FOR RELEASE: March 16, 2020
CONTACT: Rod Recor
Comprehensive Pharmacy Services Leader Launches SPARx with Expanded Specialty Pharmacy Solutions
Memphis, TN – Comprehensive Pharmacy Services, LLC (CPS), one of the nation’s largest pharmacy services providers, continues to lead the industry with specialty pharmacy and ambulatory solutions that meet the rapidly changing needs of hospitals and health systems. SPARx is a specialty pharmacy solution that supports hospitals and health systems as demand for specialty medications for patients with chronic, complex diseases continues to escalate.
“As a pioneer in specialty pharmacy solutions, we speak to hundreds of hospital executives across the country on a regular basis,” said Keith Cook, President of Specialty Pharmacy Ambulatory and Retail Pharmacy - SPARx. “Those conversations have informed and shaped our expanded SPARx offering that addresses the challenges, trends and problems that today’s hospital executives are trying to solve.”
In the era of value-based care, health systems and hospitals face a host of unique challenges, including finding new sources of revenue, retaining and growing the patient base and improving patient care outcomes. Providing specialty pharmacy services to patients who need those medications allows healthcare organizations to benefit from additional revenues generated from specialty drugs and improved care for patients requiring them.
“By partnering with SPARx, the healthcare organization owns the specialty pharmacy and the revenue stream,” said Jeff Foreman, R.Ph., Group President for CPS. “We will drive access to limited distribution drugs, enhance payer access and help manage the complex administrative and accreditation challenges that come with specialty pharmacy so healthcare organizations can benefit from higher clinical quality, new sources of revenue and the ability to maintain continuity of care.”
SPARx is a complete specialty pharmacy solution that covers:
- Retail Pharmacy
- Turnkey Specialty Pharmacy – with specialty patient management powered by advanced software technology
- Infusion Services
SPARx has a unique execution strategy that adapts to the needs of each hospital or health system, including:
- Strategy – We analyze opportunity, assess payer mix and 340B to craft your specialty pharmacy strategy.
- Design – We create a facility plan incorporating your existing retail pharmacy or new build-out and oversee its construction, communications center, IT and telepharmacy operations.
- Operations – We review all retail pharmacy functions, hire and train a team, integrate with the existing patient care team, create marketing solutions and provide patient care services.
- Growth – We facilitate your ability to obtain dual accreditation and advise on your compliance matters within nine months of the go-live date, provide intelligence regarding the specialty business, drive payer contracting solutions and interface with drug manufacturers regarding limited distribution treatments.
“We provide the support to help hospitals and health systems successfully navigate the complex high-risk specialty pharmacy sector,” said Frank Segrave, Chairman and CEO of CPS. “SPARx is a complete enterprise solution that looks forward in time to where healthcare trends are going, not just where we are today.”
About Comprehensive Pharmacy Services
Founded nearly 50 years ago and employing over 2,500 pharmacy professionals, Comprehensive Pharmacy Services, LLC is one of the nation’s largest providers of pharmacy services to more than 800 hospitals and healthcare facilities nationwide. CPS helps their clients tackle complex problems such as rising 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 cpspharm.com.