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Summary
Pharmacy departments can reduce waste and save money by optimizing medication order management and recycling unused IV medications. These strategies resulted in significant annual cost savings.
Area of Science:
- Pharmacy Practice
- Healthcare Management
- Medication Safety
Background:
- Excessive waste of intravenous (IV) medication doses presents a significant financial challenge for hospital pharmacy departments.
- Current processes for managing IV medication orders are inefficient, leading to unnecessary wastage.
Purpose of the Study:
- To develop and evaluate a two-phase plan to reduce the waste of IV medication doses.
- To quantify the cost savings associated with improved medication order management and recycling.
Main Methods:
- Phase 1: Assessed the cost of manual review of nursing Medication Administration Records (MARs) for IV order changes by technicians versus reliance on ward clerks.
- Phase 1: Compared the cost of manual review to savings from preventing the preparation and waste of discontinued IV medications.
- Phase 2: Determined cost savings from recycling unused IV medications for different patients.
Main Results:
- The implemented changes yielded an estimated annual cost saving of $8,044.00.
- Optimizing the process of identifying IV order changes reduced waste.
- Recycling of IV medications further contributed to cost reduction.
Conclusions:
- A proactive, two-phase approach significantly reduces IV medication waste and associated costs.
- Streamlining medication order verification and implementing medication recycling are effective cost-saving strategies for hospital pharmacies.
- These interventions enhance both financial efficiency and potentially medication availability.