Reducing costs while simultaneously improving quality and freeing up pharmacy staff time seems like an impossible task, but it’s not
Hospital reimbursements are shrinking every day, and administrators are constantly searching for ways to tighten their fiscal belts. This means that pharmacy directors are forced to take a critical look at every phase of their pharmacy department including: drug costs, personnel and processes.
In general, hospital profit margins have rarely exceeded three percent (3%) and are experiencing constant downward pressure from multiple outside sources. However, pharmacy directors must consider the impact of any cuts on medication safety, clinical programs, patient care and overall quality initiatives. How can the director of pharmacy reduce drug costs, free up valuable pharmacy personnel resources and improve medication safety?
Unit-dose packaging service streamlines existing processes
Unit-dose packaging is a necessary process in every hospital pharmacy, but it is not a core competency. Pharmacies package in-house not because they want to, but because they have to. Pharmacy directors have a proven option to reduce in-house unit-dose packaging workload, while improving quality and reducing packaging costs… Safecor Health.
Safecor Health is fully integrated into the pharmacy supply chain. Using a wholesaler bill to/ship to account, the pharmacy orders those products it wants Safecor Health to repackage directly from their wholesaler, using their GPO pricing. The wholesaler delivers the bulk product to Safecor Health. After repackaging the product according to hospital specifications, Safecor Health ships the drugs to the hospital.
Leveraging the Safecor Health relationship can reduce drug costs
Many hospital pharmacies purchase what is available in commercial unit-dose and package only those products that are not available. The primary goal is to keep in-house packaging needs to a minimum. That strategy makes sense if your pharmacy staff is doing the packaging in-house. Pharmacy directors can now leverage Safecor Health’s packaging services and strategically take advantage of the cost savings between commercial unit-dose and bulk drugs. Safecor Health can help hospital directors identify those products that are less expensive in bulk, even with Safecor Health packaging fees factored in. One 400 bed hospital pharmacy reduced their drug costs by over $70,000 annually by implementing Safecor Health’s packaging strategies.
Better packaging practices can be a primary driver of improved medication safety
Hospital pharmacy packaging practices vary widely from facility to facility with little to no standardized practice in the industry. This can create the opportunity for packaging errors which could negatively affect patient safety. As an FDA registered repackaging company, Safecor Health not only complies with current Good Manufacturing Practices (cGMP) but also FDA guidelines, USP, ISMP and many other requirements. This creates an environment of excellence and quality that translates into improved medication safety through better packaging practices.