Reduce Risk, Eliminate Errors, Save Money

Reap the operational rewards from audits and evaluations, gap analysis and clinical protocols, all while saving money immediately.

Pharmacy Risk Management: Profitable For The Whole Hospital

In a complex environment like your hospital, even the simplest of breakdowns in one area can have a ripple effect on the large body in the form of patient safety, compliance issues, medication waste, and more.

But through our Medication Safety Assessment and other annual and quarterly audits, 340B program monitoring and management, plus ongoing training, CompleteRx dramatically reduces risk, increases safety and protects the hospital operationally and financially all year round.

Examples of procedural pharmacy issues we address:

  • Many sites were using insulin pens on several patients. We developed policies to actually draw up insulin, specific to each patient, for usage.
  • A pediatric hospital was billing formula against an inactive service date, and the quantities didn’t match pharmacy and dietary records. We established a better procedure and conduct quality checks monthly.
  • We have foreseen shortages and developed plans to address them.
  • For ICU patients that require medication intravenous drips to help manage pain and maintain blood pressure, we established the concentration for the bags to ensure easy storage and minimize waste.
  • We set up medication error review and assessment.

Evaluations and audits CompleteRx performs:

  • Operations status report audit
  • Drug specific audits on high-cost, sensitive medications like Spiriva and Meperidine
  • Quarterly audits on anticoagulation
  • Gap analysis on pain management and/or glycemic control
  • Intervention documentation and assessment

Examples of clinical protocols CompleteRx establishes:

  • Switching patients from Remicade to Humira
  • Dosing protocol for ESA agents
  • Dose Rounding
  • Renal dosing protocol
  • Kinetic dosing
  • Anticoagulation protocols
  • IVIG dosing

Maintaining 340B Compliance

If a hospital in the 340B program is found to be non-compliant – and unfortunately, it’s easy to slip – the penalties can be expensive. Not only does CompleteRx help prevent that, we make it hassle-free.

We Make 340B a Turnkey Program.

When one of our facilities qualifies for the 340B program, we work with their information department to set up the necessary data feeds. We review the accuracy of the data feeds, making sure they are captured in the software appropriately.

We train their purchasing agent or buyer on how to participate in the 340B program. Then we monitor the program at the start to make sure that the accumulators are all filling into the correct buckets.

In addition, we conduct an annual audit of the program’s components. We provide a written report, including any issues to address, as well as cost information so the client knows what they are saving from the program.

Medication Safety Assessment

Perhaps the most significant risk management tool we have is the CompleteRx Medication Safety Assessment (MSA). The MSA is the product of best practices identified both through our own experience as well as through third parties like the Institute for Healthcare Improvement. It’s updated quarterly.

Each one of our facilities gets an MSA. We identify trouble spots and develop a plan to address each one. Often we employ Six Sigma tools. For example, for one client hospital, we did the MSA and identified safety issues with the total parental nutrition (TPN) process. We conducted a Failure Mode and Effects Analysis to determine the break points in their TPN procedures. We incorporated the findings in an action plan for the client.

Typically a One-Week Process

The time it takes to conduct a Medication Safety Assessment depends on the size and scope and complexity of the organization. It’s usually within a one-week time frame. We’re on site 2-3 days for discovery. Then we put together an action plan, based on opportunities we find. We meet with an interdisciplinary team (medical staff, nursing, pharmacy) and select which projects the organization would like to pursue.

Accreditation Assistance

The MSA is beneficial in a number of ways. Accreditation compliance requires us to assess the medication management system. That is precisely what our MSA does

Read Our Case Study

Medication Reconciliation is not accurate upon hospital admissions with up to 67% of all admitted patients having at least one error that has potential to cause harm. CompleteRx set to address this issue at one hospital by developing a Medication Reconciliation Technician Program.

Get To Know Our Team

We take a proactive approach to risk management.