Pharmacy Cost Optimization
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 drug purchasing management and procurement cost optimization solution, CostCheck modernizes medication procurement by providing unparalleled transparency. It unites industry-wide pricing data with health system-specific contracts, invoices, and consumption. Our customers optimize their hospital pharmacy cost containment strategies, prevent overcharges, and maximize returns on time – achieving significant savings with just 30 minutes a week.
The Need for Pharmacy Cost Optimization Solutions
PRICE FLUCTUATIONS
Hospitals juggle 20,000 NDCs each day and face 10,000 weekly price updates—without real-time tracking, every shift threatens to blow your budget
INVOICE ERRORS
Hidden billing mistakes slip through unchecked invoices; bleeding margins and forcing time-consuming reconciliations.
340B SPENDING
Untracked 340B purchases erode program savings, expose you to audit penalties, and drain revenue.
GPO COMPLIANCE
Missing GPO contract requirements forfeits rebates and weakens your buying power, undermining hard-won discounts.
The Solution: Drug Procurement Cost Optimization
Optimize Purchasing Across NDCs and Suppliers
Drug pricing optimization guarantees hospitals and health systems are purchasing the right products at the right prices, ultimately cutting costs while tracking total savings. CostCheck offers pharmacy procurement cost optimization that pinpoints alternative equivalent NDCs at lower costs – averaging up to $15,000 in savings per recommendation – and compares pricing across suppliers to help you maximize spend across primary and secondary wholesalers.
Through an integration with ShortageCheck, hospitals can also balance immediate savings with supply stability with built-in flags that signal potential NDC shortages up to 90 days ahead – designed to support more informed procurement decisions.
Additionally, health systems can now leverage cost-savings and 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 and Rebates
For hospitals in the 340B program, CostCheck brings decision intelligence to 340B purchasing. It tracks WAC and GPO ratio changes, surfaces potential exclusion issues early, and sends immediate alerts when a purchase may create risk.
For your 340B Rebate operations, CostCheck supports upfront decision making by identifying equivalent alternatives outside of the rebate program – helping you avoid WAC cash flow pressure and 45-day reconciliation windows entirely. When rebate-eligible purchases are necessary, it compares all pricing paths across WAC, post-rebate 340B, and MFP pricing before you purchase. CostCheck then flags invoices requiring submission, monitors payment windows, and manages reconciliation for full visibility into every rebate dollar. When paired with 340BCheck’s validated claims data, Bluesight customers gain a seamless flow from purchase decision through payment receipt.
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.
Optimize Purchasing Across NDCs and Suppliers
Drug pricing optimization guarantees hospitals and health systems are purchasing the right products at the right prices, ultimately cutting costs while tracking total savings. CostCheck offers pharmacy procurement cost optimization that pinpoints alternative equivalent NDCs at lower costs – averaging up to $15,000 in savings per recommendation – and compares pricing across suppliers to help you maximize spend across primary and secondary wholesalers.
Through an integration with ShortageCheck, hospitals can also balance immediate savings with supply stability with built-in flags that signal potential NDC shortages up to 90 days ahead – designed to support more informed procurement decisions.
Additionally, health systems can now leverage cost-savings and 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 and Rebates
For hospitals in the 340B program, CostCheck brings decision intelligence to 340B purchasing. It tracks WAC and GPO ratio changes, surfaces potential exclusion issues early, and sends immediate alerts when a purchase may create risk.
For your 340B Rebate operations, CostCheck supports upfront decision making by identifying equivalent alternatives outside of the rebate program – helping you avoid WAC cash flow pressure and 45-day reconciliation windows entirely. When rebate-eligible purchases are necessary, it compares all pricing paths across WAC, post-rebate 340B, and MFP pricing before you purchase. CostCheck then flags invoices requiring submission, monitors payment windows, and manages reconciliation for full visibility into every rebate dollar. When paired with 340BCheck’s validated claims data, Bluesight customers gain a seamless flow from purchase decision through payment receipt.
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.
$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
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 two years, Sentara realized savings of over $3.45 million – an outcome that equates to about $8,800 of drug spend eliminated for each hour spent using CostCheck.
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Learn MoreWhat 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
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