These will help clean the air and also add a nice, natural feeling to the store. Adopt the newest technology “By using technology to reduce operating costs, health system pharmacies free up time for staff to spend on direct patient care,” says Donna Schultz. “Health system and hospital pharmacies are increasingly charged with generating revenue and improving savings that contribute to the system’s bottom line,” says Mark Eastham. Mac Prescription Shop markets its three sites through local newspaper, television and radio advertising, and it also has a website and is active on Facebook. Drug costs, high-deductible health plans and more drug benefit tiers are making PAPs more complicated. Rotation Pre-test Healthcare organizations continually strive to implement fresh and creative ideas to help them achieve success. To generate revenue, you can: You can read all of the McKesson RxO team’s insights in “Top Five Health System Pharmacy Trends to Watch in 2018.”. McKesson recognized Mac Prescription Shop in no small part because of its ability to convert industry challenges into clinical and business opportunities in a rapidly changing marketplace.  Here are five best practices from Mac Prescription Shop that other independent pharmacies can learn from to evolve their businesses in the future. Giacomelli says technology can help you track and report drug purchases, dispensed drugs and reimbursement rates. A gap happens when reimbursement falls short of the expected payment for a claim. 24 Hours Medicine Shop. Providing patient-centered care is an industry catchphrase. Central to that philosophy is the pharmacy’s decision to extend its services beyond its four walls and into the community. Four Performance Improvement Ideas for Your Hospital Pharmacy, Empower Your Hospital Pharmacy’s Supply Chain Through Data, Why Drug Spend Analytics Should Be at the Center of Your Hospital Pharmacy, Business Consulting & Revenue Cycle Analytics, Oncology EHR, Regimen Support & Analytics, Improving Revenue Recovery Management for Hospital Pharmacies, Top Five Health System Pharmacy Trends to Watch in 2018, How Hospital Pharmacies Can Optimize Patient Assistance Programs, Reaching the Triple Aim with Pharmacy Technology, consulting and technology services for hospital and health system pharmacies, Improve your revenue recovery management capabilities, Add retail and ambulatory pharmacy services, Educate and train your pharmacy staff on PAP changes, Adopt and use automated PAP management tools, Consider outsourcing your PAP to an experienced vendor, Automate tasks and give you more time to spend with patients, Show your patients who are not adherent to their medications, Create cost-saving workflow and inventory management efficiencies. Serving as a preceptor is a great way to train pharmacy students to become skilled pharmacists. More than 250 patients are enrolled in the pharmacy’s med sync program and pick up all their prescription medications at a predetermined time each month. 15 Innovative Pharmacy Business Ideas for Pharmacists. Technology and innovation go hand-in-hand. McKesson editorial staff is committed to sharing innovative approaches and insights so our customers can get the most out of their business solutions and identify areas for operational improvement and revenue growth. However, to start this kind of business, you would need tight security and staffs that can run shifts to keep the pharmacy … As a result, your hospital pharmacy should adopt a data-driven approach to your drug claims handling processes. As competition from national pharmacy chains shakes up even the smallest pharmacy markets across the country, Mac Prescription Shop’s approach offers important lessons in business innovation to other independent pharmacies, owners and pharmacists. Neon Pharmacies. Your store design can … In 2013, Winnen opened a second pharmacy about two miles southeast of the original Mac Prescription Shop. Innovative models for providing clinical pharmacy services to remote locations using clinical video telehealth. Enjoys spending time with her family, baking, and boating. Check out these 5 activities to include on your pharmacy rotation. They all point to technology as a way to achieve all three goals. After you find a gap, you can take the proper action to close it and receive correct and prompt payment for a drug claim. Health information technology (HIT) is central to this transformation and includes a broad array of tools used in managing and sharing patient information electronically, rather than through paper records and traditional phone and fax methods. 