More than 100 implemented initiatives helped a large acute care health system decrease drug spend by 23%

The CEO of a large health system in the Southeast, comprised of more than a dozen acute care hospitals, tasked CPS Solutions, LLC. (CPS) with a challenge: analyze their hospital pharmacy data and reveal as many cost savings opportunities as possible.

CPS prioritized building relationships with hospital leaders and staff across multiple locations to gain an understanding of their current situation.

The actual savings delivered for the health care system surpassed projections.

Over the first 15 months of the engagement, cost savings exceeded $18.9 million, which was achieved through:

• Continued opioid program implementation
• Systemization/standardization of drug formularies and policies/procedures
• Maximizing purchasing power
• Mitigating drug shortages
• Further assessment of 340B contract pharmacy opportunities