• COVID-19
  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • Artificial Intelligence
    • Blockchain
    • Mobile Health
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Shields Health Solutions, ExceleraRx Announce Specialty Pharmacy Merger – M&A

by Jasmine Pennic 01/12/2021 Leave a Comment

Shields Health Solutions, ExceleraRx Announce Specialty Pharmacy Merger – M&A

What You Should Know:

– Shields Health Solutions and Excelera announce a major specialty pharmacy merger that will form a combined company that consults with 700+ hospitals in 43 states, including Mass General Brigham, Yale New Haven, Intermountain Healthcare and Henry Ford.

– The network of hospitals is designed to improve patient care through an infrastructure that helps with things like acquiring prior authorization for specialty drugs and staying adherent to them. It can also lower costs for patients by negotiating lower rates from manufacturers with the leverage of insights from 1 million+ patients in those hospitals.


Shields Health Solutions (Shields), the leading health system specialty pharmacy integrator, has joined forces with ExceleraRx Corp. (Excelera), a healthcare company that empowers integrated delivery networks, health systems, and academic medical centers to provide personalized, integrated care for patients with complex and chronic conditions focused on improving patient care. 

Merger Reflects Growing Need for On-Site, Integrated Specialty Pharmacies

Serving 60+ health systems and academic medical centers, the combined organization addresses 700+ hospitals that account for the opportunity of $30B in specialty pharmacy revenue. The use of specialty medications to treat complex patients – those with multiple, chronic illnesses or rare, hard to treat diseases that require close monitoring and support – is increasing an average of 17 percent per year, and health systems across the U.S. have been building on-site, integrated specialty pharmacies to provide comprehensive, streamlined care for this growing population to improve outcomes. Since 2015, the prevalence of health system-owned specialty pharmacies in large hospitals has doubled, with nearly 90 percent of large hospitals operating a specialty pharmacy in 2019.

“On-site, integrated specialty pharmacy is the future of complex patient care and we look forward to combining forces with Excelera to make our impact even greater. As we have shown, this model materially improves clinical outcomes for patients and reduces total medical expenses for covered patients,” said Lee Cooper, CEO, Shields. “Together, our network of more than 60 of the country’s top health systems, representing nearly 30% of non-profit healthcare systems based on net patient service revenues, creates an unparalleled industry-first that will enable unprecedented best practice sharing and ultimately lead to improved outcomes for complex patients.”

Benefits of On-Site, Integrated Specialty Pharmacies for Health Systems

Shields and Excelera offer programs for health systems to build, operationalize and optimize integrated specialty pharmacies, as well as help manufacturers and payors access critical patient and drug performance insights. With a more personalized, high-touch approach to patient care, Shields and Excelera have found that hospital-owned specialty pharmacies dramatically simplify medication and care management for patients and can:

– Reduce medication co-payments from hundreds, sometimes thousands of dollars, to an average co-pay of $10

– Streamline time-to-therapy, typically from several weeks to an average of two days

– Decrease physician administrative paperwork by thousands of hours

– Improve medication adherence rates to over 90 percent, on average.

Financial details of the acquisition were not disclosed.

RELATED:   Modernizing Medicine Acquires Orthopedic EHR Platform Exscribe – M&A

Tagged With: care management, Health Systems, Healthcare Mergers & Acquisitions, Henry Ford, integrated care, Intermountain Healthcare, medication, Medication Adherence, model, Patient Care, Pharmacy

[ultimatesocial networks="facebook,twitter,google,linkedin,mail" url="" custom_class="us-posts-bottom" align="left" count="false"]

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

« Central Logic Acquires Acuity Link for Intelligent Transport Capabilities – M&A
CVS Health to Provide In-Home Chemotherapy with Cancer Treatment Centers of America »

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Recent Articles

  • Hurdle Secures $5M for Digital Mental Health Platform for People of Color

    Hurdle Secures $5M for Digital Mental Health Platform for People of Color

    ... more
  • West Virginia Launches Nation’s First Statewide COVID-19 Vaccine Distribution Deployment

    West Virginia Launches Nation’s First Statewide COVID-19 Vaccine Distribution

    ... more
  • Onyx, AMA Innovations Form Collaboration to Build FHIR-Based Messaging

    Onyx, AMA Innovations Form Collaboration to Build FHIR-Based Messaging

    ... more
  • op 5 business opportunities for digital health companies in 2021. Where is the money?

    Top 5 Business Opportunities for Digital Health Companies in 2021. Where Is The Money?

    ... more

Most Read

  • 30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021 30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021
  • Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results
  • 20 COVID-19 Predictions and Trends for 2021 - Executive Roundup 20 COVID-19 Predictions and Trends for 2021 – Executive Roundup
  • 16 COVID-19 Predictions and Trends for 2021 Executive Roundup 12-Available-COVID-19-Vaccine-Management-Solutions-to-Know-In-Depth-1 22 Recently Launched COVID-19 Vaccine Management Solutions to Know
  • Job Titles for Healthcare Executives The Top 9 Most In-Demand Medical Jobs
  • FDA Approves COVID-19 Oral Fluid Test for Use Nationwide In-Depth: 32 FDA-Approved COVID-19 Testing Kits
  • Fundamental Surgery Becomes First VR Surgical Training Simulation to Gain CPD Accreditation 18 Healthcare Augmented Reality and Virtual Reality Companies to Watch
  • West Virginia Launches Nation’s First Statewide COVID-19 Vaccine Distribution Deployment West Virginia Launches Nation’s First Statewide COVID-19 Vaccine Distribution
  • CVS Health Launches Senior Medical Alert System, Symphony CVS Health Launches Senior Medical Alert System, Symphony
  • op 5 business opportunities for digital health companies in 2021. Where is the money? Top 5 Business Opportunities for Digital Health Companies in 2021. Where Is The Money?

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • 2020 Editorial Calendar
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2021. HIT Consultant Media. All Rights Reserved. Privacy Policy |