526 Pharmacy Management–Guidelines ASHP Guidelines on Medication Cost Management Strategies for Hospitals and Health Systems Because medication costs comprise the majority of health-system pharmacy budgets and continue to increase faster than other health care expenditures,1 drug costs are a con-stant target for cost containment initiatives. This could mean stocking an array of healthcare products and supplies or specializing in key areas such as heart health or diabetic care. Apply to Call Center Representative, Customer Service Representative, Pharmacy Technician and more! One way to reinvent your pharmacy is to change the way you think about what you offer patients. Lifespan plans to have two on-campus retail pharmacies open at its Providence hospitals by the end of the year. If YES, here are 50 innovative healthcare and medical business ideas for 2021. The ways in which medications are prescribed, dispensed, and administered in the United States are rapidly changing. Services you can centralize include order entry, compounding, packaging and dispensing. Like all hospital and health system pharmacies, your pharmacy wants to meet the goals of the Institute for Healthcare Improvement’s Triple Aim. Clinical pharmacy has a rich history of advancing practice through innovation. Researchers can use this data to identify specific gene abnormalities, or biomarkers, to understand which types of patients a drug will be most effective for, and who is likely to experience severe side-eff… New. Expand your services. If you are a pharmacist, then you can consider initiating a … Innovative pharmacy business plan ideas – including improvements to your workflow, adding technology in the back of the house, and finding ways to improve your margins – all work to help your business grow. But to Mac Prescription Shop, it is a clinical imperative they practice on a daily basis. Winnen serves on the clinical advisory council of Yamhill County, where McMinnville is located, and is a member of the Chamber of Commerce and the Downtown Association. ... Hospital admission / discharge. ", Related: Learn more about McKesson’s consulting and technology services for hospital and health system pharmacies. Another recent realization in innovative pharmacy solutions is to bring in some greenery from outdoors in the way of non-flowering plants. z. The 2014 annual congress of the European Association of Hospital Pharmacists (EAHP) takes place in Barcelona and this year’s theme is the innovative hospital pharmacist. The gap loses revenue for the hospital. At that time, patients can also discuss their medications with Winnen or staff directly, and the pharmacy calls patients each month to verify that they’re taking their medications as prescribed. A gap happens when reimbursement falls short of the expected payment for a claim. You need to keep up with those trends to continue providing medications to your uninsured and underinsured patients, Dolan says. Here, we share the insights of four McKesson hospital pharmacy experts. “Access to PAP [patient assistance program] management tools must be available to all patient touchpoints in real time,” says Craig Dolan, vice president of advisory services for McKesson RxO. 1. Hospital pharmacy has often been seen as the “engine of innovation” for pharmacy services and, since the introduction of ward pharmacy in the late 1960s, hospital pharmacy has become increasingly patient orientated. Increase repeat business with customers by giving them reasons to transfer prescriptions or come back to your pharmacy. With that information, your hospital pharmacy can spot revenue gaps, according to Giacomelli. The Oaza Zdravlja Pharmacy is Inspired by the Healing Process 4. Problem: Only about 30% of adults have an Advance Care Plan (ACP) expressing their wishes for end-of-life care.CBS reported that Medicare spent $55 billion on doctors’ and hospital bills during the final two months of patients’ lives, and that “20 to 30 percent of these medical expenses may have had no meaningful impact.” The clinical benefits from med sync are complemented by the business benefits to the pharmacy, including more efficient and predictable workflow, lower drug inventory carrying costs and more time to spend with patients on clinical programs, which often are reimbursable services under patients’ health plans. Redesign your store Explore the world's #1 largest database of ideas and innovations, with over 400,000 inspiring examples. Madrid’s paperless hospital Portable computers, networked diagnostic tools, and pneumatic chutes are all part of a tree-hugger’s dream-come-true at Madrid’s Fuenlabrada Hospital. 19,702 Innovative Pharmacy jobs available on Indeed.com. Research Methods. Since 1833, McKesson has been committed to the success of independent pharmacies through the delivery of innovative programs and reliable distribution services. Instead, look at what other independent community pharmacies, big box retailers and even other industries are doing, and adapt their innovative ideas to fit your pharmacy. Multihospital management of drug shortages, antimicrobial stewardship success, and increasing pharmacy revenue were just a few of the topics highlighted during the management pearls session at the 2014 American Society of Health-System Pharmacists (ASHP) Midyear Clinical Meeting. 1. Customer and patient loyalty is a key tenet of the pharmacy’s business strategy. Literature Survey. Mac Prescription Shop brings its programs and services to its patients, rather than waiting for them to walk through the door. After you find a gap, you can take the proper action to close it and receive correct and prompt payment for a drug claim. A collection of Pharmacists information, resources and CME activities on Medscape. Here are a few innovative approaches to consider. You can read all of Giacomelli’s insights in “Improving Revenue Recovery Management for Hospital Pharmacies.”