Area of Interest
U.S. deficit and continuing economic issues combined with the impacts of value-based purchasing and increasing penalties mean that, more than ever, your bottom line is under intense, daily scrutiny. Like most every health system nationwide, you are leaving no stone unturned as you seek out ways to contain costs. The average hospital pharmacy budget can be around 10% of the total budget for a healthcare system, making it one of the largest cost centers in your organization. Balancing cost with quality can prove to be a constant challenge.
With our high-touch approach to better business health, our customers have learned that operating a lean pharmacy means more than just cutting cost. It means driving out unnecessary cost with rigorous management of drug spend, recovering lost indigent care product, streamlining 340B programs, making smart purchasing decisions and uncovering often overlooked sources of cash to which you’re entitled. All of this drives the savings needed to reinvest into the hospital business and shore up the bottom line.
Cost Containment News
5 Drug Spending Trends to Watch
Total spending on prescription drugs in the United States on a net price basis is expected to reach up to $400 billion by 2020, a new forecast suggests.
IMS Health recently highlighted factors likely to influence future drug spending patterns in a report called “Medicines Use and Spending in the US: A Review of 2015 and Outlook to 2020.”
Keeping data – and people – healthy
Things have changed quickly and dramatically in the healthcare industry – by necessity. The Affordable Care Act has allowed millions of Americans to gain health insurance. Global health initiatives are also improving health and raising the bar for healthcare around the world.
CVS Health Research Institute Study Demonstrates Impact of Prescription Refill Programs on Medication Adherence
WOONSOCKET, R.I., Nov. 16, 2015 /PRNewswire/ — New research by the CVS Health Research Institute is the first to show the impact of prescription refill programs on medication adherence. The study, published in the American Journal of Managed Care, found that ReadyFill®, the refill program available at CVS/pharmacy®, improved adherence to medications for common chronic conditions without …
U.S. drug benefit managers clamp down on specialty pharmacies
(Reuters) — In recent days, the largest U.S. managers of private prescription drug benefits have cut off at least eight pharmacies that work closely with drugmakers, intensifying scrutiny of a system that helps inflate drug prices, officials at the pharmacy benefit managers told Reuters.
Nearly half of hepatitis C patients on medicaid denied coverage for life-saving drugs
Nearly 50 percent of Medicaid patients infected with chronic hepatitis C whose doctors had prescribed newer, life-saving antiviral drugs were denied coverage to the therapies because they weren’t considered “a medical necessity” or because the patients tested positive for alcohol/drugs, among other reasons, according to new research.
Blues of North Dakota worried about cost of specialty drugs
BISMARCK, N.D. (AP) – Prescription drugs account for 21 percent of North Dakota’s largest insurance provider’s health care spending. Following the national trend, 15 percent of that drug spending is experiencing a high inflation rate, increasing already high health care costs. “When the cost of prescription drugs increases, those costs …
OneStop Acute Care Generics
McKesson OneStop Generics® delivers competitive pricing and industry-leading service levels on generic drugs from one timesaving source. Our expert product sourcing means you get the product you need, when you need it, with fewer shortages. Learn More »
Drug spend analysis
Successfully managing a health system pharmacy’s drug spend requires having a clear view into purchasing history and spending trends. While most hospital pharmacies have access to 80/20 or similar reports, only McKesson’s Drug Spend Intelligence robust online tool allows customers to easily identify and track clinical initiatives that reduce drug spend, while saving them valuable time. Learn More »
Patient assistance program recovery
Through McKesson’s MedSource® program, hospitals can use pharmaceutical manufacturer patient assistance programs to help replace drugs and medical devices dispensed or administered to low-income, uninsured and underinsured patients. Working directly with manufacturers, MedSource managers leverage proprietary software and tools for tracking, reporting and troubleshooting, ensuring successful patient enrollment in each patient assistance program and subsequent approval and replacement of eligible products provided. Learn More »
- Industry News