As full-risk-bearing providers, hospices pay for nearly all medications they prescribe. These costs can be significant, typically making up the largest expense after staff and facilities. Increased scrutiny over which medications may be billed separately under Part D means even more medication costs may come out of a hospice’s capitated per-diem payment from Medicare.
While the stakes are high when it comes to managing hospice pharmacy spend, there are ample opportunities for improvement. This whitepaper examines how organizational attributes and outside influences affect pharmacy spend. These factors are often overlooked, particularly when hospices focus on cost alone over a more holistic approach. By taking a closer look at the subtler aspects of medication selection and usage, hospice leaders will gain a better understanding of factors influencing their pharmacy spend and potential next steps. In this paper we will review the following:
- Demographic Attributes: Specific differentials that could affect cost relative to other groups
- Utilization Factors: Indicators such as how medications are chosen and how metrics and key performance indicators (KPIs) affect overall cost
- Tools for Success: Ways to improve quality and manage costs, including how Enclara Pharmacia can help
Factors Influencing Hospice Pharmacy Spend is required reading for any hospice leader. You will learn steps you can take to start managing costs today without sacrificing patient care or satisfaction. It’s a great way to start a conversation with your team. Download this important resource today!