How Beverly Hospital discovered an annual cost savings opportunity of more than $200,000.
Beverly Hospital, a small community health system with three hospitals and 340 beds, discovered a new strategy for reducing drug purchasing costs and increasing operational efficiency by collaborating with Yankee Alliance, a regional group purchasing organization (GPO), and Safecor Health, an FDA-registered unit-dose repackaging vendor.
In-house packaging often seems like a convenient options but it likely comes with a hefty price. We tend to forget about a lot of the underlying expenses — like equipment and labor. Our infographic below provides a great example of what the true cost of in-house packaging really looks like.
For many hospitals, in-house repackaging often seems like the most cost-effective way to package drugs into unit-dose. Unfortunately, with limited resources, hospital pharmacies don’t always have the time needed to focus on packaging. To offset staff time spent on packaging, many pharmacies purchase whatever is available in commercial unit-dose. Unfortunately, many of those unit-dose purchases have a significant cost premium versus bulk bottles.