Why pharmacies need support
The drastically changing healthcare market has put hospitals and health systems under immense pressure. Significant reductions in operating cost are necessary to balance cuts in reimbursement, declining admissions, and care shifts to lower-cost settings. Additionally, leaders must allocate staff appropriately to achieve new standards and metrics for mortality, readmissions and patient satisfaction.
Just as value-based purchasing is changing business models, health system leaders are also changing the way clinical resources are being utilized in order to drive better outcomes. This includes the significant untapped value within the pharmacy to improve care delivery.
However, to help ensure your pharmacy is a center of care rather than cost, there are three critical areas each pharmacy must consider: rigorous financial performance, employee collaboration for operational efficiency, and integration of critical technology systems.
How McKesson delivers
Pharmacy can represent as much as 10% of a total hospital budget. When it comes to managing it, you need a partner that is 100% dedicated to better business health for your pharmacy.
McKesson is a leader in the development of timely and relevant solutions to help customers improve financial performance, increase operational efficiency and strategically use integrated technology solutions.
What you can expect
McKesson’s approach is grounded in three core principles – improving financial performance, demonstrating greater operational efficiency and helping better integrate technology.
Improved Financial Performance
Not only do you need to contain costs; it’s also critical that you are capturing all the reimbursement dollars to which you are entitled. Additionally, you may be seeking out new sources of revenue to offset losses. We’ve designed evidence-based programs, products and services that help contain costs and improve the bottom line.
Better business health begins with financial resources to help you support the hospital’s bottom line.
- Drug spend analysis - Drug Spend Intelligence
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.
- Patient assistance program recovery - MedSource
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.
Whether you are just starting out with the 340B program or want to optimize your participation, our consultant experts are ready to help you better manage and enhance pharmacy services critical to your most vulnerable patients.
- Revenue solutions consulting
McKesson Pharmacy Revenue Solutions™ provides high-touch expert consultants and services that carefully scrutinize the outpatient pharmacy revenue cycle to uncover common sources of pharmacy revenue leakage. The team works with you to identify new or missing charges for reimbursement recovery, then delivers a detailed analysis to support improved revenue for your pharmacy.
- Specialty pharmacy
Balancing supply with demand in the fast-growing specialty market consumes valuable time and resources. On top of that, specialty products are critical and expensive. With McKesson, you can combine your specialty and pharmaceutical purchasing under a single source from an industry-leading distributor. We provide not only superior distribution, but also technology, clinical and educational solutions that help maximize efficiencies and reduce administrative burden.
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.
- Ambulatory pharmacy consulting
Providing ambulatory pharmacy services can strengthen patient relationships, help reduce readmissions, extend the continuum of care and raise the value of your pharmacy as a strategic asset. Our experienced pharmacy consultants work side-by-side with you to help build business plans, prepare for regulatory requirements, prepare your pharmacy infrastructure, and optimize your inventory management and technology.
Greater Operational Efficiency
The goal in creating greater efficiency is to allow pharmacists to spend more time on direct patient care and drug therapy management across the continuum of care. These efforts support the entire health system in adapting to and succeeding in a value-based environment. We’ve developed numerous solutions that deliver measurable, time-saving results for customers each day.
By implementing solutions to generate pharmacy efficiency, you can redirect clinical staff to support patient care.
- SKY Unit-dose barcode packaging management
McKesson delivers a one-of-a-kind, comprehensive solution to unit-dose barcode packaging management. Combining proprietary, patent-pending analytics, dedicated consulting expertise, and a total repackaging solution for oral medications, we collaborate with you to design and deliver a turnkey solution tailored to optimize your pharmacy resources. Additionally, SKY Unit-Dose Packaging offers blister-format packaging containing the most widely prescribed dosages and strengths in generic oral solid medications used by acute care, long-term care and institutional pharmacies. Products are available in 100-dose and 750-dose sizes.
- Process improvement consulting
Through the use of Six Sigma, hospitals can create a culture of collaboration, engaging employees in improving processes and enhancing collective intelligence so they can better serve patient needs. McKesson Black Belts and Green Belts bring a deep knowledge of pharmaceutical supply chain operations to help hospital pharmacies identify, quantify and capture opportunities for operational improvement.
- Supply chain management consulting
Utilizing data analytics and extensive assessments, our supply chain specialists can help you strengthen your procurement procedures, reduce waste, recommend cost savings opportunities, tighten inventory control and implement Lean supply chain strategies.
