|
News and Events
Press releases
Broadlane Announces 2008 Pharmacy Portfolio;
Offers Clients Significant Value
Dallas - April 1, 2008 - Broadlane recently announced its 2008 pharmacy portfolio, which will provide clients significant savings during a time when the pharmacy industry is projecting a 4 to 6 percent increase.1 One of the main drivers for the savings is that 15 percent of the entire 2008 Broadlane pharmacy portfolio is represented by sole awards.
The new pharmacy portfolio is available to Broadlane clients beginning April 1. Another key component of Broadlane's successful bidding is the addition of an optional generic auto-substitution program for the top 200 pharmacy products on Broadlane contracts.
"Our Pharmacy Advisory Committee, composed of our clients, decided unanimously on the generic auto-substitution implementation strategy," said Fred Halvachs, senior vice president, pharmacy services, Broadlane. "At a time when healthcare costs are spiraling upward, allowing provider-approved auto-substitution of generic alternatives for high-cost branded drugs will help hospitals comply with their formularies, reduce the cost of care and automatically generate savings."
The 2008 pharmacy portfolio, developed in conjunction with the Pharmacy Advisory Committee and approved by Broadlane's Executive Steering Committee, was an involved process spanning over one and one-half years and centering on two key phases. The first phase included the negotiation of terms and conditions for 156 contracts, focused on obtaining or improving key terms for customer support initiatives. The second phase involved a thorough analysis of approximately 15,000 line items to determine the appropriate contracting strategies.
"We are pleased to provide our 2008 pharmacy portfolio to our clients," said Halvachs. "The new portfolio offers our clients significant savings and provides them with the necessary tools to achieve the savings available. The new portfolio, combining lower prices with generic auto-substitution and Broadlane's real-time price verification service, will ensure that the lowest price available is also the actual price paid."
"Our pharmacy services group works very hard when developing a new pharmacy portfolio," said David Ricker, president and chief operating officer, Broadlane. "The savings we will offer our clients through this portfolio, coupled with the outstanding services we provide, are the reasons we are selected by so many as the GPO of choice."
Broadlane client care representatives are presenting clients with detailed information about savings opportunities available in the 2008 pharmacy portfolio to help clients realize these pharmacy savings immediately.
About Broadlane
Broadlane is a leading supply chain services company serving thousands of acute care hospitals,
ambulatory care facilities, physician practices and other healthcare providers throughout the United States.
Broadlane provides comprehensive supply chain services including:
- High-powered national & custom contracting
- Innovative Procurement Services & technology
- Informatics – benchmarking, analytics and reporting
- Deep clinical & operational expertise
- “High-touch” client service
Broadlane is the nation's leader in providing comprehensive resource management to health care systems.
Broadlane's clients include leading providers such as Advocate Health Care, Ascension Health, CHRISTUS Health, Continuum Health Partners, Kaiser Permanente, Kindred Healthcare, MedCath Corporation, New Hanover Regional Medical Center, Sisters of Charity of Leavenworth Health System, St. Luke's Episcopal Health System, Tenet Healthcare, The Health Alliance of Greater Cincinnati, US Oncology, UMass Memorial Health Care and Beaumont Hospitals.
The company is headquartered in Dallas with offices in Cincinnati, Detroit, Houston, Kansas City, New York City and Oakland. For more information, visit www.broadlane.com.
1. Hoffman JM, Shah ND, Vermeulen LC et al. Projecting future drug expenditures-2008. Am J Health-Syst Pharm. 2008; 65: 234-253. |