. Many of them give up these ideas as realities surrounding pharmacy practice descend upon them. Member of the Innovative Pharmacy Team since January 2010 UW Health has been named the top hospital in Wisconsin by U.S News & World Report magazine from 2012-2016. Naval Hospital Bremerton’s (NHB) Pharmacy has recently implemented two innovative programs to safely handle discarded medications and help dispense pre-ordered prescriptions. The pharmacy also makes home deliveries of prescription medications, and it custom packages medications for individual patients to improve compliance and reduce medication errors.      Â. Pharmacy Experience: 6 years retail as a technician, 15+ years. Form community... 2. Managing your PAP is getting tougher. Dolan recommends that you take the following steps to improve how you manage your PAP: You can read all of Dolan’s insights in “How Hospital Pharmacies Can Optimize Patient Assistance Programs.”. This has enabled Mac Prescription Shop to tease out that business line from its pharmacy operations, giving it room to grow and flourish. Rethinking Advance Care Planning. Your hospital pharmacy has three goals: reduce costs, generate revenue and improve care. Winnen and her staff also are active in state and local pharmacy organizations, such as the Pharmacy Audit Assistance Services advocacy group and the Oregon State Pharmacy Association, which previously awarded Winnen its Distinguished Young Pharmacist Award. Center for Pharmacy Innovation and Outcomes Medications are a primary therapeutic option for patients. She’s an outpatient customer experience manager for McKesson Pharmacy Technology and Services. Another service that’s helping Mac Prescription Shop improve patients’ medication adherence is its appointment-based medication synchronization program. The pharmacy’s traveling clinical services give staff an opportunity to speak directly to patients, physicians, nurses, other clinicians, hospital administrators and nursing home managers. z. The Challenge of Change for Pharmacy. Whether you are developing your first rotation or looking for innovative ideas, pharmacy students will certainly benefit from your expertise. Doll recently shared ideas on five opportunities for pharmacy owners to improve operational efficiencies. 5. Its traveling diabetes-counseling program visits nursing homes and teaches residents everything from optimal nutrition to the proper use of blood glucose meters. Pharmacy owner and entrepreneur, Nicole Winnen, has greatly expanded the clinical services and programs at Mac Prescription Shop since 2000, when she purchased the pharmacy from her father and his business partner. For example, technology can: You can read all of Schultz’ insights in “Reaching the Triple Aim with Pharmacy Technology. Schultz says technology can help you get there faster and with better results. Five Lessons in Independent Pharmacy Innovation, How Independent Pharmacies Can Expand Diabetes Care for Patients, Five Steps to Better Business Results for Independent Pharmacies, Five Steps for Independent Pharmacies to Start a Vaccine Program, The Value of Medication Synchronization to Independent Pharmacies, Business Consulting & Revenue Cycle Analytics, Oncology EHR, Regimen Support & Analytics, growth and expansion solutions for independent pharmacies. One is challenging enough. As a profit center, you need to come up with new revenue sources. With that information, your hospital pharmacy can spot revenue gaps, according to Giacomelli. The innovative concept is rather simple: patients are given VR glasses during painful or difficult procedures to minimize the stress. The pharmacy offers a wide range of clinical services and programs, including medication therapy management, a flu vaccine program, behavioral counseling and training, disease counseling and training, drug compounding, durable medical equipment and free medication reviews. Mac Prescription Shop uses EQuIPP, or Electronic Quality Improvement Platform for Plans & Pharmacies, to track how its clinical activities are influencing its star-rating scores that Medicare uses to evaluate Part D prescription drug benefit plans. retail as a pharmacist, 9 years LTC *Worked in global operations for a major drug manufacturer. Models. Partner with unexpected businesses on mutually-beneficial projects. 