- Inventory management – Asset Management program
McKesson’s exclusive Asset Management program is designed to help you draw upon our expertise in inventory and purchasing management. The program uses McKesson Connect℠, McKesson’s online order management system, paired with Mobile Manager 100℠ or Mobile Manager 25℠ mobile computing to apply analytics to identify and focus buyers’ time on “A items,” capitalize on purchase history trends to guide ordering, maximize contract compliance, and minimize labor spent on ordering.
- Inventory management – Lynx Mobile for specialty clinics
Lynx Mobile® is the leading 100% web-based inventory management system for outpatient oncology. Its intuitive technology is designed to help cancer centers reduce pharmaceutical inventory and increase cash flow, improve workflow efficiencies and drive revenue by capturing all drug charges. Health systems can easily track, view and manage drug inventory for outpatient specialty facilities across all locations through the integration with McKesson Connect℠, McKesson’s premier ordering platform.
Better Technology Integration
Integrating technology across the healthcare organization is pivotal to better data transparency, reduction of manual complexities and better communication across departments. We support these needs by integrating technology for seamless ordering and automation restocking, 340B program management, improved billing accuracy and more.
Integrating technology supports a positive return on your investments through intelligent ordering, seamless data transfers and more.
- 340B software - 340B Architect
User-friendly yet sophisticated, 340B Architect℠ was designed to help you maximize your program participation and maintain regulatory compliance. Among the many features, it manages dispensing in hospital and retail contract pharmacy settings on one platform, automates CDM/NDC maintenance, and provides detailed NDC and patient-level tracking and audit trails.
- Automated cabinet replenishment
Fulfill-Rx℠ software provides a two-way electronic data interchange between McKesson’s pharmaceutical eCommerce site, McKesson Connect, and Aesynt hospital automation solutions. This helps you expedite ordering and synchronize key formulary information, as well as maximize GPO compliance and rebates. Complete inventory valuation is calculated with the touch of a button. With its barcode-driven processes, Fulfill-Rx also helps reduce order receipt and restocking time and supports a more efficient and automated order flow.
- Real-time NDC integration
McKesson Connect Link software connects your Horizon Meds Manager™ or Paragon systems with the real-time NDC information found within McKesson Connect. By integrating these two systems into your workflow, you can facilitate barcode accuracy for Horizon Admin-Rx and increase scan rates, streamline NDC billing accuracy and improve revenue capture, and search pricing updates and detect contract pricing errors.
- Outpatient workflow and automation
EnterpriseRx® is a centrally hosted pharmacy-management solution that fully integrates all resources and information across your entire enterprise. It’s safe, it’s secure, it’s fast — and it’s HL7 enabled. EnterpriseRx will help you maximize profits by integrating and sharing information across your entire health system, administration and physician practices. McKesson High-Volume Solutions offers flexible solutions that are easy to install, easy to use, and proven to drive operational excellence, cost savings and labor efficiency for pharmacies of all sizes.
- Pharmacy management and CPOE software
Paragon® Pharmacy Management provides a flexible pharmacy-management system designed to help maximize productivity and facilitate a safe medication environment. As part of the Paragon HIS, it provides seamless integration with other Paragon clinical and financial applications, sharing consistent and accurate information with all healthcare providers within the hospital. Our Paragon® Computerized Physician Order Entry (CPOE) module is the order entry component of the Paragon HIS that provides physicians with order entry and clinical decision support (CDS) from anywhere and at any time. Accessible order entry launching points provide clearly defined, orderable choices including pharmacy, diagnostic, dietary, nursing care and more.
- Revenue cycle management
Every day across America, more than 2,000 hospitals and health systems rely on RelayHealth® to help them process over 5 million patient claims, worth over $1.1 trillion annually. Our suite of technology and services enable successful implementation of cash flow improvement strategies such as improving collectability, speeding reimbursement, finding new operational efficiencies and utilizing actionable data to accelerate the revenue cycle. Our broad array of revenue cycle management solutions use the power of the cloud and big data to help healthcare professionals make better financial decisions for their organizations and patients, right at the point of care. With a vendor-neutral position and extensive integration experience, we can help you maximize existing systems to realize positive financial outcomes.
- Population health management
McKesson Population Manager™ provides insight and actionable detail into the health of patient populations, helping provider networks achieve better health outcomes. It’s also a first step to supporting clinical integration and risk-based contracting, where payers reward provider groups for better healthcare quality and cost-effective delivery. It can help your organization achieve better preventive care and disease management, improve physician compliance with quality measures and care guidelines such as HEDIS and IHA, and streamline workflow and patient outreach.
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