Medication Policy Solutions

Taking cost and inefficiency out of the medication management process while ensuring high-quality outcomes is a complex challenge. To avoid costly and ineffective experimentation, you need to have a clear understanding of your current processes and a proven roadmap on how to achieve better results. Once armed with a comprehensive understanding of your current state, you can rapidly implement a medication management system and consistent drug formulary that delivers the best patient outcomes and cost-saving strategies. Our consulting solutions to help your achieve results in this area include:

      RxFocus®

      This consulting solution uses analysis and forecasting tools to help you understand the key drivers of drug costs within your institution, and identify opportunities for cost savings and pharmaceutical performance improvement. Your facility’s drug utilization data is then benchmarked against comparable facilities using our formulary performance tool. With this information, you can evaluate your utilization patterns against those of peer organizations and identify parameters that fall outside the norm for national and regional institutions similar to your own. RxFocus® can also be used to:

    • Assess formulary content and medication use to determine the most cost-effective model for your institution

    • Serve as a foundation for therapeutic class review, therapeutic initiative cost impact projections, brand generic comparisons, and contract compliance review

    • Offer unbiased and individualized evaluation of contracts, drug policy, and use patterns

    • Provide a detailed action plan for implementing identified cost savings opportunities

    • Establish a baseline and provide trends for clinical operational parameters

      • Our clinical consultants offer a highly customized approach that evaluates and benchmarks a facility’s utilization patterns. We work closely with your clinical pharmacy team to understand your drug policy, resources, and formulary. The end result is a detailed and prioritized plan of action designed to decrease pharmaceutical costs, while maintaining or improving clinical performance.

      RxTrend®

      New drugs. Changing treatment scenarios. Aging population. Physician utilization patterns. Patient volume and acuity. Given the variety of factors contributing to rising drug costs, it can be difficult to identify those areas where cost reductions are possible. RxTrend® shows you the key drivers of drug costs in your organization by drug and therapeutic categories. It also evaluates changes over time and measures the impact of utilization and inflation on purchase trends. With this information in hand, you can:

    • Forecast future drug expenditures

    • Explain drug cost increases and variances from planned expenses

    • Identify drug cost reduction opportunities

      • In a multi-site organization, this data can help you see utilization variations among pharmacies in the system and identify facility-wide cost savings opportunities.