Drug costs are a significant and growing expense that health systems must manage efficiently. Transparency into reliable pharmacy analytics is critical to making informed decisions in order to level prices, increase cash flow and manage pricing systemwide.
With real-time visibility into expense management across all care settings, organizations rely on Vizient Pharmacy Analytics to redefine pharmacy as a strategic contributor in a hospital’s ability to reduce pharmaceutical spend while improving outcomes. Pharmacy analytics are the foundation to success, and our solutions help optimize product access, manage drug spend and identify new opportunities across acute and non-acute settings.
Expansive portfolio, data-driven insights
- Successfully reduce costs and manage margins
- Increase operational efficiency and ensure quality patient care
- Deliver valuable insights to disciplines across your organization – pharmacy, supply chain, c-suite, finance, and clinical
Vizient Savings Actualyzer for Pharmacy
We offer precise, actionable pharmacy analytics in order to identify savings opportunities and inform smart decisions for your organization. Our platform provides access to the industry’s leading portfolio across more than 12,000 products and enables you to maximize and track opportunities through analytics and reports specific to your organization.
- User-friendly interface and automated opportunity identification
- Visibility across all spend types (WAC, GPO and 340B) for your acute and non-acute facilities
- Real-time purchasing oversight of your organization and by facility
- Data at invoice level detail for 24 months to use for benchmarking, dashboards and custom analytics and visualization
Expertise from your product advisor
Your dedicated product advisor will work closely with your pharmacy team to help you interpret the data and develop a plan to quickly implement opportunities, monitor trends, and provide ad hoc custom analysis and insight into market best practices.
Vizient Savings Actualyzer for Pharmacy
Our platform expands your visibility into pharmacy contracts, market data and benchmarking — all while providing access to the industry’s leading pharmacy portfolio.
Save time while optimizing pharmacy spend.
By centralizing the recovery of savings that are lost when suppliers are unable to deliver Vizient contracted products, our program empowers participating members to drive sustainable performance. We have a team dedicated to recover your savings, collect them on your behalf and provide you with quarterly reporting through the Vizient Savings Actualyzer for Pharmacy platform.
Lessen your burden and advance your performance
- Savings performance: Contract terms and quarterly reporting drives sustainable member savings
- Operational performance: Centralized recovery process lessens your organization’s administrative burden
Pharmacy Value Tracker (PVT)
This pharmacy analytics tool is for contract optimization and price verification. It enables participating health systems and hospitals to monitor realized value over time as well as identify additional value opportunities.
- Program transparency: See actual savings and credits, and protected units, based on contract enhancements
- Contract optimization: Tracks if contracts are fully optimized and full savings are being realized, and identifies facilities that are not fully utilizing GPO contracts
- Quality assurance: Ensures price integrity of current contracts, identifies products and/or vendors with supply issues, and provides direct reduction in pharmacy cost
Access to the PVT is provided to pharmacy program members monthly via their Vizient Pharmacy Executive, Pharmacy Network Executive or other Vizient representative.
Pharmacy Price Verification
Through this program, Vizient pharmacy program participants receive the benefits of automated monitoring and centralized cost recovery to ensure that the full value of the Vizient pharmacy contract portfolio is realized. We monitor pharmacy purchases to identify price discrepancies and work on behalf of our members to reconnect the contract price and recoup eligible credit. The result is a direct reduction of pharmacy cost.
Additional value with no additional fees
- Participating members are reconnected to eligible contract prices going forward
- Minimal member involvement is required – we seamlessly carry out price verification in the background
- All wholesalers and pharmacy suppliers are included in our review to recover eligible credits ensuring comprehensive savings
Want to know more about how pharmacy analytics can help you make informed decisions?