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Sentara Healthcare, a nonprofit health system serving patients in Virginia and North Carolina, wanted to reduce its drug spend and make its manual drug spend management process more efficient. It was able to achieve both goals with one tool that houses data-rich custom dashboards and reports.
Before Drug Spend Intelligence, we had a limited view into what we were spending. Now we have the power to look at spend across the hospital system to quickly evaluate expense rate and volume variances. This lets us forecast budget and proactively contain costs.
— Eddie Gutshall, Pharm.D., Pharmacy Business Manager, Sentara Healthcare
Sentara Healthcare wanted to reduce its annual $160 million drug spend by 3 to 4 percent — while continuing to provide quality care. In addition, it needed to replace its time-consuming manual drug spend management process with a comprehensive solution that allowed pharmacy leaders to easily collect data and evaluate pharmacy purchases across all facilities.
To solve these challenges, Sentara turned to McKesson Drug Spend IntelligenceTM— a powerful web-based solution featuring rich analytics, a smart dashboard and the ability to create custom reports. In order to meet the health system’s unique needs, McKesson’s Pharmacy Optimization® experts worked closely with Sentara’s pharmacy leaders to add financial metrics including patient days, admissions and service units by month to Drug Spend Intelligence.
After transitioning to McKesson Drug Spend Intelligence, Sentara now has a clear view into its past 24 months of volume-adjusted purchasing data. This easy-to-use solution has also minimized manual work for Sentara’s pharmacy staff, making it easier and faster to analyze drug spend trends and variances while determining drivers of costs. For example, the insight gleaned from Drug Spend Intelligence helped Sentara’s Pharmacy & Therapeutics Committee explore new strategies for containing formulary costs. Tracking a therapeutic drug interchange can easily show comparative upward and downward spend trends and help verify expected outcomes. In addition, Drug Spend Intelligence has equipped Sentara with the information needed to effectively implement, track and measure clinical initiatives like its government-mandated antibiotic stewardship program (called “AMS”). The AMS program includes a program pharmacist, analyst and part-time physician who will continue to collaborate in driving down costs without compromising care.
- Industry News