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Like other healthcare leaders, one hospital exec faced the challenging task to realize as many cost savings opportunities as possible. However, this innovative leader decided focus on one area many overlook: the pharmacy.
By working with CPS, the industry’s leading hospital pharmacy solutions provider, the health system gained access to the people, processes, and technology needed to overcome today’s challenges and set up for tomorrow’s success.
This tech-enabled pharmacy management solution began by building strong relationships across the hospital staff to pinpoint the focus areas that mattered most.
From there, CPS implemented an all-in-one innovative pharmacy management software to identify the pharmacy’s highest impact initiatives—all backed by clinical pharmacists and compliance specialists.
In just 15 months: the CPS team implemented 100+ cost-effective initiatives across the health system to reduce drug spend by 23%.
That’s not the only line item with drastic results. They also achieved significant cost avoidance through clinical interventions, regulatory assessments, 340B program enhancements, staffing efficiencies, and more.
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23% Lower Drug Spend for Acute Care Health System
How tech-enabled pharmacy management delivered rapid speed to value
How Does Your Hospital Pharmacy Benefit?
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IN-DEPTH ASSESSMENTS We review clinical and financial performance, regulatory requirements, compliance status, standards of practice, accreditation standards, policies and procedures, and more
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GUIDANCE BY PHARMACY PRACTICE SPECIALISTS We advise your pharmacy while addressing performance barriers and introducing a culture of continuous improvement
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CORRECTIVE ACTION PLANS We benchmark performance and identify opportunities
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SPECIAL COMPLIANCE PROGRAM We deliver keen focus on 340B programs, USP 797/800, controlled substance risk, accreditation readiness, and more
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LEVERAGE OUR YEARS OF EXPERIENCE CPS has delivered over 250 customized sterile compounding consultative assessments for diverse compounding operations
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RECEIVE A COMPLETE SITE ASSESSMENT using our proprietary audit tool
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RECEIVE A DETAILED EVALUATION OF STAFF AND SYSTEMS including personnel training and evaluation, an operational review, and more
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FOLLOWING ASSESSMENT, CPS will deliver a written compliance report and a corrective action plan detailing findings and recommendations to bring your compounding pharmacy into regulatory compliance.
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CPS WORKS WITH YOUR THIRD-PARTY ADMINISTRATORS to capture the claims which now meet the standards for inclusion in your 340B program
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YOUR ORGANIZATIONAL REVENUE INCREMENTALLY IMPROVES FROM THIS PROCESS
Case Study: How Drew Memorial Slashed Total Drug Spend to <$20 PPD