PHARMACY SUPPLY CHAIN MANAGEMENT: Strategic Information Pharmacy (SIRx)

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Strategic Information Pharmacy (SIRx)

Capture cost savings in the pharmacy by making sure purchases are on the right contract on the right tier and at the right price.

Automates some fundamental audits that many hospitals perform manually
Reviews and identifies pricing discrepancies, and works with vendors and distributors to resolve discrepancies, ensure credit and complete re-bills
Reviews and identifies failures to supply items and helps recover costs
Assesses financial impact of backorder status for guaranteed supply items, then sends invoices to manufacturer for reimbursement
Reviews monthly high dollar market share contracts, compares to target ranges and identifies opportunities for getting to the next range
Reviews and identifies opportunities to purchase alternative agents at a lower price—and the ability to accept or decline
Deletes declined alternatives from subsequent reports
Models potential cost savings when converting to alternatives

Improve your
Operating Margins

MedAssets improves
and sustains
operating margins
by 1.5% to 5%.

Silver Cross Hospital

Silver Cross realizes $816,000 in increased revenue with the changes implemented with the help of MedAssets’ cost accounting and clinical analytics decision support tools.