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University of Louisville Hospital and Comprehensive Pharmacy Services Partner to Deliver Game-Changing Specialty Pharmacy Services
CPS Ambulatory and Specialty Pharmacy helps University of Louisville Hospital expand services to patients with complex chronic disease
MEMPHIS, Tenn. and LOUISVILLE, Ky., May 07, 2018 (GLOBE NEWSWIRE) -- The University of Louisville Hospital, a nationally recognized metropolitan research university, and Comprehensive Pharmacy Services (CPS), the nation’s leading provider of pharmacy services for hospitals and health systems, announced today that they have signed an agreement to design, build and manage specialty pharmacy services for the University of Louisville Hospital (UofL). CPS Ambulatory and Specialty Pharmacy Solutions assists hospital pharmacies across the country in meeting the growing demand for specialty drugs, navigating the complexities of ambulatory pharmacy services and delivering better care to patients requiring specialty medications.
“We couldn’t be more excited about this partnership with CPS,” said Ken Marshall, CEO of UofL Hospital. “Together we are on track to create a hospital-owned specialty pharmacy that provides the highest level of quality care to our patients across the multiple hospital facilities on our campus.”
Even though less than two percent of patients require these drugs, by 2020 specialty medications are projected to represent more than 50 percent of medication expenditures, topping $400 billion.
As the need for specialty medications continues to escalate, health systems and hospitals are looking to CPS Ambulatory and Specialty Pharmacy Solutions to help build or expand existing specialty pharmacy services in order to effectively treat and coordinate care services for patients with complex chronic diseases. The CPS model, where the hospital owns the pharmacy but can rely in whole or in part on CPS’ expert team, allows the hospital to benefit from significant additional revenues and improved patient care and lower overall costs. CPS brings a deep and broad level of expertise to the entire process, including:
- Drafting a specialty pharmacy strategy;
- Designing the specialty pharmacy space;
- Implementing the infrastructure;
- Obtaining accreditations;
- Eliminating issues related to limited distribution drugs and payors;
- Training staff;
- Managing the facility going forward.
“The need for specialty drugs is placing greater demands on hospital pharmacies than we’ve ever seen,” said Jody Miller, President, Ambulatory and Specialty Pharmacy Solutions for CPS, who has been leading specialty pharmacy for a decade. “We work hand-in-hand with hospital pharmacy leaders to create custom solutions that fit the unique needs of each pharmacy. Our goal is to establish a best-in-class specialty pharmacy that drives improved patient care and higher revenues while reducing the total cost of care.”
About The University of Louisville Hospital
UofL Hospital, an academic teaching and research hospital, is at the heart of the Louisville Metro area in downtown Louisville. UofL Hospital offers a second-to-none cancer center, world-renowned trauma team and a uniquely streamlined, nationally accredited stroke center – the latest innovations in a history of world-class care.
UofL Hospital is the only Level I Trauma Center in the region. The Trauma Center admits more than 3,000 patients each year, including 1,500 patients a year who live outside Jefferson County and its surrounding counties -- making it a resource not only for Louisville residents, but also for people throughout Kentuckiana. Included within the trauma care provided at UofL Hospital is a comprehensive burn unit. With the only adult burn unit in the region, all of the Trauma Center surgeons and burn unit nurses are specially trained in treating burn injuries. For more information, visit https://uoflhospital.org/
About Comprehensive Pharmacy Services
Founded nearly 50 years ago and employing over 2,500 pharmacy professionals, Comprehensive Pharmacy Services is the nation’s largest provider of pharmacy services to more than 800 hospitals and healthcare facilities. CPS helps their clients tackle complex problems such as hyper-inflated drug costs, specialty pharmacy, ambulatory/retail strategy, operational effectiveness and staffing efficiency. In addition, they address 340B programs, a variety of compliance concerns, and much more. CPS helps pharmacy leaders drive cost, quality and safety improvements across the continuum of care. For more information, visit http://www.cpspharm.com.
CONTACT: Rod Recor