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McKesson Pharmacy Optimization showcases proven solutions and best practices that improve performance and help shape the future of hospital pharmacy.

American Society of Health-System Pharmacists (ASHP) Midyear Clinical Meeting and Exhibition

With hospital pharmacy leaders under increasing pressure to improve financial performance, increase operational efficiency, and deliver the best clinical outcomes, the McKesson  Pharmacy Optimization team is highlighting its unique solutions that are proven to help hospitals transform their pharmacies into centers of financial, operational, and clinical excellence. These solutions — which have been proven to result in identified savings of 3–6% — provide increased visibility into pharmacy operations and help hospital leadership define and drive the best business and clinical decisions.

As the industry’s most experienced group of pharmacy professionals providing consulting services and pharmacy practice resources, the Pharmacy Optimization team draws on more than 300 years of collective hospital pharmacy expertise and proven best practices to develop customized and quantifiable solutions that help hospitals create and sustain high levels of financial, operational, and clinical results. An accomplished group of pharmacy professionals, team members have been former directors of pharmacy, hospital administrators, or have held clinical pharmacy leadership roles. Many have advanced pharmacy and professional degrees and have completed post-graduate pharmacy residencies and fellowships. Further, Pharmacy Optimization team members are experts in a range of hospital pharmacy issues, including clinical pharmacy practice, pharmacy supply chain management, medication safety, 340B, regulatory and accreditation preparedness, and much more.

HELPING DEFINE THE FUTURE OF HOSPITAL PHARMACY

McKesson has been and continues to be at the forefront of helping hospital pharmacies implement change. Continuing its legacy of setting the standard for pharmacy performance, McKesson has signed on as the exclusive Leadership Supporter for ASHP’s Pharmacy Practice Model Initiative (PPMI). Launched earlier this year, PPMI is the next major step in the evolution of pharmacy practice in hospitals and health systems. As tremendous opportunity still exists to further elevate the role of hospital and health-system pharmacists, McKesson is pleased to support ASHP’s PPMI initiative and provide pharmacists — through the help of the McKesson Pharmacy Optimization team — with the knowledge, tools, and best practices they need to unlock their full potential.

PROVEN WAYS TO DRIVE COST SAVINGS AND GENERATE NEW REVENUE SOURCES

Pharmacy Optimization Consulting Services

Pharmacy Optimization’s team of pharmacy professionals are not only experienced clinicians and hospital pharmacy leaders, they are also experts in financial management. Through a collaborative approach with hospital pharmacy leaders, Pharmacy Optimization provides customized consulting services to identify untapped sources of revenue, obtain meaningful pharmacy cost reductions, extend the capacity of pharmacy, and increase efficiencies.

One priority customer focus addressed by Pharmacy Optimization Consulting Services is 340B. The team’s areas of expertise include guidance for implementing contract pharmacies, employee drug benefits, and mail order options, as well as to optimize 340B opportunities in mixed patient settings.

By helping pharmacies manage, track, and report on the 340B replenishment process, hospitals can maximize 340B program savings while simultaneously enhancing compliance with regulatory requirements. McKesson’s 340B Manager solution is uniquely embedded within its inventory procurement and management application — which provides customers with the most seamless workflow and integrated information possible. With McKesson 340B Manager, hospital pharmacies have been able to achieve up to a 15–30% reduction in outpatient 340B drug spend.

Drug Spend Trend Report

The powerful analytics within McKesson’s Drug Spend Trend Report pinpoint variations in drug costs and uncover opportunities for clinical initiatives to reduce drug  expenditures. The report offers critical analytics and pre-populated graphs, which help hospitals increase control of escalating pharmacy expenses.

The report’s 24 months of volume-adjusted data also measure the financial impact of initiatives and programs. By measuring the financial impact of pharmacy initiatives, hospitals can achieve savings of up to 1.5–3% by streamlining drug formularies, implementing and maximizing clinical initiatives, and optimizing drug purchasing contracts.

McKesson MedSource Medication Assistance Program

As more hospitals struggle with the expenses of caring for the uninsured, McKesson’s MedSource medication assistance program eases the costs of providing this type of care by securing replacement medications for those dispensed to uninsured patients. MedSource has been providing customers with savings for more than eight years with average savings of 1% on drug purchases.

UNIQUE ONLINE REPOSITORY INCREASES EFFICIENCY AND IMPROVES PATIENT CARE

McKesson Pharmacy Central

With McKesson Pharmacy Central, pharmacies can extend staff resources to focus more on patient care activities by identifying opportunities for staff to use best demonstrated pharmacy practice tools, programs, and protocols. Pharmacy Central is the industry’s leading Internet-based resource repository with a depth and breadth of resources and tools for achieving cost-appropriate and -effective drug use, regulatory compliance, and improved medication safety.

The tools are continuously developed and updated by Pharmacy Optimization’s team of pharmacists and ensure that hospital pharmacies have access to clinical protocols and other cost-containment initiatives.

Other resources assist pharmacies in maintaining staff competency, accreditation preparedness, as well as other programs that contribute to improved medication use and patient safety.

Hospitals can help ensure optimal implementation of the rich repository of Pharmacy Central’s best practices by utilizing Pharmacy Optimization’s experienced pharmacists to evaluate pharmacy operations, clinical program participation, and medication use process. Pharmacies that use these resources to stay current with pharmacy practice information can redeploy up to 30% of a clinical pharmacy manager’s time to focus on other activities, including providing more, and better, patient care.

Source: McKesson

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