Financial Analysis That Pays on Day 1
Give us two weeks to analyze your pharmacy operation, and we’ll not only uncover opportunities for you to perform more profitably, we’ll provide an action plan and guarantee the savings.
Pharmacy Assessments Yield Immediate and Long-Term Value
Using benchmarks we’ve established from working with many hospitals over the past 15-plus years, CompleteRx identifies areas to revitalize the financial health of your pharmacy.
Opportunities for significant cost reduction or containment may lie in purchasing practices or inventory levels. Perhaps you’re experiencing lost charges or excessive overtime due to staffing needs. Or in the reimbursement programs in which you’re participating. Or not participating.
We look at everything including, but not limited to:
- Profit & Loss statements for the pharmacy
- Purchases and utilization
- Inventory levels and management
- Charges pharmacy sends to various departments
- Financial programs (340B)
- Staffing levels
- Benefits the pharmacy employees currently have through the hospital
- Minutes of P&P meetings
We analyze these areas with the same painstaking detail and due diligence we would if the pharmacy were our own. You can rest assured we will treat and address every challenging issue or weak spot with extreme care, and in the end, we’ll enhance the overall financial health of your operation.
Impact Above and Beyond the Bottom Line
We anticipate and avoid drug shortages. We implement more efficient clinical protocols. We determine and institute more cost-effective therapies for patients. All of these can make a substantial dollars-and-cents impact on the general ledger.
But more than that, these actions affect the nurse-doctor-pharmacy dynamic. They enhance patient safety and increase HCAHPS scores, too. This added value, a positive boost to the workplace environment, historically makes its way back the to the bottom line. And before you know it, you’re experiencing something called perpetual impact.
What You Can Expect When We Engage Your Hospital
Our easy, pain-free, profitable process starts with one of our clinical or operations directors who will go onsite for a day or two. Then our team will pore over the data and processes mentioned above. We can do this deep-dive analysis in as little as two weeks.
Once we determine the areas of savings opportunities, we create an action plan(s) outlining the initiatives we propose to implement and present to your decision makers: COO, CNO, whomever the pharmacy reports to.
We prioritize those you agree are the most critical and determine a total figure we can save you in the very first year.
Not only will we guarantee savings for the hospital, we will put our money where our promise is.