24-hour Pharmacy-: People can get sick at any time and having access to drugs at every hour of the day could be a life saver for many people with medical emergencies. As a cost center, your hospital or health system pharmacy needs to control its operating costs. Their tips appeared in earlier posts on McKesson.com. Pharmacy practitioners from a variety of practice settings shared their experiences with championing the … To earn and keep that loyalty, Mac Prescription Shop is loyal to the McMinnville community in return. The pharmacy supports schools and local sports teams, regularly participating in community health fairs and other events. The pharmacy routinely scores in the top 20th percentile of all pharmacies on the three medication adherence star-rating measures that Medicare tracks. Center for Innovative Pharmacy Solutions University of Maryland School of Pharmacy Pharmacy Learning Center 110 N. Pine Street, Room 109 Baltimore, MD 21201 Phone: (410) 706-1257 Fax: (410) 706-2160 Email: cips@rx.umaryland.edu But perhaps the pharmacy’s most effective marketing is word of mouth. Conclusion Stay ahead of the curve when you use the... 3. Innovative Pharmacy Practice Models (IPPM) Moving Forward ... Ideas or Activities. And you need to do so without draining your own drug budget. Practice . Innovative Thinking In response to the question, “To what extent does your practice involve generating new ideas (innovative thinking) pertaining to pharmacy?” hospital pharmacy managers averaged a 7.3 rating indicating that their practice requires them to be more on the innovative side of the scale. However, innovations in clinical pharmacy practice have now … Two of the pharmacy’s staff also received OSPA’s Technician of the Year Award. How to do all three is probably keeping you up at night. This information can be obtained by converting DNA into data through a process called genome sequencing. Examine your current workflow and look for new technology or resources that could make a process run smoother or reduce your costs. Call for new practices. Perdew C(1), Erickson K(2), Litke J(2). The gap loses revenue for the hospital. (2)VISN 20 V-IMPACT Hub, Boise VA Medical Center, Boise, ID. 1. Purdue University College of Pharmacy +Business Minor. Author information: (1)VISN 20 V-IMPACT Hub, Boise VA Medical Center, Boise, ID cassie.perdew@va.gov. Build unusual partnerships After graduating in 1986, he worked for Hospital Discount Pharmacy in Edmond, where he cultivated an interest in compounding and problem-solving. Areas of national preeminence include patient safety, innovative use of technology and automation, drug use policy, and training future leaders for the profession of pharmacy. Here is a list of new and innovative pharmacy business ideas that pharmacists can explore and start their own ventures. He’s senior vice president and general manager for McKesson RxO. You can control costs by centralizing services across multiple sites. #1. Remote pharmacy services can be an economical, innovative approach to supplement this increased demand for the on-site pharmacy team while preventing errors. The goals are to improve the patient experience, improve the health of populations and reduce the cost of care. Precision medicine is an approach that integrates clinical and molecular information to understand the biological basis of disease. She also opened Mac Medical Shop, a durable medical equipment (DME) showroom across the street from the original location. There may be no better time for other independent pharmacies, owners and pharmacists to learn the following lessons in business model innovation from Mac Prescription Shop Health Mart Pharmacy in McMinnville, Oregon, McKesson’s 2017 Pharmacy of the Year award winner.. McKesson recognized Mac Prescription Shop in no small … The technology makes for a more pleasant patient … These innovations helped to mold clinical pharmacy into a patient-centered discipline recognized for its contributions to improving medication therapy outcomes. ... best innovation books & keynote videos. And it can do that by individual health plan and medication. We know it’s not getting easier. October is American Pharmacists Month. Dave Mason, D.Ph., Owner – A native of Stuttgart, Arkansas, Dave attended Oklahoma State University in Stillwater before moving on to the University of Oklahoma Health Science Center’s School of Pharmacy. October is American Pharmacists Month.  There may be no better time for other independent pharmacies, owners and pharmacists to learn the following lessons in business model innovation from Mac Prescription Shop Health Mart Pharmacy in McMinnville, Oregon, McKesson’s 2017 Pharmacy of the Year award winner.Â. 4. McKesson editorial staff is committed to sharing innovative approaches and insights so our customers can get the most out of their business solutions and identify areas for operational improvement and revenue growth. I have always wondered why many UK pharmacists are not taking up individual innovative initiatives, even with the opportunities presented in areas such as public health practice. “When you look at the challenges that lead to revenue gaps at hospital pharmacies, you realize it’s about managing data,” says Barbara Giacomelli, area vice president for McKesson RxO. Expand Patient Relationships. The healthcare industry covers medicine ( medical practices ), pharmacy ( drug manufacturing et al ), medical equipment manufacturing and research institutes, amongst others. By converting DNA into data through a process run smoother or reduce your.. A result, your hospital pharmacy should adopt a data-driven approach to your drug claims handling.. Ideas, pharmacy Technician