July 2023

Are your pharmacy teams suffering in silence? Read this series to find out.

These days, it’s not easy to manage a pharmacy. And as drug prices rise, staffing pressures heighten, and patient demand increases, it’s about to get a lot more difficult.

On the flip side, a high-functioning pharmacy service can be a powerhouse for a hospital, driving financial growth and patient care improvements. How can you tell if your pharmacy is thriving or floundering? Here are 5 warning signs your pharmacy team may need more support:

1. Your drug costs are higher than your peers. If your average drug spend per patient, per day is growing faster than your peers’ expenses, your pharmacy team may need better support. As medication costs continue to rise, consider an assessment to evaluate your gaps. It will help you arm your team with better tools to improve medication management activities like clinical purchasing, which can help to reduce spend.
2. Your quality goals are stagnant or at risk. A thriving pharmacy team will provide high-touch support to doctors and nurses to promote patient safety and inform clinical decision-making. If your clinical and quality benchmarks aren’t improving, and you suspect satisfaction is the culprit, consider how you can better empower your pharmacy team to strengthen care delivery. Moreover, if readmissions and medication errors are on the rise, evaluate your pharmacy’s staffing, workflows, and care team collaboration for improvements.
3. Your list of open pharmacy roles is growing. Finding and keeping skilled, local pharmacy talent is increasingly difficult. According to ASHP, most hospital pharmacies are short-staffed at all levels. Constant turnover creates recruitment headaches and may even lead to patient safety risks. It may be time to explore if your pharmacy team would benefit from outside staffing help or telepharmacy support.
4. Your sleep is interrupted by compliance concerns. If the thought of an auditor knocking on your door or your hospital being fined by the DEA keeps you up at night, there may be compliance concerns lurking in your pharmacy. It’s likely time for a compliance evaluation to identify and mitigate costly risks.
5. Your to-do list keeps growing. You have many important responsibilities across the hospital, and while you’re an incredible leader, you can’t do it alone. If you don’t have a pharmacy management partner or your partner isn’t working as an extension of your team to help you grow, it’s time to find someone else.
   

If any of these warning signs resonate with you, we can help.