Average monthly cost of medications was reduced from $42,604 to $26,601 equating to a decrease in annual inventory costs of $192,039 or 62%. These goals were attained by focusing on:

  • Complete reassessment of the hospital inventory
  • Creation of a working therapeutic interchange system
  • More effective inventory management (increasing inventory turns)
  • Better utilization of GPO contract pricing
  • Improved communication with nursing and physicians regarding drug utilization