Logistics and Supply Chain

Data to Information to Action: Medication Inventory Management Analytics Strategy

Monday, March 14 at 10:00 AM - 11:00 AM CDT
Orange County Convention Center, W308A
This session is part of the Clinically Integrated Supply Chain Symposium and requires an additional fee and registration. Medication-related initiatives are strategic priorities as health-systems and aim to decrease costs, increase revenue, and enhance patient safety. High-performing medication management analytics programs utilize data to provide value to the organization in achieving its financial, clinical, and operational goals powered through robust medication management data strategy.
 
This session will describe how to rapidly move large amounts of data reliably and autonomously into a cloud data platform so that hospital staff can focus on other aspects of patient care. The included case outlines how a pediatric oncology research hospital works in partnership with their external stakeholders to analyze data, identify, and implement medication cost savings opportunities. A twelve-month savings is extrapolated based on the conversion date with $2.85M realized cost savings recorded in FY21.
 
Attendees will be challenged to apply lessons learned regarding successful medication management data strategy to organizational challenges at their respective practice sites.

Learning Objectives

  • Identify potential strategies for implementing and operationalizing a successful medication management analytics program
  • Discuss how to partner with the appropriate vendor to select a medication management inventory platform and supporting analytics software
  • Describe how to outsource key aspects of medication inventory management to an appropriate partner using a risk/benefit model
  • Review a case study describing how St. Jude Children’s Research Hospital successfully gained control of their inventory supported by a medication management data strategy to create value for the organization
  • Apply lessons learned regarding successful medication management data strategy to organizational challenges at attendee sites
Credits
CAHIMS 1.0, CME 1.0, CNE 1.0, CPHIMS 1.0
Level
Intermediate
Audience
Supply Chain Management Professionals/Clinicans, Clinical Informaticists, CIO/CTO/CTIO/Senior IT
ID
SC2

Speakers

David Aguero, PharmD
Director, Medication Systems and Informatics
St. Jude Children's Research Hospital
David Berkowitz
Omnicell One Field Strategist
Omnicell
Joseph Lassiter, BCPS, MS, PharmD
President and Chief Pharmacy Informatics Officer
The Robertson Group (TRG) LLC