Increasing drug costs. Reimbursement shortfalls. Budget cuts. Drug shortages. The Vizient® Pharmacy Program helps you meet all of these challenges and more, and is the key piece to our comprehensive pharmacy portfolio.

With drug costs accounting for 20 percent or more of hospital expenses, our portfolio of pharmacy offerings can help you make pharmacy a strategic business asset for maintaining a competitive advantage.

Benefits:

  • More than 12,000 products and services in our pharmacy group purchasing organization (GPO) portfolio
  • Actionable pharmacy analytics (members only)
  • Access to our experts and Drug Price Forecast Report (members only)

Plan better, budget smarter with the Vizient Drug Price Forecast

The semiannual Vizient Drug Price Forecast provides drug price change projections over the next 18 months based on our industry-leading data and analytics.

 

 

Access the latest Drug Price Forecast

 

  • Over $48 billion in committed pharmacy spend, making Vizient the industry leader in spend volume
  • More than 12,000 contracted products and services
  • Over $60 million in failure-to-supply (FTS) recovery fees collected since inception
  • Over $16 million in FTS reimbursements in 2015 alone
  • The Novaplus® pharmacy portfolio consists of more than 700 national drug codes

Semiannual Drug Price Forecast Report

This report helps members develop their annual pharmacy budget. It includes in-depth reviews of top therapeutic classes and offers additional insight into acute, nonacute, specialty and pediatric pharmacy issues.

  • Budgeting support with access to our Drug Budget Forecast Report
  • Clinical and financial alignment based on reliable data
  • Personalized reporting
  • Pricing performance benchmarks

Savings Actualyzer - Pharmacy

The pharmacy module within Savings Actualyzer enables you to level prices, increase cash flow and confidently manage pricing across your entire system — down to the drug level. 

  • Explore pharmacy spend and identify opportunities to maximize your contract portfolio and manage rising drug costs
  • Monitor pharmacy trends and performance over customizable time periods, providing insights into financial implications and the effect of formulary changes
  • Focus on actionable insights that help you identify and implement cost-reduction initiatives 

Pharmacy Network Program

The Vizient Pharmacy Network Program offers solutions to meet the dynamic needs of pharmacy leaders.

  • Collaborate in a safe, trusted environment that drives improved performance
  • Engage in monthly peer-to-peer, real-time communication with like-minded pharmacy leaders
  • Utilize robust data analytics, summary dashboard and reports for opportunity identification and decision-making
  • Access Vizient executive pharmacy and peer resources to help you stay on the forefront of key trends in the industry

Vizient uses data-driven insights to help members achieve impressive cost efficiencies, performance gains, and clinical improvements in their pharmacy operations. We provide expertise and performance improvement across a variety of areas. 

  • A robust roster of clinical and operational pharmacy references
  • Ongoing member opportunities for continuing education credits
  • Industry thought leadership

A bold approach to drug shortages

For more than a decade, our priority has been to help mitigate the effects of the drug shortage crisis. No other GPO has taken such bold measures to address this critical problem.

Our response to drug shortages includes:

  • Encouraging production of critical drugs
  • Advocacy with government agencies and industry groups
  • Emergency procurement process
  • Contracting bid standards that surpass our competitors
  • Automatic failure-to-supply program
  • Communications and insights through the Vizient Drug Shortage Information Exchange
  • Weekly Drug Shortage Digest
  • Drug shortage alerts
  • Current drug shortages
  • Member education sessions
  • Supplier communications

Guest residency program

Managing drug shortages takes up a significant amount of time. We are trying to be proactive and milk our resources to get what we need, even if that means switching to an alternative. We haven’t reached this point yet, but soon, we will have to make tough decisions about who will get what necessary drugs.
Mike Bertagnolli, RPh, MBAManager, pharmacy services, Bozeman Deaconess Hospital