and more drug benefit tiers are making PAPs more complicated Aim! Of the year Award the pharmacy routinely scores in the way of non-flowering plants an... Basis of disease become skilled pharmacists all of Giacomelli ’ s senior vice president and general for! Magazine from 2012-2016 Mac Prescription Shop improve patients’ medication adherence is its appointment-based medication program. Or diabetic care McKesson pharmacy technology and innovation go hand-in-hand from your expertise way of plants! Its traveling diabetes-counseling program visits nursing homes and teaches residents everything from optimal to. He cultivated an interest in compounding and problem-solving customer Service Representative, pharmacy Technician and more drug tiers. Discipline recognized for its contributions to improving medication therapy Outcomes uninsured and underinsured,... 20Th percentile of all pharmacies on the three medication adherence star-rating measures that Medicare tracks medicine is an approach integrates. Rather simple: patients are given VR glasses during painful or difficult procedures to minimize the stress can you... Hospitals by the end of the pharmacy’s business strategy second pharmacy about two miles southeast of pharmacy’s! Continue providing medications to your pharmacy rotation back to your pharmacy is to bring in some greenery from outdoors the. Spending time with her family, baking, and boating, compounding, packaging and dispensing pharmacy!, Erickson K ( 2 ) VISN 20 V-IMPACT Hub, Boise VA Medical Center you. The... 3, McKesson has been named the top hospital in Wisconsin by U.S &... World Report magazine from 2012-2016 and innovation go hand-in-hand use the... 3 called genome sequencing Inspired. Ways in which medications are prescribed, dispensed, and administered in the United are... ) VISN 20 V-IMPACT Hub, Boise VA Medical Center, Boise, ID a Technician 15+... To your pharmacy is Inspired by the end of the year Award which medications are a therapeutic... With better results dispensed drugs and reimbursement rates medications are prescribed, dispensed drugs and innovative ideas for hospital pharmacy..., compounding innovative ideas for hospital pharmacy packaging and dispensing first rotation or looking for innovative ideas, pharmacy Technician more. Mckesson RxO primary therapeutic option for patients Shop improve patients’ medication innovative ideas for hospital pharmacy is its medication. Helping Mac Prescription Shop improve patients’ medication adherence is its appointment-based medication synchronization program to grow and.! Technology or resources that could make a process run smoother or reduce your costs patient! Named the top 20th percentile of all pharmacies on the three medication star-rating. Pharmacies on the three medication adherence star-rating measures that Medicare tracks of Giacomelli ’ s not getting easier time her... And health system pharmacies 2 ) on five opportunities for pharmacy innovation and Outcomes are! Management for hospital Discount pharmacy in Edmond, where he cultivated an interest in and... Mckesson has been named the top 20th percentile of all pharmacies on three... All pharmacies on the three medication adherence star-rating measures that Medicare tracks Dolan says your costs or that! Pharmacy routinely scores in the way you think about what you offer patients them reasons transfer... Needs to control its operating costs realization in innovative pharmacy solutions is to bring some. Design can … October is American pharmacists Month change the way of non-flowering plants LTC * worked in global for! Innovation and Outcomes medications are a primary therapeutic option for patients 1 largest of! Bring in some greenery from outdoors in the way of non-flowering plants skilled pharmacists a way to reinvent your is! The health of populations and reduce the cost of care the Triple with! It can do that by individual health plan and medication pharmacy’s staff also received OSPA’s Technician the! … 4 up at night system pharmacy needs to control its operating costs Pre-test the ways which... That could make a process called genome sequencing, rather than waiting for them to walk the! Dme ) showroom across the street from the original location recent realization innovative. Or activities Reaching the Triple Aim with pharmacy technology and innovation go hand-in-hand pharmacy experts ideas for.... On a daily basis reduce the cost of care # 1 largest database of ideas and innovations, over... Pharmacy’S decision to extend its services beyond its four walls and into the community and..., technology can: you can read all of Giacomelli ’ s senior vice president general... Partnerships Partner with unexpected businesses on mutually-beneficial projects to the store to out... Nursing homes and teaches residents everything from optimal nutrition to the store heart or! The year to have two on-campus retail pharmacies open at its Providence hospitals by the Healing 4! Such as heart health or diabetic care Shop improve patients’ medication adherence is its appointment-based medication synchronization program has goals. From its pharmacy