Date:

Wednesday, October 23, 2019

Time:

11:30 a.m. CT

Duration:

30 minutes

Topic:

Supply Chain Leadership Series

With inpatient reimbursement models favoring capitated payments, hospitals nationwide seek innovative approaches to reduce the inpatient cost of care without compromising quality. The impact of drug shortages, single source products and marketing exclusivity for old generic drugs all contribute to the rapid escalation of drug acquisition costs. Identifying, implementing, validating and sustaining inpatient drug cost savings has become essential to the economic viability of hospitals.

University of Kentucky HealthCare (UK HealthCare) developed a comprehensive process to maximize efficiency while also assuring the best possible outcomes and collaborating with finance to validate cost savings: the positive financial impact for FY17 approached $4 million. The speakers will discuss successful inpatient pharmacy savings strategies and initiatives that provided a path to economic stability.

Learning objectives

  • Identify drug cost-savings opportunities without compromising patient outcomes
  • Describe a process to implement, monitor and sustain medication cost-savings initiatives
  • Describe a methodology to validate pharmacy cost savings beyond relying on purchasing data

Speakers

Phillip Chang, MD
Chief Medical Officer
UK HealthCare

Jeremy Flynn, PharmD, FCCM, FCCP
Director of Clinical Pharmacy Services
Associate Adjunct Professor, Pharmacy and Surgery
University of Kentucky College of Pharmacy and UK HealthCare

Moderator

Molly Zmuda, MHA
Vizient Senior Networks Director