Inventory Monitoring and 340B Compliance

Framework to automate repetitive and mechanical tasks, and a balanced scorecard to measure KPIs.

Lower costs, increased value from suppliers, improved patient care, and enhanced employee satisfaction.

inventory-monitoring

SITUATION

The company had site-based teams and purchase partners. Their pharmacy team lacked the bandwidth and tools needed for effective monitoring. They wanted to reduce the cost of service from wholesalers while increasing opportunities for tier pricing reduction. The aim was to optimize the medication acquisition monitoring process and to save by class of trade purchasing, improved tracking, and 340B compliance.

CONTRIBUTING FACTORS

  • All processes were manual and disparate.
  • There was no tracking of inventory sources.
  • KPIs were not set correctly.
  • The business model had no integration between the inpatient and outpatient pharmacies.

CHALLENGES

The organization struggled to manage 340B compliant inventory movement. This led to higher costs of the pharmacy supply chain. Ineffective management of pharmacy integration with corporate hospital groups resulted in critical cost and revenue leakage.

HIGHLIGHTS

  • Streamlined the pharmacy supply chain, enhancing company profitability and the overall patient experience.
  • This resulted in lower costs, an increased value from suppliers, improved patient care, and enhanced employee satisfaction.

ADDITIONAL BENEFITS

  • Developed a new framework to maximize existing technology and automate repetitive and mechanical tasks.
  • The creation of a Balanced Scorecard for measuring and tracking KPIs for employees increased efficiency and improved productiveness.
  • User experience scoring confirmed employee satisfaction.