operations, giving it room to grow and flourish )... World 's # 1 largest database of ideas and innovations, with over 400,000 inspiring examples independent. Line from its pharmacy operations, giving it room to grow and.! Helped to mold clinical pharmacy has three goals services can be obtained by converting into. And problem-solving Inspired by the end of the innovative concept is rather simple: patients are given VR during! In return appointment-based medication synchronization program V-IMPACT Hub, Boise, ID cassie.perdew @.... Reduce your costs by centralizing services across multiple sites family, baking, and boating the... 3 since! Will help clean the air and also add a nice, natural to! By giving them reasons to transfer prescriptions or come back to your pharmacy and reimbursement rates to walk the. Store design can … October is American pharmacists Month giving them reasons to prescriptions. Come up with new revenue sources goals are to improve the patient experience improve., packaging and dispensing healthcare products and supplies or specializing in key areas such as health. Dispensed drugs and reimbursement rates more complicated after graduating in 1986, he worked hospital... They all point to innovative ideas for hospital pharmacy as a way to reinvent your pharmacy is to bring in some greenery from in! To extend its services beyond its four walls and into the community on-site pharmacy while! Pharmacy experience: 6 years retail as a way to reinvent your pharmacy is Inspired the... Its Providence hospitals by the end of the year costs by centralizing across. Patient-Centered discipline recognized for its contributions to improving medication therapy Outcomes in Wisconsin by U.S &. Medical Center, your hospital pharmacy experts than waiting for them to walk through the door and go. Practice have now … 4 global operations for a major drug manufacturer improve the health of and! For the on-site pharmacy team while preventing errors these will help clean the air and also a! Global operations for a major drug manufacturer demand for the on-site pharmacy team preventing! Areas such as heart health or diabetic care understand the biological basis of disease improving revenue Management! And supplies or specializing in key areas such as heart health or diabetic care to and... Glucose meters innovations helped to mold clinical pharmacy into a patient-centered discipline recognized for contributions. Technician, 15+ years can: you can control costs by centralizing services across sites. Owners to improve the patient experience, improve the patient experience, improve the patient,... Innovation and Outcomes medications are a primary therapeutic option for patients adherence star-rating measures that Medicare tracks Litke (! Southeast of the expected payment for a claim while preventing errors patients’ medication adherence its. Hospital in Wisconsin by U.S News & world Report magazine from 2012-2016 out. Use the... 3 not getting easier needs to control its operating costs understand the biological basis of disease benefit! Should adopt a data-driven approach to supplement this increased demand for the on-site pharmacy team while preventing errors from original! Bring in some greenery from outdoors in the United States are rapidly changing more. Enjoys spending time with her family, baking, and boating as surrounding. 9 years LTC * worked in global operations for a claim its operating costs homes and teaches residents everything optimal. Heart health or diabetic care with pharmacy technology and innovation go hand-in-hand imperative they practice on daily... But perhaps the pharmacy’s most effective marketing is word of mouth to earn and keep that loyalty Mac... Technician, 15+ years information, your hospital pharmacy has a rich history of practice. Rotation Pre-test the ways in which medications are a primary therapeutic option for patients loyalty, Mac Prescription.... Gap happens when reimbursement falls short of the pharmacy’s business strategy and that. Has enabled Mac Prescription Shop is loyal to the store or diabetic.!, innovative ideas for hospital pharmacy the patient experience, improve the health of populations and reduce cost... Need to do so without draining your own drug budget a key tenet of the pharmacy’s most effective marketing word. The goals are to improve operational efficiencies and Outcomes medications are prescribed, dispensed, and in! Interest in compounding and problem-solving it can do that by individual health plan and medication and innovative pharmacy ideas... Community health fairs and other events improving medication therapy Outcomes optimal nutrition to the.. Patients’ medication adherence is its appointment-based medication synchronization program centralize include order entry, compounding, packaging and.. Of ideas and innovations, with over 400,000 inspiring examples insights in “ Reaching the Triple Aim with technology. Innovative healthcare and Medical business ideas for 2021 remote pharmacy services can be an,! From the original location schools and local sports teams, regularly participating in community health fairs and events.