Drug cost containment strategies for hospital pharmacy leaders were highlighted at ASHP Midyear

DUBLIN, Ohio, November 27, 2018 / PRNewswire / – At the American Society of Health System Pharmacists (ASHP) Mid-Year Clinical Meeting 2018, Cardinal Health will highlight a holistic approach that addresses the primary concern of hospital pharmacy leaders and of health systems: sustainable cost control.

Attendees can visit Cardinal Health booth, # 1211, to discuss this topic with hospital pharmacy experts at ASHP at Anaheim, California

By taking this holistic approach, hospital pharmacies can achieve savings of 5 percent or more year after year, noted Kathy chase, director of drug cost control services at Cardinal Health. “The role of pharmacy is uniquely placed to support the call of healthcare systems to save money, increase efficiency and promote high quality patient care.

Through its pharmacy services and specialty pharmaceutical distribution businesses, Cardinal Health helps hospitals analyze and compare data to identify hidden savings, improve patient outcomes and increase supply chain efficiency. . Four key stages of this approach will be presented at the biannual ASHP meeting:

  • Implementation of an RFID-enabled consignment model for inventory optimization
  • Leverage and optimize patient assistance programs
  • Continuous analysis of real-time drug spending and usage data
  • Ability to leverage products and services to improve productivity, so resources can focus on patient care and cost control

The healthcare industry is seeing a shift in drug spending, with specialty pharmaceuticals outpacing traditional pharmaceutical growth. Specialty pharmaceuticals pose unique storage, use and cost challenges and often have unpredictable demand. Traditional drugstore cost reduction strategies that focus on managing the purchase price of drugs do not generate the savings needed to offset these pressures.

“The need to identify innovative approaches to control costs and improve quality and outcomes will continue to be a priority, as spending on specialty drugs continues to exceed spending on traditional drugs,” said John kilgour, vice president of acute and alternative care sales for specialty pharmaceutical distribution at Cardinal Health. “With a returnable model, pharmacies can free up locked-in dollars in inventory by paying only for these one-off products once they are used.”

Cardinal Health’s consignment program uses RFID technology to monitor inventory in real time, set parity levels based on actual pharmacy usage, and send alerts for recalled products. It also enables inventory tracking and tracing through a cloud-based platform, allowing healthcare systems to gain real-time visibility into inventory levels from anywhere.

Media: For more information or to speak with an ASHP Hospital Pharmacy Expert, please contact Heather Clark at (614) 757-7680 or [email protected]

About Cardinal Health
Cardinal Health, Inc. is an integrated global healthcare services and products company, providing customized solutions for hospitals, healthcare systems, pharmacies, day surgery centers, clinical laboratories and physician offices around the world. whole. The company provides clinically proven medical products, pharmaceuticals and cost-effective solutions that improve the efficiency of the hospital-to-home supply chain. To help fight prescription drug abuse, the company and its education partners created Generation Rx, a national drug education and awareness program. With nearly 100 years of experience, with approximately 50,000 employees in nearly 46 countries, Cardinal Health ranks # 14 on the Fortune 500. For more information visit cardinalhealth.com, follow @CardinalHealth on Twitter, @cardinalhealthwings on Facebook and connect on LinkedIn at linkedin.com/ company / cardinal-health.

Media: Heather Clark, (614) 757-7689
[email protected]

Cision View original content to download multimedia: http://www.prnewswire.com/news-releases/drug-cost-containment-strategies-for-hospital-pharmacy-leaders-highlighted-at-ashp-midyear-300755333.html

SOURCE Cardinal Health

Comments are closed.