Tracking the value of pharmacy interventions

Results from a study recently released by the Veteran’s Administration offers a roadmap for hospital pharmacists looking to explain their value to their administration. Beginning in 2012, VA pharmacists began recording their patient interactions for their most common interventions in the health system’s electronic health records (EHR) using a pharmacist-specific template. These encounters were most […]

Controlling pharmacy costs: Where innovation meets good management

Sustainable cost control is the new number one concern for hospital CEOs, according to the latest Annual Health Care CEO Survey by the Advisory Board.   The Advisory Board surveyed 146 c-suite hospital executives between December 2017 and March 2018 and found that 62 percent were extremely interested in sustainable cost control. Since pharmacy plays […]

8 tips to help your hospital combat rising drug prices

Rapidly rising drug prices and shortages are predicted to continue for the foreseeable future, say industry experts. In fact, Vizient issued a drug price forecast predicting a 7.35 percent price increase in pharmaceutical purchases made between July 2018 and June 2019. The good news is that pharmacy leaders can help their hospital mitigate these budget […]

CompleteRx Recognizes Employees, Clients with Annual Quality Awards

CompleteRx recently announced the winners of its 2017 company awards at a town hall meeting broadcast live to offices across the U.S. “Each year, we take a moment to acknowledge the outstanding work performed across our network of hospital pharmacies with these awards,” said Terry Andrus, CEO. “It’s always hard to choose among such excellent nominees. Handing […]

7 Benefits to Outsourcing Your Hospital Pharmacy

Hospital leaders sometimes avoid the idea of outsourcing their pharmacy for fear they’ll lose control of this important segment of their operation or alienate valued pharmacy staff. Often, pharmacy is the second largest cost center in a hospital’s operations, so the concern is understandable. It is vital hospitals optimize their pharmacy operations amid ever-changing regulations, […]

What You Can Do: Sterile Water for Injection Shortages

Backorders and shortages of sterile water for injections continue to plague every hospital’s staff, and likely will for the foreseeable future. In fact, the shortages have become so severe this winter that the American Society of Health System Pharmacists (ASHP), in conjunction with the University of Utah, published a series of best practices for how […]

Going Beyond the Rx – Massachusetts State Office of Pharmacy Services

In this blog series, we feature pharmacy team members who go beyond the call of duty to provide the best possible care to patients and to serve their communities through contributions of time, expertise and passion for all things pharmacy. Today, we feature the CompleteRx project team working with the Massachusetts State Office of Pharmacy […]

News Recap: Hospitals File Suit to Stop CMS Changes to 340B Reimbursements

On November 1, the Centers for Medicare & Medicaid Services (CMS) announced its intent to reduce Medicare payments for hospital outpatient drugs under the 340B Drug Pricing Program. In response, the American Hospital Association, Association of American Medical Colleges and America’s Essential Hospitals filed a federal lawsuit to prevent the CMS from enacting the cuts. […]

News Recap: Operational Reform Needed to Achieve Cost-Cutting Goals

A recent survey by Kauffman, Hall & Associates revealed that few hospitals are making the operational changes necessary to achieve long-lasting cost reductions, despite the need for action. Featuring executives at 150 hospitals and health systems, participants included 30 percent from a health system with 10 or more hospitals, 26 percent from a stand-alone hospital, […]

Detailed Pharmacy Benchmarks Help Improve Patient Care, Profitability

Efficient operation of a hospital’s pharmacy department can contribute significantly to improved patient care and a hospital’s overall profitability. But, are you using the right benchmarks to judge your pharmacy’s performance? Pharmacy financial performance is often assessed year-over-year, which is a good place to start. Much can be learned by tracking and judging total existing […]