“What’s Trending in Hospital Pharmacy in 2019” Webinar Recap
April 4, 2019 – LogicStream Health recently hosted a webinar with Becker’s Hospital Review where industry experts answered important questions about trends in hospital pharmacy in 2019. They also gave advice to help hospital and health system pharmacies be as successful as possible against various challenges like drug shortages, high-cost medications and more.
Webinar topics include:
- Priorities + challenges for hospital pharmacies in 2019
- The worsening drug shortage crisis
- Five tips to successfully manage drug shortages
Priorities + Challenges For Hospital Pharmacies in 2019
To be successful in today’s healthcare environment, health system pharmacies must prioritize efforts to address several issues simultaneously, the panelists explained. Top-of-mind topics for many pharmacies is:
- Ensuring compliance of new regulations
- Successfully navigating the era of declining reimbursement
- Managing expenditures
The Worsening Drug Shortage Crisis
The drug shortage crisis is one of the critical demands placed on hospital leadership. Shortages occur for many reasons, including manufacturing problems, product discontinuation, a spike in demand or even drug profitability.
These factors are difficult to control, but hospital pharmacy leaders have found several hacks to proactively manage the shortages.
Five Tips to Successfully Manage the Drug Crisis
- Go back to the basics. Before solving some of the more complex issues like drug shortages, ensure that the basics like time management, delegation of duties and good hiring practices are met.
- Use innovative technologies. One example of a new technology is The Drug Shortage App from LogicStream Health™, which was developed to help hospital and health system pharmacies lessen the effects of drug shortages by alerting providers to potential shortages and their impact on the hospital or health system.
- Educate and inform legislators. Providers should ensure they stay informed and support various regulations that will have positive effects for healthcare.
- Don’t hoard products. It’s important to practice good stewardship. Hospitals and health system pharmacies shouldn’t hoard products or purchase them in abundance since it can worsen shortages.
- Be vigilant when working with key stakeholders. One of the best strategies hospital pharmacies can deploy to protect the system from feeling the effects of a drug shortage is vigilance when working with key stakeholders. Having weekly internal meetings to mitigate drug shortages and meeting with purchasers can be very helpful.
Overall, pharmacy leaders have many issues to address to remain successful. However, by ensuring compliance of new regulations, staying on top of reimbursements and exercising best practices to manage drug shortages, hospital and health system pharmacies can be successful in 2019.
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The Drug Shortage App from LogicStream Health™
The Drug Shortage App from LogicStream Health™ is the newest application from LogicStream Health. It helps hospital pharmacy teams with an easy-to-use, web-based solution that manages drug shortages and minimizes disruption to patient care.