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Clients save Millions in Drug Spend through the use of Innovative Pharmacy Analytics for Hospitals and Health Systems
Comprehensive Pharmacy Services RxClinical Analytics 2.0 is a Gamechanger for Managing Drug Hyperinflation and Clinical Performance
MEMPHIS, Tenn., Oct. 22, 2018 (GLOBE NEWSWIRE) -- Comprehensive Pharmacy Services (CPS) announced today the release of its innovative second generation pharmacy analytics tool – RxClinical Analytics 2.0 (RCA 2.0) – that targets reducing drug cost for hospitals and health systems while sustaining and improving clinical quality. In the era of value-based care and hyperinflated drug costs negatively impacting hospital and health systems margins, RCA 2.0 is a proven tool that enables improved clinical care while lowering drug costs. To date, the RCA platform has delivered CPS clients millions of dollars in drug savings while standardizing care and elevating clinical results.
By combining data analytics with clinical documentation in a seamless view, the CPS RCA 2.0 application evaluates over 300 CPS proprietary clinical initiatives against the hospital’s drug purchases. Once target medications are found, the comparative drug therapy is identified that improves clinical quality, and/or drives down cost, and typically accomplishes both. Once all purchases have been evaluated, RCA 2.0 provides a prioritized listing of what protocols or initiatives have the greatest opportunity for improvement.
In addition, the proprietary CPS RCA 2.0 aligns and recommends peer reviewed documents and reference materials within CPS’ curated proprietary clinical content database, RxIntelnet. CPS clinicians review, maintain and update the database, which now includes over 5,000 content pieces, on a regular basis. The content database includes assessment tools, clinical publications, and information critical to pharmacists. This material is searchable and designed intuitively so pharmacists can easily locate and link to the right information. CPS RCA 2.0 provides links to the clinical support documentation for each recommended protocol. The pharmacist is also able to take the RCA 2.0 output to P&T comittees or hospital administration in order to make the change across the hospital or health system.
The information generated from the RCA 2.0 upgrade allows CPS client pharmacists to get a full picture of the financial and clinical aspects of the therapy conversion in one document that facilitates conversations with hospital stakeholders across the continuum of care. This enables care teams to capture more savings because the pharmacist no longer needs to extensively research the alternate therapy and pull all of that information together.
RCA 2.0 provides new differentiated capabilities to the marketplace for hospital and health system pharmacies that include:
- RCA 2.0 not only identifies a comparable lower cost therapy, it also provides the clinical research documentation and justification for why the comparable therapy is just as good or better than the higher cost therapy. Other programs in the marketplace simply locate a lower priced drug.
- RCA 2.0 provides analysis of direct drug purchases.
- RCA 2.0 provides vendor information for accessing the lower priced therapy.
- Patients and payors also benefit directly by saving on a lower cost therapy. Additionally, the application monitors drug hyperinflation to spot opportunities to manage cost on a daily basis.
- To date, the RCA application has saved hundreds of CPS clients millions of dollars in drug costs while supporting the highest quality of pharmacy care.
“By constantly surveilling medication costs that cut into a hospital’s already thin bottom line and identifying clinical alternatives, RCA 2.0 is reducing costs for our hospital and health system clients,” said Greg Bedenkop, PharmD, Division VP for Clinical Analytics at CPS. “Combined with the supporting resource documentation and monitoring success of clinical conversion efforts at the site means a win-win for every stakeholder across the continuum of care.”
To learn more about the CPS RCA 2.0 application, email: firstname.lastname@example.org or call: 800.968.6962.
About Comprehensive Pharmacy Services
Founded nearly 50 years ago and employing over 2,500 pharmacy professionals, Comprehensive Pharmacy Services is the nation’s largest provider of pharmacy services to more than 800 hospitals and healthcare facilities nationwide. CPS helps their clients tackle complex problems such as hyper-inflated drug costs, specialty pharmacy, ambulatory/retail strategy, operational effectiveness and staffing efficiency. In addition, they address 340B programs, a variety of compliance concerns, and much more. CPS helps pharmacy leaders drive cost, quality and safety improvements across the continuum of care. For more information, visit http://www.cpspharm.com.
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