Three Pharmacy Trends Influencing the Financial Performance of Hospitals and Health Systems

Hospitals and healthcare workers have been pivotal in maintaining community health, overcoming various challenges in recent years. Despite these hurdles, they’ve consistently risen to the task, presenting both obstacles and opportunities for health systems.

In recognition of National Hospital Week (May 12-18), Cardinal Health is pleased to offer insights into industry trends and showcase how we’re assisting health system customers in addressing current challenges to uphold the highest standards of patient care.

As a crucial link between clinical and logistical healthcare aspects, Cardinal Health possesses a comprehensive understanding of trends affecting health systems nationwide. This insight enables us to develop innovative solutions to address these trends. Here are three noteworthy trends influencing health systems and hospitals today, along with the innovative solutions we’re providing to empower our customers to thrive and care for their patients.

  1. Pharmacy Labor Shortages: Hospitals face ongoing challenges due to shortages in pharmacy labor. High-performing pharmacies are vital for a hospital’s financial performance and patient safety. Our experience reveals that inpatient pharmacies can consume up to 20% of a hospital’s operating budget. However, increasing demands on hospital pharmacists, such as expanded medication adherence responsibilities and clinical cost-saving initiatives, can lead to burnout and decreased pharmacy performance. To address this, we offer outsourcing solutions and remote pharmacy staffing models, providing expert resources to support pharmacy teams and maintain service levels.
  2. Specialty Pharmacy Expansion: Health systems are expanding specialty pharmacies to extend care to critically ill patients, yet face operational hurdles. Specialty medications pose financial challenges for both pharmacies and patients. Our specialty pharmacy services offer comprehensive support, including consultative assistance, accreditation compliance, and payor access management. Additionally, our Atrix™ Ally solution helps manage claim denials and identifies patient advocacy opportunities, ensuring patients can afford their care.
  3. AI-Enabled Capabilities: Artificial intelligence presents opportunities to address health system challenges. By leveraging technology like AI and machine learning, health systems can improve efficiencies and reduce costs. Our Cardinal Health™ InteLogix™ Platform utilizes AI to optimize hospital medication supply chains and drive value through actionable insights for contract compliance and cost control.

Despite the evolving landscape of challenges and opportunities, hospitals and healthcare providers remain dedicated to delivering high-quality patient care. Cardinal Health is honored to support them by providing innovative solutions to enhance hospital efficiency and improve patient lives.

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