Finance
Improving the bottom line is top of mind for hospital pharmacies. Hospital margins are still below pre-pandemic levels, drug and supply expenses continue to increase, and drug spend represents 80% of inpatient pharmacy costs.
Bluesight prevents overspending and waste while optimizing contracts and NDC selections. Our solutions combine advanced analytics and simplified workflows to reduce expirations, waste, and diversion while fixing and preventing overcharges and misspending.
MEDICATION WASTE
Expired and stolen inventory is avoidable but continues to drive up costs for hospitals
PRICE FLUCTUATIONS
The average hospital needs to manage 20,000 NDCs daily and 10,000 price changes weekly
INVOICE ERRORS
Pricing errors are common and can be easily missed
A Unique Solution to These Problems:
Reduce Waste and Diversion
Save by reducing waste and preventing diversion.
- Adjust inventory PAR levels in kits and trays based on actual consumption to achieve up to a 92% reduction in expirations.
- Reallocate soon-to-expire inventory to high consumption areas.
- Efficiently investigate and confirm diversion while preventing future risk and improving your health system’s overall diversion strategy.
Optimize NDCs and Contacts
Ensure your hospital is purchasing the right products at the right prices.
- Identify equivalent NDCs at lower costs, helping you cut costs and track total savings – averaging $17,000 in savings for each actionable recommendation.
- Purchase short-dated inventory and access other special offers from Pfizer Hospital based on tailored recommendations specific to your facility’s purchase volumes.
- Proactively track all your purchasing contracts to identify mismatches across your system.
- Benchmark your contracts against other hospitals nationwide to stay informed on market trends.
Track and Prevent Misspending
Spot invoice overcharges, watch 340B trends, and track GPO compliance.
- Identify wholesaler overcharges and invoices, submit the errors for correction, and track the credit and rebill.
- Detect increases in spending due to changes in 340B ratios per medication and gain insights for mitigating the situation.
- Track and maintain GPO compliance for your hospital to maximize annual rebates.
Reduce Waste and Diversion
Save by reducing waste and preventing diversion.
- Adjust inventory PAR levels in kits and trays based on actual consumption to achieve up to a 92% reduction in expirations.
- Reallocate soon-to-expire inventory to high consumption areas.
- Efficiently investigate and confirm diversion while preventing future risk and improving your health system’s overall diversion strategy.
Optimize NDCs and Contacts
Ensure your hospital is purchasing the right products at the right prices.
- Identify equivalent NDCs at lower costs, helping you cut costs and track total savings – averaging $17,000 in savings for each actionable recommendation.
- Purchase short-dated inventory and access other special offers from Pfizer Hospital based on tailored recommendations specific to your facility’s purchase volumes.
- Proactively track all your purchasing contracts to identify mismatches across your system.
- Benchmark your contracts against other hospitals nationwide to stay informed on market trends.
Track and Prevent Misspending
Spot invoice overcharges, watch 340B trends, and track GPO compliance.
- Identify wholesaler overcharges and invoices, submit the errors for correction, and track the credit and rebill.
- Detect increases in spending due to changes in 340B ratios per medication and gain insights for mitigating the situation.
- Track and maintain GPO compliance for your hospital to maximize annual rebates.
Explore Our Products
RFID Inventory Management
Decrease expired and wasted medication
Diversion Surveillance
Identify and reduce theft of controlled substances
Purchasing Optimization
Reduce annual drug spend
Want to Learn more about Medication Intelligence?
Request a demo to see our medication intelligence solutions in action and discover how Bluesight can deliver value to your organization.
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