CostCheck is a pharmacy cost optimization platform that helps hospitals and health systems eliminate 4% of their annual drug spend by providing actionable insights and tailored savings opportunities. As a pharmacist-designed procurement optimization solution, CostCheck modernizes drug purchasing and provides transparency to all options by uniting industry-wide pricing data with hospital-specific contracts, invoices, and consumption. Our customers optimize their spend, prevent overcharges, and maximize return on time – with customers achieving significant savings when investing just 30 minutes weekly.
PRICE FLUCTUATIONS
The average hospital needs to consider 20,000 NDCs daily and 10,000 price changes weekly
INVOICE ERRORS
Pricing errors are common and can be easily missed
340B SPENDING
340B purchasing must be closely monitored and maintained
GPO COMPLIANCE
Maintaining GPO compliance is critical to maximizing annual rebates
A Unique Solution to These Problems: Procurement Cost Optimization
Optimize NDCs and Purchasing
Ensure your hospital is purchasing the right products at the right prices, ultimately cutting costs while tracking total savings. CostCheck offers pharmacy procurement optimization that pinpoints alternative equivalent NDCs at lower costs – averaging to $15,000 in savings per recommendation. Additionally, directly purchase select inventory from Pfizer Hospital with special offers customized to your usage.
Monitor Contracts and Overcharges
Proactively monitor 100% of your contracts and invoices to uncover direct saving opportunities. Identify anomalous price increases, flag contract errors like misloads and outlier accounts, and benchmark your pricing against hospitals nationwide. CostCheck goes further by catching overlooked invoice errors and notifying users of mischarges – helping hospitals avoid overpayments that can exceed $100,000. In-app workflow tools ensure each opportunity to save on contracts and overcharges is reviewed, submitted for resolution, and tracked for outcomes including credits, rebills, and total savings.
Optimize 340B Purchasing
For hospitals in the 340B program, CostCheck tracks spending increases due to shifts in WAC and GPO ratios, flagging potential 340B issues and offering actionable insights to address them. Get real-time notifications the moment a potential GPO exclusion purchase occurs, and document your response to maintain audit readiness.
Maintain GPO Compliance
Track and maintain GPO compliance for your hospital to maximize annual rebates. In addition to prioritizing recommended changes by GPO compliance, CostCheck also provides a centralized GPO dashboard. This view reveals overall compliance in real time, details line-item compliance, and monitors and exports failure to supply credits.
Mitigate Shortages
CostCheck + Shortages, not only helps you prioritize the most impactful shortages, but also solve for each one. This tool unites industry-wide shortage intelligence from ASHP and FDA, each participating hospital’s ADC inventory on hand and rate of use, and available equivalents from both wholesalers and Pfizer Hospital. By combining powerful data and workflow tools, each health system can track, plan, source, and communicate in a single place.
Optimize NDCs and Purchasing
Ensure your hospital is purchasing the right products at the right prices, ultimately cutting costs while tracking total savings. CostCheck offers pharmacy procurement optimization that pinpoints alternative equivalent NDCs at lower costs – averaging to $15,000 in savings per recommendation. Additionally, directly purchase select inventory from Pfizer Hospital with special offers customized to your usage.
Monitor Contracts and Overcharges
Proactively monitor 100% of your contracts and invoices to uncover direct saving opportunities. Identify anomalous price increases, flag contract errors like misloads and outlier accounts, and benchmark your pricing against hospitals nationwide. CostCheck goes further by catching overlooked invoice errors and notifying users of mischarges – helping hospitals avoid overpayments that can exceed $100,000. In-app workflow tools ensure each opportunity to save on contracts and overcharges is reviewed, submitted for resolution, and tracked for outcomes including credits, rebills, and total savings.
Optimize 340B Purchasing
For hospitals in the 340B program, CostCheck tracks spending increases due to shifts in WAC and GPO ratios, flagging potential 340B issues and offering actionable insights to address them. Get real-time notifications the moment a potential GPO exclusion purchase occurs, and document your response to maintain audit readiness.
Maintain GPO Compliance
Track and maintain GPO compliance for your hospital to maximize annual rebates. In addition to prioritizing recommended changes by GPO compliance, CostCheck also provides a centralized GPO dashboard. This view reveals overall compliance in real time, details line-item compliance, and monitors and exports failure to supply credits.
Mitigate Shortages
CostCheck + Shortages, not only helps you prioritize the most impactful shortages, but also solve for each one. This tool unites industry-wide shortage intelligence from ASHP and FDA, each participating hospital’s ADC inventory on hand and rate of use, and available equivalents from both wholesalers and Pfizer Hospital. By combining powerful data and workflow tools, each health system can track, plan, source, and communicate in a single place.
$47,207
monthly cost of delaying CostCheck
$428,720
average savings per hospital
$14,897
average savings per recommended change
$10,870
saved per minute spent in the platform
What Our Customers Have to Say
“Our wholesaler didn’t consider a prefilled bag and a prefilled glass container to be equivalent, so I couldn’t see that the bottle was an option in the ordering platform without searching for it. CostCheck brought it to my attention, let me switch to a cheaper alternative, and move to an item that wasn’t in shortage.”
Thomas Latuga PharmD, BCPS, Pharmacy Finance, and 340B Coordinator
Want a Personalized Analysis?
We know that pharmacy purchasing differs between hospitals which is why we offer a live demo of CostCheck leveraging your live pricing information to ensure it is customized to your needs.
Request Analysis
SUCCESS STORY
Sentara Healthcare
Sentara faced the challenge of optimizing drug spend without burdening staff with a manual, time-consuming approach. Each Sentara hospital leveraged CostCheck on a once-weekly cadence, spending about 30 minutes per week on the platform and pursuing the action items. In less than five months, Sentara realized savings of over $1 million – an outcome that equates to about $8,000 of drug spend eliminated for each hour spent using CostCheck.
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