June 29, 2021
Specialty medications fill a unique and important niche for patients facing complex or chronic conditions. By definition, specialty medications are high-cost medications that call for special monitoring, dose tracking, and/or administration. In other words, they take a special touch.
Just a Few Patients Account for Most Rx
Although patients requiring specialty medications account for just 1-2% of patients covered by insurance plans, the costs of specialty medications can be as much as half of pharmacy benefits for payers.
The growth in specialty pharmacy started a marked upward trajectory about 20 years ago, with medications such as Copaxone®, Remicade®, and Enbrel® entering the marketplace. Since 2013, more than 140 new specialty medications joined those three medications in earning FDA approval.
FDA Approvals Going Strong
And there’s no slowdown in sight. Of the new medications in the queue for potential FDA approval in 2021, about 60% are specialty pharmaceuticals.
With more specialty medication choices available for patients all the time, it’s important to partner with a specialty pharmacy that can best help your office and your patients navigate their plan of care. Give your patients the ‘fast & easy’ service they deserve by referring to BioPlus Specialty Pharmacy.