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C h a i n D r u g s t o r e D a i l y Tu e s d a y, A u g u s t 2 5 , 2 0 1 5 1 2 NAVIGATING THE FINANCIAL COMPLEXITIES OF SPECIALTY PHARMACY IS POSSIBLE WITH THE RIGHT TOOLS By Jeff Pepperworth, President, Inmar Healthcare Network If the current challenges of the evolving healthcare landscape aren't difficult enough, new horizons bring their own new hurdles. Specialty pharmacy is no exception. Retail pharmacy economics have been difficult in recent years. Historically, developments such as expir- ing patents of big-selling brand drugs would have been great news for retailers, as generic drugs have long driven profits. However, profits have eroded in the face of increases in discount and free generic programs, aggressive MAC pricing and the recent upward trend in generic drug pricing. Are specialty drugs the answer? According to an April 2014 report from the UnitedHealth Center for Health Reform & Modernization, spending on specialty drugs in 2012 in the United States was about $87 billion. Estimates suggest that it could quadruple by 2020, reaching about $400 billion, according to "The Growth of Specialty Pharmacy, Current Trends and Future Opportunities," April 2014, published by UnitedHealth Group. The growth of specialty pharmaceu- ticals brings with it significant chal- lenges in navigating the complexities associated with this class of expensive treatments as they manifest in distribu- tion models, multiple payer and pay- ment assistance possibilities and new accountabilities for pharmacies. While specialty pharmacy represents revenue opportunities, it also requires navigating a more complex environment with heightened expectations of vigilance to realize those gains. Specialty pharmacy presents oppor- tunities for business diversifica- tion for retailers and manufactur- ers, as evidenced in the number of companies tapping the special- ty market. However, it also pres- ents challenges for traditional retailers and manufacturers. Many new drugs are released in limited drug distribution networks, and many health plans and other payers have created limited specialty pharmacy net- works to help control specialty drug spend. Benefit coverage of specialty drugs is evolving with its own complexities. While some specialty drugs are moving under pharmacy coverage, they remain under medical coverage on some plans, presenting a number of tracking and reimbursement challenges for pharma- cies. This diversity of coverage can result in investigations regarding bene- fits, spawning new exception and recon- ciliation challenges. Benefit design and new specialty tiers come with a much higher patient co-pay or co-insurance, adding patient-assistance programs to the mix. The complexity of the disease state, intense Risk Evaluation Mitigation Strategies programs, unique drug admin- istration requirements, complex therapy regimens and drug toxicities have led pharmacy providers to implement complicated patient-sup- port programs. These programs require extensive reporting back to the payer, the manufacturer and potentially FDA. Managing the complexities of spe- cialty drug business means having the agility to identify and track exceptions, reconcile payments and minimize sales outstanding. Inmar's software-based solutions provide the ability to search and sort exceptions and other unpaid transac- tions by multiple categories, and generate accounts receivable aging reports that aid in the effort to maximize payment within specified timelines that meet your com- pany's objectives. Inmar's solutions allow better focus on managing the fundamentals of your business and keeping forward business momentum while effectively addressing the challenges and costs and new com- plexities that come with growth into this exciting new territory. Visit Inmar at booth #1738. For more information, call 866.440.6917 or go to www.inmar.com. TELEMANAGER TECHNOLOGIES IMPROVES CLOUD CONNECTIVITY TeleManager Technologies, Inc., a leader in cloud-based connectivity solutions for the pharmacy industry since 1997, con- tinues to shepherd the industry to a new standard in communications and infor- mation technology rooted in the cloud. TeleManager offers a complete suite of cloud-based products and services that provide flexibility, scalability and cost efficiency for pharmacies while improv- ing patient adherence and compliance. Last year, TeleManager merged the various components of its iRefill™ Connect suite into a Unified Communication as a Service (UCaaS) solution, allowing voice and data to flow freely between iRefill products and cloud communications services of TeleManager and other providers. The iRefill UCaaS system integrates seam- lessly with iRefill Telecom or any other VoIP or cloud-based phone system, allowing customers the options to add iRefill products to their existing advanced phone systems. To provide the highest level of reliability and scalability, TeleManager runs its iRefill Connect services from HIPAA compliant, tier three Data Center facilities located in two geographically remote areas: New