Services

Pharmacy services

Containing the rising cost of medical supplies is a major aspect of effective healthcare administration today. In order to reach the next level of financial performance, it is imperative that healthcare organizations find ways to combat the escalating cost of pharmaceuticals without compromising clinical performance or patient care.

A Total Pharmaceutical Cost Containment Solution

Broadlane’s Pharmacy Services are designed to be a total cost solution, providing best-in-class cost containment services without compromising clinical performance or patient care.

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Our comprehensive approach to managing pharmaceutical costs ensures that ongoing pharmacy management practices yield maximum financial benefits while improving therapeutic efficacy through clinical programs. Pharmacy Services provide you with drug cost containment, greater compliance with regulatory standards and improved patient safety.

In order to help you better manage your pharmaceutical procurement, Broadlane creates an individualized solution that utilizes a combination of:

• Our pharmaceutical contract portfolio
• Unique clinical drug cost management techniques and services
• Technology tools for tracking utilization and maximizing savings

Pharmaceutical Contract Portfolio

Broadlane’s portfolio of contracts is one of the broadest and most competitive in the industry, delivering impressive price value and coverage for the vast majority of pharmaceuticals required by healthcare providers. The portfolio is developed in collaboration with Broadlane’s Pharmacy Advisory Committee, a client-driven committee that guides contracting strategies and makes recommendations for contract awards.

In addition to pharmaceuticals, Broadlane’s portfolio provides access to related products like nutritional and peripheral items such as automated storage and dispensing units, PCA pumps, carts, shelving and reverse distributor services.

Clinical Drug Cost Management

Broadlane provides an array of clinical drug cost management tools and decision-making expertise to help drive utilization initiatives. Broadlane’s on-staff clinical pharmacists work with your clinicians to assist in developing and implementing cost reduction strategies such as:

• Formulary development guidance that balances clinical effectiveness with price advantages
• Generic standardization plans to decrease spend on branded pharmaceuticals
• Therapeutic substitution policies

These strategies are vital to managing drug costs, and are widely used in whole or in part by most providers. But the most significant savings are derived from utilization strategies that optimize market share to maximize savings opportunities. Our specialized staff provides assistance in developing and monitoring utilization initiatives, educating clinical staff and implementing tracking mechanisms and reporting to encourage and sustain compliance across facilities. Broadlane’s utilization strategies have helped many of our clients limit drug cost increases to less than 3 percent annually, compared to an industry average of 8 percent.

In particular, Broadlane’s Medication Use Management Program helps your organization reduce pharmacy expenditures through initiatives focused on your top drug therapy categories. Broadlane works with your executive and clinical team to analyze drug utilization, determine market share of competitive contract categories, evaluate overall compliance and identify trends. We help you target and implement hospital initiatives that will address utilization issues, reduce costs, increase patient safety and improve the quality of patient care.

Once the strategies are finalized, Broadlane develops detailed cost models to project the anticipated financial impact of each initiative and provides rollout planning, education and documentation to help assure your long-term success. Broadlane also tracks the savings for each initiative on a monthly basis to provide verification of results.

In addition to hands-on implementation and support, Broadlane provides continuing education opportunities on current and upcoming trends and relevant topics of interest, and assists you with pharmacy and therapeutics committee management.

Technology Tools

Broadlane offers a powerful set of technology tools specifically designed to help you combat the rising costs of pharmaceuticals.

Pharmacy Software
Broadlane has contracted with leading suppliers to offer technology products that assist with formulary management, pharmacist clinical documentation software and IV documentation as required by USP 797 regulations. This includes:

• Formulary management tools that help pharmacy professionals easily manage critical drug-related information via an intuitive Palm- and Web-based interface, allowing them to provide updated formulary information at the point of care.
• A Web-based, turn-key sterile preparation documentation system that allows clients to track employee competency and hood inspections, document daily quality control standards and monitor the preparation of individual sterile products or batches of antibiotics.
• Web- and Palm-based software that allows pharmacists to document patient interventions and their financial impact on the pharmacy and hospital budget.

OnRamp™
OnRamp, Broadlane’s online client portal, helps you contain pharmaceutical costs by placing all the information you need to effectively manage your procurement process at the click of a button. The continuously updated pharmacy resource area provides a wealth of key clinical and contract information, including:

• Pharmacy contract updates
• Contract opportunity savings information, including electronic forms and detailed program information
• Clinical practice guidelines
• Continuing education opportunities
• Patient safety newsletters
• Drug wholesaler and distribution information
• Generic equivalent cross-reference information
• Opportunity reports to optimize generic savings

Pharmacy Reports and Analysis
Broadlane provides online reports that help you monitor utilization and identify key categories on which to focus cost reduction initiatives.

Our market share reports show both system-level and facility-level performance by class of trade for five key performance-based contracts: hematopoietic agents, the low-molecular weight heparins, glycoprotein inhibitors, insulin and proton pump inhibitors.

In addition, our net spend report and our top therapeutic categories report help target the most beneficial clinical and utilization efforts.