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Related Experiment Videos

Cost savings and avoidance from clinical interventions

A H Mutnick1, K J Sterba, J A Peroutka

  • 1Department of Pharmaceutical Care, University of Iowa Hospitals and Clinics, Iowa City 52242, USA.

American Journal of Health-System Pharmacy : AJHP : Official Journal of the American Society of Health-System Pharmacists
|February 15, 1997
PubMed
Summary

Pharmacist interventions significantly reduce healthcare costs. Documenting these interventions helps quantify savings and avoid unnecessary hospital days, demonstrating the financial value of clinical pharmacy services.

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Area of Science:

  • Health Economics
  • Clinical Pharmacy Practice
  • Healthcare Management

Background:

  • Pharmacist interventions are crucial for optimizing patient care and managing healthcare expenditures.
  • Quantifying the financial impact of pharmacist-led initiatives is essential for demonstrating value within healthcare institutions.

Purpose of the Study:

  • To describe a method for collecting and analyzing data on cost savings and avoidance from pharmacist interventions.
  • To evaluate the financial impact of a pharmacist intervention program at a large healthcare institution.

Main Methods:

  • Pharmacists evaluated patient cases, disease states, and drug therapy appropriateness, documenting recommendations and outcomes.
  • Data were entered into the medication order-entry system with severity codes; a committee analyzed cost savings and avoidance using diagnosis-related group data.

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  • Financial assessment involved calculating drug acquisition costs, laboratory expenses, therapy changes, and prevented hospital days.

    • Main Results:

    • Over a 10-month period, 4648 pharmacist interventions were documented by 50 staff members.
    • 87% of interventions were accepted by medical staff, resulting in net therapy cost savings of $487,833.
    • An additional $158,563 in cost avoidance was achieved by preventing 371.9 potential hospital days.

    Conclusions:

    • The described method effectively quantifies the financial benefits of pharmacist interventions.
    • Pharmacist interventions represent a significant source of cost savings and cost avoidance in healthcare settings.
    • Implementing robust data collection and financial assessment is vital for optimizing pharmacy department contributions.