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ShiftRx: Creating Opportunities for Increased Revenue and Better Outcomes
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Lisa Riding, Chief Strategy and Customer Officer, ShiftRx
As progressive technology continues to push the boundaries of patient care amid a radical shift from volume to value, there are several challenges that healthcare providers face. Patients seek more convenient access to healthcare services while payers continue to demand low-cost care settings. To keep pace with these changes and challenges, healthcare organizations need to establish and accelerate the growth of innovative strategies such as ambulatory and specialty pharmacy services. Such services not only create unique opportunities to bring long-term financial and operational benefits but also help deliver a consistent, high-quality patient experience and care continuity that leads to better clinical outcomes. However, many health systems are still in the dark when it comes to realizing the potential benefit of integrating these services. This is where ShiftRx, a national provider of unique pharmacy management solutions comes into the picture. The company’s mission is to “Shift” revenue and patient care back to health systems through the development of ambulatory and specialty pharmacy services. Lisa Riding, chief strategy and customer officer of ShiftRx, says, “In today’s healthcare arena, there is a shortage of health systems that have in-house ambulatory and specialty pharmacy expertise. We fill that void by providing the necessary capital and expertise focused exclusively on growing markets in ambulatory pharmacy, specialty pharmacy, and pharmacy benefits administration.”
ShiftRx excels in helping health systems capture previously unrecognized pharmacy revenue streams by offering a unique combination of partnership models, including capital financing and risk/reward agreements. Their turnkey operations packages offer highly flexible staffing models and comprehensive vendor, IT, and support services management. Through its suite of offerings and deep market expertise, ShiftRx is able to shoulder the daunting tasks associated with navigating the sea of vendors, interface challenges, resellers, and payers.
There is no other organization within the healthcare arena that enables accelerated growth and reclamation of net profits like ShiftRx
Lisa adds, “There is no other organization within the healthcare arena that enables accelerated growth and reclamation of net profits like ShiftRx, and this is the factor that truly differentiates us in the marketplace.” ShiftRx is changing the game by deploying their proprietary tools and methodologies to evaluate, plan, grow, and maintain successful ambulatory pharmacy operations, ultimately transforming that market. They are committed to a 100-percent focus on promoting the health system’s brand to help “Shift” net profits back to the system that had been going to other corporate entities.
“Health systems count on us to provide both short- and long-term pharmacy business strategies and prioritizations,” says Lisa. When a northern California health system wanted to improve their financial performance as well as optimize their patient outcomes, they approached ShiftRx. The client operated and managed five hospitals, four of which were 340B-covered entities. To help them, ShiftRx established ambulatory pharmacies at each site as well as a regional specialty pharmacy that served all five hospitals. The new service line is operational, and the health system has realized over $150 million in incremental pharmacy revenue.
ShiftRx is led by a team of healthcare executives, investors, and high-performance pharmacy leaders who have a proven track record of identifying and realizing opportunities in the transformational growth of the pharmacy sector. As ShiftRx continues to work with health systems to develop and strengthen their ambulatory pharmacy programs, they are looking to help shape the future by developing services for risk and population health management.
ShiftRx has its eyes on the prize: to be the nationally recognized leader in providing ambulatory pharmacy programs that support patient access to drugs, medication adherence, and positive clinical outcomes that shift net profits back to health systems.
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