Clearway Health Unveils New Strategies to Combat Rising Hospital Costs

Clearway Health, a recognized leader in specialty pharmacy services, has announced a series of proactive initiatives aimed at alleviating the financial burdens faced by hospitals and health systems. In light of the evolving healthcare landscape, particularly the impacts of the One Big Beautiful Bill Act and the Inflation Reduction Act (IRA), as well as the new 340B Rebate Model program, the company is committed to helping its hospital partners navigate these challenges.

Addressing Operational Needs with Tailored Strategies

To respond to the rising operating expenses due to new legislation, Clearway Health has mobilized a dedicated team of regulatory and operational experts. Their goal is to understand and manage the anticipated financial implications of the recent laws affecting hospital operations. Each initiative is customized to meet the specific requirements of their clients, ensuring compliance while optimizing program performance. Clearway Health’s commitment is evident through their additional support services, including webinars, regular updates, and educational resources that focus on the HRSA rebate model and IRA impacts.

Nicole Faucher, the president of Clearway Health, expressed confidence in their recent expansions, stating, "This year, we have partnered with numerous new hospitals, initiated the opening of two new specialty pharmacies, and are in the process of launching four more by next year. Our initiatives are pivotal for hospitals as they strive to maintain patient access to life-saving medications amidst these legislative changes."

Enhancing Access to Medications

Clearway Health has made significant investments aimed at improving access to limited distribution medications and challenging payer networks. This strategic approach is crucial, as navigating through complex payer requirements is essential for enhancing the financial performance of hospitals. The company focuses on aligning clinical performance standards, operational excellence, data reporting, specialty pharmacy accreditation, and negotiating favorable contracts. These efforts are vital for ensuring hospitals can effectively provide necessary medications to patients.

Introducing Innovative Clinical Programs

Alongside operational support, Clearway Health has expanded its clinical services programs by introducing disease-specific initiatives. For instance, they launched a Chronic Obstructive Pulmonary Disease (COPD) and therapy optimization program that aligns with the approval of dupilumab, a biologic for COPD, earlier in September 2024. Furthermore, the company introduced a pharmacist-supported program aimed at accelerating diagnosis and treatment for patients at risk of Transthyretin Amyloid Cardiomyopathy (ATTR-CM). These innovative models utilize data-driven screenings and enhance patient engagement, thus expediting diagnosis and treatment initiation, ultimately improving healthcare outcomes.

Focus on Patient Management and Analytics

Clearway Health is also amplifying its commitment to providing outpatient pharmacy services through advanced technology solutions. They recently unveiled a client-facing performance dashboard integrated within its proprietary patient management software, known as Charter. This tool addresses the specific needs of specialty pharmacy programs, enabling hospitals to analyze performance metrics such as revenue, adherence rates, patient engagement, and medication management.

Moreover, Clearway Health has reinforced the capabilities of its Analytics Tool, a secure web-based platform that streamlines the analysis of Electronic Health Records (EHR) and pharmacy data. With this tool, hospitals can securely upload their data, facilitating a quick evaluation process to highlight areas ripe for growth and improvement.

Looking Towards the Future

As Clearway Health celebrates its anniversary in October, they reflect on their substantial growth and the positive impacts they have achieved in enhancing access to specialty medications. Nicole Faucher concluded, "As we progress into the future, our focus remains on assisting hospitals in overcoming financial pressures due to increased operating costs and the evolving legislative landscape. The initiatives we have rolled out will continuously adapt and grow, significantly aiding in providing affordable medication access."

With a legacy rooted in improving patient care and operational excellence, Clearway Health is on a mission to transform specialty pharmacy services, ensuring every patient receives the medications they deserve. To learn more about their services, visit Clearway Health.