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In IPD’s latest report and podcast episode, find advanced strategies for pharmacy cost containment to help hospital and health-system budgets stay on target. With tactical insights and real case studies from our hospital experts, IPD can help alleviate the ongoing pressures to improve operating margins amid reduced volume/revenue at some facilities. Throughout the episode, our Executive Clinical Pharmacy team discusses strategies for reducing hospital and health system pharmacy drug expense while also maintaining high-quality patient care in hospital settings, including:
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Main Containment Strategy Categories (01:58)
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Management of New and Innovative Therapies (03:19)
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Case Study – Remdesivir
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Impacts on Outpatient Drugs
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Medical Guidelines, Protocols, and Clinical Criteria for Use (12:00)
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Case Study – Ofrimev
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Dose Alterations – Fixed Dosing, Dose Rounding, Dose Branding, and Renal Dose Adjustments (20:24)
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Key Takeaways (24:04)
IPD'S DRUG & CLINICAL REVIEW:
Advanced Strategies for Cost Containment in
Hospitals and Health System Pharmacies
The advanced strategies are techniques, initiatives, and interventions for managing the use of new and existing formulary items.... I'll start by rolling them up into five main buckets. The first being management of new and innovative therapies. The second being enforcement of medication guidelines, protocols, criteria, or in some cases, restrictions on use, dose alterations; things like fixed dosing, dose rounding, dose banding, renal dose adjustments. Third, and then fourth, clinical conversion to lower-cost medications on a patient-specific basis, versus something that we would do through a normal system of care protocol, policy, etc. And then last but not least, the critically important decentralized clinical pharmacy services, particularly in key areas of impact, like the intensive care unit, the emergency department, surgery, or operating room, etc.