that's been
proven, lived and experienced by our team. To learn more,
visit www.clearwayhealth.com.
About Baptist Health
Founded in 1924 in Louisville,
Kentucky, Baptist Health is a full-spectrum health system
dedicated to improving the health of the communities it
serves. The Baptist Health family consists of nine acute care
hospitals, employed and independent physicians, and more than 450
points of care, including outpatient facilities, physician
practices and services, urgent care clinics, outpatient diagnostic
and surgery centers, home care, fitness centers, and occupational
medicine and physical therapy clinics. Learn more at
BaptistHealth.com.
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SOURCE Clearway Health