Pharmacy Spend™ helps Florida member generate monthly savings
Located in Tampa, FL, H. Lee Moffitt Cancer Center & Research Institute is an NCI Comprehensive Cancer Center, a designation that recognizes excellence in research and contributions to clinical trials, prevention and cancer control. Moffitt currently has 15 affiliates in Florida, one in Georgia and two in Puerto Rico. Moffitt is a member of the National Comprehensive Cancer Network, a prestigious alliance of the country’s leading cancer centers, and is listed in U.S. News & World Report as one of “America’s Best Hospitals” for cancer. Moffitt’s sole mission is to contribute to the prevention and cure of cancer.
Situation:
Drugs are the largest supply expense for the H. Lee Moffitt Cancer Center and Research Institute. Variances from contract price can cost thousands of dollars, so it is imperative that someone monitor pharmacy expenditures regularly.
Solution:
Moffitt utilized Premier’s SpendAdvisor® PharmacySpend™ program to regularly review, compare and locate discrepancies between expenditures and supply contracts. Pharmacy Spend uses NDC-level analysis highlighting on-, off-, and non-contract spend, contract conversion opportunities, and savings opportunities with functionally equivalent products.
Result:
In 2007, Moffitt saved more than $100,000 as well as identified contract alternatives and re-bills. Further, the amount of time spent conducting the monthly analysis is less than half a workday.
" Every manager, every leader should know that there’s at least one
price variance every month. This is a way to validate that pricing is correct. …
It takes no time to use the tools in Pharmacy Spend. There aren’t any excuses."
Jon-James Tata, MHSA
Pharmacy Business Administrator
Purchasing Manager
H. Lee Moffitt Cancer Center and
Research Institute