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HOT topics in Medication Management

HOT topics in Medication Management. John Karwoski, RPh, MBA JDJ Consulting, LLC john@jdjconsulting.net 03.19.2014. JDJ Consulting, LLC Benchmarking 1 st Q. 2014, Purchasing/Formulary Cost. Buying Group Yes or No , Group Name. Ofirmev on Formulary Yes or No.

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HOT topics in Medication Management

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  1. HOT topicsinMedication Management John Karwoski, RPh, MBA JDJ Consulting, LLC john@jdjconsulting.net 03.19.2014

  2. JDJ Consulting, LLC Benchmarking 1st Q. 2014,Purchasing/Formulary Cost

  3. Buying GroupYes or No, Group Name

  4. Ofirmev on Formulary Yes or No

  5. Caldolor onFormularyYes or No

  6. Exparel onFormularyYes or NO

  7. Counting PropofolDaily atMain StorageYes or No

  8. Counting PropofolDaily by Anes. Yes or No

  9. Acquisition Costs: Selected Drugs

  10. Propofol20ml

  11. Ondansetron4mg Vial

  12. Fentanyl2ml

  13. Drug Cost Most drug cost comes directly off the bottom line

  14. Drivers of Drug CostNew Technology • New pharmaceutical are more costly than the older version – ARE THEY WORTH THE COST? • P and T must review the data to determine the relative effectiveness, relative toxicity, relative cost and relative benefit. • Some are worth it and some are not but you need to analyze

  15. Drivers of Drug Cost New technology Contract compliance Inefficient purchasing Inefficient processing Waste Packaging and unit size Physician preference Adverse events

  16. Drug Cost Drug Cost Components AWP – what is cost? Contract with buying group Contract with wholesaler Wastage Out dates Overcharges Billing Errors Inventory Management

  17. Inefficient PurchasingInjections • Zofran $10.44 vs. Ondansetron $0.76 • Lanoxin  $3.06 vs. digoxin inj $1.70 • Zantac $ 3.91 vs. ranitidine $0.95 • Lopresson $14.00 vs. metoprolol $1.43 • Suprane Vendor 1 $193.24 vs. Suprane Vendor 2 $ 173.80 • These are examples of findings from a recent JDJ review of ASC invoices

  18. Drivers of Drug Cost • Wholesaler overcharges – who checks • Outages- who is responsible • Outages – are you reimbursed for them • Reverse distributor

  19. Opportunities • Inventory Cost • Wholesale contract • Buying group contract

  20. Management of Drug Cost • Efficient Management • Formulary management • Buying Group • Wholesaler contract • Utilization of generics day 1 • Utilization of therapeutic interchange • Check invoices • Charge backs • Reduce waste • Inventory management

  21. Drug cost • Who is managing your drug cost?

  22. Employee Testing

  23. In 2013 was the Flu VaccineMandatoryfor Employees

  24. Drug testing on hire

  25. Is Random Drug testing Conducted?

  26. Questions???

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