Pharmacy costs are surging across the country, driven by utilization, inflation, and new drug approvals in inpatient settings as well as specialty drugs in outpatient environments. Prism offers unmatched pharmacy expertise, experience, and resources delivered by a team of seasoned pharmacists who have worked in hospitals and academic medical centers, as well as wholesale and retail locations.
We offer a range of pharmacy services, including:
- Clinical Pharmacy Support. Formulary reviews and appropriate use of medications are increasingly important as drug costs escalate and reimbursement decreases. Adopting nationally-recognized, peer-reviewed guidelines for medication use and/or disease state management is key, but the success is ultimately determined by the clinical services model, level of decentralized pharmacists involved, and team approach. Prism’s pharmacy consultants help hospitals achieve appropriate medication utilization and understand the impact of bundled payment structure on the organization.
- 340B Maximization. Participation in the federal government’s 340B Drug Pricing Program by eligible entities can offer a significant strategic and financial advantage. Qualifying providers and hospitals can save from 15 to 60 percent on the costs of covered outpatient drugs through this discount program. Providers may use the savings not only to offer reduced prices for low-income patients, but also to enhance services to an expanded group of patients. The catch? The program is complex and compliance with the governing regulations is critical. Prism’s pharmacy consultants partner with hospitals and health systems to maximize 340B program benefits, develop efficient management and distribution models, and streamline drug formulary decision-making to harness savings.
- 340B Compliance. Properly managing the complex federal 340B Drug Purchasing Program is difficult at best. The Health Resources and Services Administration (HRSA) is continuing to expand audits of covered entities, and the consequences of a non-compliant program can be severe. Prism offers experienced consultants who audit and provide clear and concise recommendations for 340B compliance improvement.
- Medication Reconciliation/Transitions of Care (TOC). As patients move between care locations, providers, or different levels of care within the same facility (e.g., ICU, SNF, etc.), there can be a significant gap in ensuring coordination and continuity of care. Medication discrepancies can occur during these transitions of care and are thought to be responsible for more than half of the medication errors across the country. Including pharmacists in the transition team assists in closing the gap and supports medication reconciliation, reducing the burden of medication discrepancies during care transitions and improving the quality use of medicines. Prism’s pharmacy consultants help providers develop robust TOC programs that start at admission, and we assist in the development and implementation of pharmacy-led medication reconciliation programs.
- Medication Therapy Management (MTM). MTM services are increasingly important across the provider spectrum because they help optimize medication use to improve outcomes for patients. Pharmacists and physicians can jointly make the appropriate therapy modifications and continually monitor plans based on collaborative practice agreements and protocols. Prism’s pharmacy consultants partner with the pharmacy and physicians to develop collaborative practice agreements that meet state-specific rules and regulations, and elevate patient care to allow physicians to focus on more critical needs.
- Retail / Specialty Pharmacy. As reimbursement changes for hospital providers based on shared savings and outcomes, ensuring patients are effectively managed once they leave the hospital becomes critical. Outpatient medication therapy is of paramount importance in this context. Prism’s pharmacy consultants can help you improve performance and revenue in existing operations and develop a business case to expand retail and specialty pharmacy services.
- Automation and Inventory Management. Most hospitals have automated dispensing cabinets (ADCs) in patient care areas. However, many do not have the capability to review and optimize the cabinetry system. Leveraging automation to maximum capability and understanding gaps in the current dispensing processes can improve efficiency and reduce drug expense. Prism’s experienced pharmacy consultants can assess the current processes, identify gaps, and provide solutions for optimization.
Webinar | June 21, 2017
Ramona Lacy, FACHE, Timothy Baker and Jan van Londen | May 2017