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