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.

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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.

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Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

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