4 tips for managing drug spend from Alameda Health System's Dr. Yi-Chih Peng

Yi-Chih Peng, PharmD, inpatient pharmacy supervisor at Oakland, Calif.-based Alameda Health System, spoke with Becker's Hospital Review about challenges pharmacy leaders must overcome and a belief in healthcare that needs to be challenged.

Editor's Note: Responses were edited for length and clarity

Question: What are some of the challenges pharmacy leaders must overcome?

Dr. Yi-Chih Peng:  There are several, including managing time and resources while also understanding various regulatory requirements and consensus practices among different surveyors.

Q: When it comes to managing drug spend, what advice would you offer other pharmacy leaders?

YP: Using formulary drug use controls and preventing medication waste. In addition, I would say it is important to stay up to date on drug-pricing projections. Lastly, I would say remain proactive and strategize with the team on any potential medication shortages.

Q:  What is one belief in healthcare that needs to be challenged?

YP: Many people believe that there is adequate resources distribution. I would argue there is not. I think this needs to change.

More articles on pharmacy:
January's first drug price hikes average 6.3%: 5 notes
Judge blocks Trump administration policy cutting drug payments to hospitals
Biosimilars cost up to 80% more in the US than Europe: Here's why

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