Experience

Large Integrated Health Delivery Network capitalizes on opportunities to run its pharmacy organization as a “business within a business”

-17%

Reduced readmissions in target population

Increased patient satisfaction

net operating margin gain in 36 months

Visante/Experience/Large Integrated Health Delivery Network capitalizes on opportunities to run its pharmacy organization as a “business within a business”

Challenge/Goals

Transform the pharmacy organization into a well-run business. Find funding solutions to build and expand new pharmacy services that will generate revenue, improve patient care

Process

A top Integrated Health Delivery Network was looking to improve the overall management of its pharmacy services to improve financial performance while positively impacting patient care. Visante’s James Jorgenson, a former Chief Pharmacy Officer in several large hospital networks, was engaged to assess the IHDN’s existing pharmacy operations and provide a strategic plan to turn it into a “business within a business.”

Jorgenson and his colleagues at Visante developed a strategic approach to create significantly expanded pharmacy services that would be run as a financially strong business with enhanced patient care opportunities. The plan included:

Retail and specialty pharmacy programs
System formulary and drug utilization management
Enhanced clinical pharmacy services
Linking inpatient and outpatient care

To fund the expanded services initiative, Jorgenson developed an innovative financial and operational model which included creating an external partner relationship as an at-risk financial strategy.

Results

Visante’s approach brought extraordinary results to the IHDN pharmacy organization, from both patient care and financial perspectives. The IHDN now runs pharmacy as a business and continues to improve its operations as it continues to build upon this model.