Industry Recognition Highlights Texas Oncology’s Integrated Pharmacy Approach to Attain Better Patient Outcomes and Lower Costs
DALLAS (May 7, 2018) — Texas Oncology, a practice in The US Oncology Network (The Network), received a 2018 Excellence Award from Pharmacy Benefit Management Institute® (PBMI) for its Medically Integrated Pharmacy Management (MIPM) approach to achieve better results in cancer care. The MIPM model includes a team of board-certified oncologists, as well as other healthcare professionals, to deliver patient-focused solutions that drive industry-leading outcomes and contain costs.
Oral chemotherapy is increasingly important in cancer care with more than 70 FDA-approved oral chemotherapy cancer drugs. Additionally, an estimated 35 percent of new drugs by pharmaceutical manufacturers are oral drugs. Adherence to patient oral medications, therefore, is vital to successful cancer care. The national average for adherence to oncology medications is below 70 percent, but the weighted average is 96 percent for patients managed by Texas Oncology’s medically integrated pharmacy team. Furthermore, the Congressional Budget Office estimates that for every five-percentage point increase in adherence (measured by number of prescriptions), total medical costs decline by one percent.
“A medically integrated care approach with physicians, nurses, pharmacists, nutritionists, and financial counselors working together improves patient experiences and compliance while reducing costs from less waste, fewer side effects, and fewer hospitalizations,” said Jim Schwartz, executive director, pharmacy operations, Texas Oncology Pharmacy. “We are grateful for this award and for our amazing team members who provide active, patient-centered care throughout the treatment process.”
“The PBMI award reflects years of work from our dedicated Texas Oncology team,” said Steve Paulson, M.D., president and chairman of the Board, Texas Oncology. “With the help and shared knowledge gained from our peers within Texas Oncology and support from The US Oncology Network, we are improving patient adherence and lowering medical costs – particularly in oral chemotherapy.”
“The PBMI Excellence award is outstanding recognition of Texas Oncology’s leadership in advancing the Medically Integrated Pharmacy Management model,” said John Priskorn, vice president of self-administered products and services for McKesson Specialty Health, which supports The Network. “Texas Oncology’s results demonstrate that this patient-centric model is highly effective and represents a compelling vision for the future of community-based cancer care. We are proud of the Texas Oncology team, and it is a privilege to provide operational and clinical support to their medically integrated pharmacies.”
About Texas Oncology
As an independent oncology practice with more than 420 physicians and 175 locations, Texas Oncology’s community-based care offers patients high-quality cancer care without compromise, including access to leading-edge technology, advanced treatment options, and access to clinical trials. As a primary participant in US Oncology Research, Texas Oncology played a role in more than 70 FDA-approved therapies, about one-third of all cancer therapies approved by the agency to date.
Texas Center for Proton Therapy, Texas Breast Specialists, and Texas Center for Interventional Surgery are part of Texas Oncology. Texas Oncology is a member of The US Oncology Network, one of the nation’s largest community-based cancer treatment and research networks. For more information, visit www.TexasOncology.com.
About The US Oncology Network
Every day, The US Oncology Network (The Network) helps more than 1,400 independent physicians deliver value-based, integrated care for patients — close to home. Through The Network, these independent doctors come together to form a community of shared expertise and resources dedicated to advancing local cancer care and to delivering better patient outcomes. The Network provides doctors with access to coordinated resources, best business practices, and the experience, infrastructure and support of McKesson Specialty Health. This collaboration allows the doctors in The Network to focus on the health of their patients, while McKesson focuses on the health of their practices. Together, The Network and its affiliated physicians are committed to the success of independent practices, everywhere. For more information, visit http://www.usoncology.com/.