Jersey and Colorado. "Our technology and the innovation that our company provides always excite our customers," said Val Gurovich, TeleManager Technologies President. "We also maintain an in-house customer service department, providing support to our clients 24/7. Our customer service technicians respond to concerns of our customers in a timely manner with the utmost expertise and professionalism. We are very proud of that." The iRefill Connect suite allows pharmacies of any size, from single stores to national chains, to stay current with rapidly evolving communications technology without worrying about the headaches of rede- ployment or the costs of replacing obso- lete hardware and software. "We have created a fully integrated customer experience in the cloud, merg- ing cloud communications, connectivity, mobility and other cloud services on our patented platform," says Gurovich. "We've brought it all together to opti- mize the system by streamlining the pro- ductivity-enhancing features and benefits into our unified communications solu- tion, which pharmacies can easily roll- out and deploy without a massive infra- structure investment." The iRefill Connect suite allows pharmacies to quickly adapt to patient demands by offering the latest flexible and rapidly scalable technological options offered by cloud communica- tions. "To improve compliance and adherence, we pro- vide connectivity options to alert patients about actions they need to take, such as picking up their prescriptions from the store, reminding them to refill their pre- scriptions due or taking their medications at a certain time," Gurovich said. "These solutions include a multitude of different methods and media, like text messaging, which is becoming mainstream, emails or telephone calls. For most applications, we can use multiple connectivity meth- ods." TeleManager continues to evaluate how to improve its cloud-based solutions by implementing the latest and upcoming technologies to its iRefill Connect suite in order to bring its customers the most up-to-date functionality on the market. Visit TeleManager Technologies at booth #2311. For more information, go to www.telemanager.com. BANNER UTILIZES SOFTGEL DELIVERY TECHNOLOGIES OF THE FUTURE Banner Life Sciences™ LLC ("Banner") is dedicated to the research and develop- ment, in-licensing, out-licensing and commercialization of innovative formu- lation technologies, as well as the mar- keting of prescription and over-the- counter proprietary products. Banner is the products and technolo- gies division of DPx Holdings B.V. ("DPx"). DPx is a privately held compa- ny owned by JLL Partners and Royal DSM and corporate parent of a group of business units comprised of Banner, Patheon and DPx Fine Chemicals. With global headquarters in Durham, North Carolina, DPx has a footprint of 24 loca- tions across North America, Europe, Latin America and Australia with more than 8,000 employees. You benefit from the company's unique combination of entrepreneurial flexibility and extensive global resources to meet most any need across the entire product life cycle. As a respected leader in the softgel industry, Banner's global R&D scientists work in state-of-the-art laboratories in the U.S., as well as in Europe, to develop OTC and Rx products combined with the softgel delivery technologies of the future. Banner is focusing on the devel- opment of innovative, patent-pending technologies to address unmet clinical needs across the therapeutic spectrum. Banner utilizes exacting criteria in the development and testing of its Rx and OTC pharmaceutical products. FDA standards are applied to the ana- lytical processes, and the manu- facturing conducted by its affili- ates in Patheon is conducted under the requirements of current good manufacturing practices. Banner's suppliers of raw materi- als must meet stringent quality- testing guidelines for purity and potency. Multiple critical and delicate process parameters are necessary in the production of a robust softgel capsule, and Banner blends the art and science of softgel technology to ensure a quality- consistent manufacturing process used by its affiliates in Patheon. In addition to the considerable experience and fundamental scientific knowledge that is required for the pro- duction of quality pharmaceutical prod- ucts, Banner applies innovation to encapsulation. Because Banner is a drug delivery and development compa- ny, it has created unique tech- nology platforms to enhance the inherent benefits of soft- gels. The softgel technologies include: EnteriCare ® Anti- Reflux Softgels, Versatrol™ Controlled Release Softgels, Chewels ® Chewable Gels, and EcoCaps™ Non-Animal Softgels, Softlet ® Gelcaps, Solvatrol™ Enhancing Solubility and LiquiSoft™ Chewable Liquid Softgels. During the summer of 2015, Banner is proud to launch to market four addi- tional softgel product families including Valproic Acid Capsules, Ethosuximide Capsules, Ergocalciferol (50,000) Vitamin D Capsules and Benzonatate Capsules. For more information, visit booth #902, call 336.812.8700 or go to www .bannerls.com.