Pharmacy Spend Optimization

616-257-6300

sales@spendmend.com

SpendMend Logo link to homepage

616-257-6300

sales@spendmend.com

Pharmacy Spend Optimization

Financial Leakage Within Pharmacy

SpendMend Pharmacy leverages the expertise of Turnkey Pharmacy Solutions to deliver Optimization solutions to pharmacies across the country. Our team of over 28 pharmacy experts works with clients to customize a sequence of solutions to help reduce costs and optimize savings.

Bottom Line Impact

SpendMend Pharmacy consistently reduces annual drug spend for our clients by an average of 3%. The
percentage of savings varies based on annual spend volume, but wherever your CE lands on the chart below,
the dollars are significant.

Why CE’s Choose SpendMend Pharmacy for 340B Optimization

Drive an average of 3% savings on your annual drug spend

Work with the industry leader in spend optimization

Gain insight on the best practices of leading pharmacies

Benefit from a combined 250 years of pharmacy experience

SpendMend Pharmacy Spend Optimization Program

What We Do and What Your Covered Entity Will Receive:
date
date

Price Parity

Review wholesale spend for all purchasing accounts within a system to ensure consistent best available contract pricing.

Step Two
Step Two

Historical Price Spikes

Analytics and insights into price spikes to reverse unnecessary costs and prevent unnecessary over-spending.

Step Three
Step Three

NDC Optimization

Analytics and insights for lower cost NDC alternatives of the same drug.

 

Step Four
Step Four

Benchmarking

Analysis of GPO rates and utilization percentages to drive better COGS and ensure optimal compliance with GPO contracts.

 

Step Five
Step Five

Rebate/Contract Review

Evaluation and analysis to determine if hospitals are pursuing earned rebates from contract terms.
date
date

Biosimilars

Analytics, insights, and operational support to convert reference products to their biosimilar.
Step Two
Step Two

Price Fluctuations

Tools to anticipate future price fluctuations to optimize pharmacy costs.

Step Three
Step Three

Unit Dose (UD) to Pre-Packaging Opportunities

Review commercial UD spend and recommend savings opportunities where appropriate. (Bi-directional analysis).

Step Four
Step Four

Sales & Use Tax

Evaluation and analysis to determine if pharmacy is overpaying sales and use taxes.

Step Five
Step Five

Consignment Opportunity

Evaluation and analysis of consignment fees to help hospitals refine their consignment strategy.

“We knew all these strategies, Price Parity, Price Spikes, Unit Dose, Biosimilars… We knew it, we just didn’t have the time to put it all into motion. SpendMend brings a team of experts and showed us how much we could save. It’s staggering.”

Pharmacy Leader – Nationwide, nonprofit health system, $330M in annual drug spend.

DATA SHEET

Pharmacy Spend Optimization (PSO) Overview

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Getting Started

To get started, you only need to provide our team access to your purchasing data using our wholesaler support extraction tools. We perform all work offsite, taking care to limit time and resources required of you and your staff. The best part of it all, your hospital will never be invoiced until you actually realize the savings from our solution.

SpendMend By The Numbers

CLIENTS SERVED SINCE 2012

AUDITS COMPLETED

%

AVERAGE SAVINGS ON ANNUAL DRUG SPEND

Million 340B SAVINGS DELIVERED