3 Trends in Specialty Pharmacy Analytics, as Observed by the Acentrus Specialty Conference
Loopback Analytics was invited to attend and be featured at the first virtual Acentrus Specialty Conference (ASC) on January 12th and 13th, 2021. ASC provided a unique opportunity for leaders in health system specialty pharmacy and other industry stakeholders to come together to create a stronger specialty pharmacy ecosystem.
An array of topics was shared at the conference, one of which was how health systems are using data analytics as a catalyst for improving patient care and driving growth. Many speakers also took the opportunity to share their positive experiences of being a client of Loopback Analytics, including how the Loopback platform has helped them bridge the gap between data and outcomes. Three trends were specifically observed throughout the conference:
Trend 1 | Increasing importance of EHR data integration
The need to standardize data from disparate systems within Health System Specialty Pharmacies (HSSPs) cultivated discussions of how data can be harmonized to serve as a foundation for making key decisions within organizations. Loopback’s platform brings data integration capabilities that provide the ability to access data from multiple sources on one dashboard. Melissa Ortega, Director of Outpatient Pharmacy Services at Tufts Medical Center, states, “Using a comprehensive tool like Loopback has not only eliminated numerous spreadsheets but now I easily have more insight into our quality and financial performance.” This harmonization of data provides the opportunity to quickly develop actionable insights, allowing pharmacy staff to make data-driven decisions.
Trend 2 | Leveraging data analytics to drive decision making
A common theme heard from HSSPs at the various roundtables was the importance of having data analytics, harmonized across the health system, readily available to identify key growth opportunities. Loopback clients discussed the benefits they have received through the Loopback Rx Capture module, which helps to identify strategic areas of focus for growth campaigns. “We can access our data in multiple ways with Loopback, which has been invaluable in making headway to increase our rates of capture,” said Jason Bailly, Specialty Pharmacist in Charge at UC San Diego Health.
Trend 3 | Using analytics to illustrate clear value propositions to stakeholders
Participants also spoke of the significance of monitoring patient outcomes for not only improving patient care but also promoting the HSSP program to prescribers and payers. During the discussion on patient outcomes, Loopback clients described their ability to access data analytics tracking medication adherence and clinical outcomes using the Rx Outcomes module on the Loopback platform. “Because of the data Loopback can provide, we’re able to get neurologists’ buy-in for the patients with MS and have them utilize our pharmacy so we can ultimately promote our patient outcomes”, says Lahn Dang, Clinical Ambulatory Care Pharmacist at UF Health. “Loopback has been an awesome partner to work with and a very successful endeavor for us.”
So, what’s next for Loopback?
Loopback Analytics is paving the way for HSSPs to continue focusing on enhancing patient care. At the conference, Loopback presented new innovations in this area. Loopback shared the development of dashboards that concentrate on therapy specific outcomes (TSO) like Multiple Sclerosis (MS) and Cystic Fibrosis (CF). TSO dashboards equip pharmacists with clinical insights within a given therapy area. These insights can be leveraged both to improve patient outcomes and have discussions with payer plans about the outstanding care being provided by HSSP. With rich clinical data, platform users have an abundance of readily available information to continue serving their patients with precision and care.
Overall, ASC proved to be a true sounding board for leaders in the HSSP industry to share knowledge, best practices, and success stories. The learnings throughout the conference will be a driving force for maximizing Loopback and Acentrus’s combined continued efforts to enable pharmacies to win moving forward into 2021.