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How Accurate are Drug Expiration Dates and Could Ignoring Them Save Millions?

With drug prices increasing 7.3% a year, hospitals are doing everything they can to cut back on spending. Beyond finding ways to reduce costs—including increasing inventory transparency and proactively navigating drug shortages—industry leaders are working to extend existing drug inventories…

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Benefits of Insourced, Automated IV Compounding: Lessons in Successful Implementation from the University of Rochester Medical Center

Medication compounding is a complicated and high-stakes operation that many hospitals have outsourced to compounding centers in an effort to save money and cut down on liability. However, recent high-profile events where sterility and safety issues have resulted in patient…

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Steps Hospitals Can Take to Mitigate Rising Drug Costs

Skyrocketing drug prices took over healthcare headlines in 2016, with price jumps often hitting triple digit percentages. As a result, hospitals and legislators are speaking out about the unsustainability of continued increases and the impact they have on patient care….

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News Corner: Hospital Efforts Save 125,000 Lives, $28 Billion in Costs

Hospitals have increasingly focused their efforts on improving patient care while remaining cost conscious, and those efforts are paying off. A report from the Department of Health and Human Services (HHS) states that from 2010 to 2015, hospitals were able…

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Navigating the Shift to Price Transparency

As deductibles and out-of-pocket expenses rise, so does the pressure for hospitals and other healthcare services to increase price transparency. Over the last five years, we have seen multiple healthcare promotion policy acts introduced in Congress. While no federal bill…

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Technology’s Role in Navigating Hospital Drug Spend

A recent study by the American Hospital Association and the Federation of American Hospitals showed that between 2013 and 2015, inpatient drug spending increased an average 23.4 percent annually, and 38.7 percent on a per admission basis. Given the recent…

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Medication Reconciliation Programs Shown to Reduce Readmissions

With growing concerns over readmission rates, many hospitals have chosen to take advantage of the value that pharmacists bring to the job by enlisting their services to set up medication reconciliation programs as part of the discharge process. These programs…

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News Corner: ICU at Home: A New Care Model to Reduce Costs

Stakeholders in all areas of the hospital seek to reduce costs and readmissions while maintaining excellent patient care. The latest initiative gaining popularity involves providing intensive care at home, which has the potential to ease bed-capacity problems, cut costs, and…

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Pharmacy Automation on the Rise

Reports are showing an increase in the adoption of pharmacy automation. This can be attributed to the crackdown on the increasing number of preventable medical errors, which, according to an article on WhaTech.com, pharmacists and healthcare providers are being tasked…

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News Corner: NQF Guidelines Support HIT Innovation and Patient Safety

Health IT continues to skyrocket, supporting hospitals and providers as they strive for increased efficiency and cost savings. However, throughout this progress, the patient cannot be forgotten. The National Quality Forum (NQF) has released their “Identification and Prioritization of Health…

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