Striving to meet increased resource demands with limited resources, partnerships that provide access to tools and expertise can help these leaders address resources gaps in their pharmacy operations, promote efficiency and patient care, and reduce costs.
During a July webinar hosted by Becker’s Hospital Review and sponsored by Comprehensive Pharmacy Services (CPS), four CPS executives discussed the state of hospital pharmacy performance and shared case studies outlining how several partner hospitals leveraged their resources to capture significant cost savings and increase clinical quality.
- David Bono, senior vice president
- Katie Marchionda, senior vice president, clinical services
- John Smith, senior vice president, clinical services
- Patrick Owcarz, senior vice president, pharmacy services
Five key learnings were:
- Hospitals are unique, but often have similar strategic priorities. Mr. Bono said that CPS works with over 800 healthcare facilities, overseeing $3 billion in prescription drug spend. While each of their partners has unique needs, their strategic direction tends to prioritize focus on: 1) increasing quality and operational excellence; 2) increasing quality and operational performance; and 3) maintaining safety and outcomes.
- Conducting an analysis focused on cost savings initiatives, trend analysis, and purchasing optimization can reveal multi-million-dollar financial opportunities. Ms. Marchionda shared a case study of one hospital that uncovered $28 million in savings opportunities through this process. “We reviewed the information with the pharmacy and health system team to establish savings targets and define our proposed timeline,” she explained. “The department’s operational base formulary approval process and implementation procedure was the backbone to the success.” Formulary review committees included systemwide representation to ensure buy-in from all sites; a web-based resource helped expedite the review process. A steering committee and a systems implementation team shepherded recommendation, with an analytics team tracking success and seeking continuous improvement. At the time of the presentation, CPS performance at the site was actually exceeding their $28 million savings projection.
- A dedicated oversight team, evidence-based guidelines, implementation criteria, and mandated use and education all contribute to a successful antimicrobial stewardship program. According to the CDC, between 20 percent and 50 percent of antibiotics prescribed in U.S. acute care hospitals are either unnecessary or inappropriate. “This misuse of antibiotics has contributed to a growing problem of resistance, which is a serious threat to public health and a financial stress to hospitals,” Mr. Smith said. By following regulations of the National Strategy for Combating Antibiotic Resistant Bacteria and the Joint Commission Antimicrobial Stewardship Standard, a CPS partner hospital successfully implemented an antibiotic stewardship program, saving more than $2.3 million in antibiotic spending.
- Four priority areas are critical to a successful drug diversion program: a uniform approach, a focus on patient care and safety, mitigation of financial risk and regulatory compliance. “A collaborative, interdisciplinary team is key to detecting diversion,” Mr. Owcarz said. In two case studies, the establishment of such a team uncovered drug diversions quickly. One hospital conducted four drug diversion investigations within the first year. A task force at another hospital installed cameras in its med rooms within its first six months of focusing on diversion. “Based on statistics, if we’re not identifying diversion, we’re probably missing it,” Mr. Owcarz added.
- Remote order entry services allow staff to extend limited resources and availability and recommit resources to patient care. Mr. Owcarz explained that CPS provides a solution that’s “just a flip of a switch to bring in additional pharmacists.” Telepharmacy provides extra resources during overnight hours or can step in during a pandemic to help during an outbreak. “Telepharmacy helps hospitals increase service levels, maintain order entries and continue clinical interventions,” Mr. Owcarz said. “We really look at telepharmacy as an extension of the inpatient pharmacy.”
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