Lunch with FTI: Part 1: Reducing Costs of Physician Preference Items
Without limiting physician choice
August 29, 2019
Length: 30 Minutes
Managing physician preferences is key to reducing hospital medication costs, which are rising six to ten percent annually. Reliance on expensive medications such as IV acetaminophen has contributed to the problem.
This joint presentation by two hospitals which have successfully reduced IV acetaminophen costs by as much as 80 percent and the FTI Consulting PharmD experts who guided the initiatives at Milford Regional Medical Center will give you valuable insights.
Boston Medical Center and Milford Regional Medical Center had different budgets but the same problem: how to curtail use of this costly medication while maintaining a patient outcomes focus.
Analyzing clinical data, the team leveraged Pharmacy and Therapeutic committee governance and informatics to modify protocols such as an earlier shift from IV to oral medications.
Listen in to learn the details.
- Effective clinical and operational strategies to reduce medication spend.
- Engaging physician leadership and P&T governance structure to address over-prescribing of costly medications.
- Hear from Boston Medical Center and Milford Regional Medical Center about how their teams reduced IV acetaminophen use.
Who Should Watch?
- Hospital C-Suite Executives Interested in Reducing Medication Expenses
- Directors and VPs of Pharmacy
- Chief Medical Officers
- Chief Executive Officers / Presidents
Pamela Froneberger has over 30 years of healthcare nursing and cardiovascular service-line, supply chain performance improvement, hospital strategic sourcing and healthcare contract negotiations management and leadership experience. As an experienced practitioner; she can effectively interface with physicians, nurses, and technologists to drive realistic and appropriate clinical and operational improvements.
Andy Murphy specializes in supply and purchased service cost reduction, supply chain process design/improvement, clinical and non-clinical supply/service conversions, value analysis, and analytics. Mr. Murphy has led performance improvement engagements involving supply and purchased service expense reduction, strategic contracting, GPO selection, data management and analytics, shared services, value analysis and clinical conversions.