Maximize Your Pharmacy Savings

How much does the drug you’re dispensing actually cost and are you buying it at the best possible price?  Did you know that for every medication that is generically available there is an average of 13 NDC’s that can be purchased?  With drugs and drug prices constantly changing, knowing which NDC to order and utilize is complex for even the most experienced pharmacy buyers. Contractual agreements supported by rebates, administrative fees, or 3rd party programs can cloud what on the surface seems like an easy question – is this the NDC I should buy?
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In pharmacy, it’s so complex to analyze and review the true pricing, not to mention trying to couple that analysis with current and historical utilization, tier thresholds, and other variables.  It’s even harder when you consider that most of the “tools” we do have access to are in multiple, disparate, manual solutions.  Add in the variables of the 340B Program requirements and other clinical-based programs and you soon realize how difficult, if not impossible, it is to guide purchasing within even the smallest inpatient pharmacies, let alone across an entire health system, a growing number of which include a central distribution operation. The tragedy is that we all understand that standardizing to the best NDCs and suppliers for your organization can bring significant benefits both clinically and financially.
 
Having a software solution which can ingest utilization and purchasing data from your suppliers and communicate with those suppliers can sharply improve the benefits for an organization. Imagine being able to identify and control the NDCs to order at a health system level by leveraging the preferred logic and the settings available in the Trulla Procurement Software. This ability will drive several benefits to the health system which includes:
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• Standardizing ordering practices, NDCs purchased, and suppliers
• Maximizing cost savings by improving adherence to current contracts and increasing rebates
• Optimizing 340B savings given the covered entity and patient mix
• Amplifying leverage in supplier negotiations resulting in greater discounts
• Streamlining data management and improving overall data quality
• Better support of strategic initiatives such as centralized services
• Providing greater visibility “up-chain” for suppliers, potentially assisting in shortage mitigation and optimizing stock
• Simplifying compliance with 340B and Drug Supply Chain Security Act (DSCSA) requirements
• Reducing labor required to communicate and manage corporate formulary directives in addition to shortage or other purchasing strategies
• Improving management of administrative fees

 
By leveraging the analytics derived from current spending patterns and the software which can set default, preferred NDCs, Trulla is uniquely positioned to identify your best opportunities and deliver results by allowing leaders to easily implement decisions across your health system. The impact of Trulla is amplified as health systems become increasingly complex. Trulla’s software is specifically designed to enable the selection of preferred NDCs to meet the needs of corporate and/or local initiatives and to continuously guide users throughout the procurement process. Finally, the industry has a tool to not only direct you to savings within your pharmacy spend, but to implement decisions and track the benefits they deliver!  Isn’t it time to maximize your pharmacy savings?