Alarming Statistics About Drug Shortages
Pharmacists play a vital role in the health and wellness space. Tens of millions of Americans require prescription drugs to manage chronic diseases or improve unpleasant symptoms. Sometimes, manufacturers are unable to keep up with this demand, leading to drug shortages. Statistics show that there are a record number of active drug shortages, with pharmacies struggling to acquire over 200 unique medications. Injectable drugs make up 50% of these shortages, with some averaging 4 years. There are also shortages of unique prescription drugs, with hundreds of ingredients unavailable or in low supply. Most drug shortages are due to manufacturing issues, supply chain challenges, or discontinuations, which trickle down to pharmacies and patients. By utilizing compounding, pharmacies can circumvent some of these challenges while still serving patients.
Why drug shortages impact everyone
Patients and pharmacists are negatively impacted by drug shortages. Patients require prescriptions to maintain effective therapy. If local pharmacies fail to provide medication, patients can disrupt treatment, leading to poor health outcomes. There is a higher out-of-pocket cost and more time needed to source medication, leading to stress and anxiety. Some patients have no choice but to switch medications, which can have serious side effects. Pharmacies that fail to provide medication due to shortages lose vital business and must manage patient dissatisfaction. There is an increased workload to find alternatives to patients, which could have an impact on inventory management. While the impact is significant, there are ways to deal with low supply, including compounding.
Fighting back with compounding
Pharmacists can use compounding to address drug shortages. Compounding is the process of creating a new custom solution using raw ingredients. Pharmacists skilled in compounding have a deep understanding of drugs and raw ingredients and can replicate drugs on the market. Compounding can also combine multiple drugs into a single form, avoiding polypharmacy. Even with drug and ingredient shortages, compounding helps pharmacies be creative, supplying patients with essential medication. Compounding also customizes further to meet unique patient needs.
Benefits of compounding
Compounding offers a solution so that drug shortages can be managed or worked around, maintaining continuity of care. Pharmacists can create a solution with available active ingredients that can work in place of the drug in low supply. Another benefit of compounding is that patients can get a custom, off-label option at a specific dose, which meets prescription needs while minimizing side effects. Compounding also goes a step further by changing the form. If patients desire liquid or topical forms, pharmacists can alter the drug accordingly. Pharmacists can source bulk compounding ingredients from alternative sources, even procuring ingredients that large manufacturers cannot access. As a result, these specialty pharmacies can recreate drugs on the shortage list or that are no longer manufactured.
Business benefits for pharmacies
Patients can benefit from compounding by receiving custom drugs that are easier to take without worrying about shortages. Pharmacies can also become the go-to option for specific medications, increasing demand and revenue. Compounding pharmacies go the extra mile for customers by creating custom solutions that enhance patient loyalty and strengthen relationships. Doctors and patients alike will trust and seek out compounding pharmacies as a resource for providing discontinued drugs or those in low supply. Addressing drug shortages also means managing inventory, which can be optimized to minimize out-of-stock occurrences.
Fill the gap and fight drug shortages
Drug shortages place significant strain on patients and pharmacies. With hundreds of medicines in low supply, some patients struggle to get treatment while pharmacies lose vital business. Compounding helps pharmacies to create alternatives that can still meet patient needs. Using ethically sourced, alternative ingredients, a custom drug helps pharmacies meet demand. Patients can also continue treatment. Consider investing in a compounding solution if drug shortages continue to negatively affect patient care.
