Posts Tagged: Hospital Pharmacy

What’s the Process for a Multi-Location Pharmacy Data Conversion?

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In many cases, a data conversion for pharmacy systems is simple. It’s one location changing their software. However, in the case of chain pharmacy or hospital pharmacy, there can be multiple locations. The need to migrate data can be due to an acquisition or a systemic switch to a new provider. This can be very cumbersome and concerning for pharmacy leaders. However, a multi-location pharmacy data conversion is easy with InfoWerks. See how we make it pain-free.

How Do Multiple Locations Impact a Data Conversion?

The simple answer is that there is more data! How you convert will depend on your specifications. Some questions we would ask include:

  • How much data do you want to keep for each location? For example, most migrations keep two years of current data. 
  • Are any locations closing and need data migrated to a new site? If you are closing a pharmacy, you’ll need to convert that data to another new location and archive the rest.
  • Do you want to archive data? And if so, who will need access? Archiving pharmacy records is a cost-effective way to ensure you met record retention requirements and can quickly obtain the files from a web-based system. 
  • What is your current software and your new software? Once we know this, we can determine if there are outliers or considerations, as each software is unique. Luckily, we’re platform agnostic and have worked with over 150 different ones. 

Does a Multi-Location Pharmacy Data Conversion Take a Long Time?

The specific timespan for your data migration is dependent on many factors. The amount of data is one of the most significant. Also, the cooperation of your current and future vendor will impact the timeline. 

Multi-locations aren’t always longer. The best thing you can do is plan ahead. Choose your data conversion partner early and work out the timeline with them from the start so that your Go-Live meets your needs.

Are There Other Special Requirements for Multi-Locations?

The number of locations matters less than the accuracy and state of the data. If there is a large amount of unstructured data, that can add additional requirements to the project. Our specific process has steps that take into consideration all the things we know to be true about data pharmacy conversions. 

We know all the areas that can cause challenges and proactively prepare for them with our customers. You can learn more about pharmacy data conversions in our whitepaper, The Ultimate Guide to Pharmacy Data Conversions. 

Trust InfoWerks with Your Conversion Projects

We’ve been migrating pharmacy data for over two decades, and we’ve got you covered. If you’re beginning a conversion project, then connect with our experts today to get started. 

The Pandemic and Prescription Drug Spending

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prescription drug spending

ASHP (American Society of Health-System Pharmacists) released a new report regarding the pandemic’s influence over prescription drug spending. While spend did grow at a moderate rate, analysts attribute the growth to increased usage. The shifts and changes the healthcare system experienced over the last year caused these shifts. They will continue to do so as the pandemic continues and the delivery of care evolves. 

A Look at the Numbers

Prescription drug spending rose 4.9% in 2020, reaching $553.3 billion. Of that, 2.9% was due to greater utilization. New drug spending added in 1.8%, while price changes accounted for a mere .3%. 

That’s the overall number, but there are other trend insights by type uncovered in the report, such as:

  • Nonfederal hospitals spent 4.6% less: There was a spike in March 2020, then 19 weeks of decreases before a rebound. 
  • Home health increased its spend by 13%: Home health services grew tremendously during the pandemic. 

Pandemic Effects Will Linger in 2021

The lead author of the report, Eric Tichy, PharmD, MBA, believes that effects from COVID-19 will persist. This will impact drug spending this year and next. Tichy urges hospital and health-system pharmacists to prepare for further consequences, such as the commercial availability of new high-cost drugs and changes in site of care. 

With vaccines prevalent, hospital pharmacies can also expect to see a revitalization of acute care services. Preventive care, screenings, and elective procedures took a nosedive in 2020. With utilization expected to rise, hospital pharmacies will see a rebound in drug expenditures. 

New Drug Approvals Will Also Impact Market

There are other factors influencing cost beyond the pandemic. The report also suggests that biosimilars will be a big driver of prescription spending for 2021 and beyond. The industry expects approvals for new drugs in this category. 

There is also a healthy pipeline of drugs for cancer treatment, rare diseases, and other specialties. The FDA should be providing approvals for these this year. Specialty drugs have been fueling increased expenditures for several years, compared to other classifications. 

Read the Complete Report

You can read the complete report, National Trends in Prescription Drug Expenditures and Projections for 2021. The report’s predictions include an expectation that overall spend will increase 4-6%. For clinics and hospitals, they forecast 7-9% and 3-5%, respectively. 

What Are the Best Practices for Data Management for Hospital Pharmacy?

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hospital pharmacy

Hospital pharmacy has unique data challenges. Like any organization, data is one of your most valuable assets. Being able to access it how and when you need is critical. And that can be compromised when you choose to change pharmacy systems.

Hospital Pharmacy Data Conversion Are Not a One Size Fits All

The process of converting is much more complex than taking one set of data and transferring it into a new platform. Many different factors impact the conversion. For example, some fields are consistent across all platforms, some are not.

Many systems are used independently, making migrations tricky. There is also the need for many of these systems to work interoperability with other systems, like EHRs. Further, the priorities of the pharmacy may be different based on the size. Larger health systems have more data and possibly more customization versus community hospitals.

Smooth Conversions Support Better Patient Care

Hospital pharmacy data is critical to improving patient care and ensuring they receive the right medications. That’s why it’s crucial to work with a data conversion partner that understands your operating model.

Overcoming Challenges in Data Management

As a leader and pioneer in pharmacy data management, we’ve helped thousands of hospital pharmacies successfully convert their data. In our over two decades, we’ve learned a lot and want to share it with you. We’ve created a new guide,  “Solving Data Management Challenges for Hospital Pharmacy.”

In the eBook, you’ll learn:

  • Data conversion best practices
  • Data fields that can cause problems
  • Questions to ask your data vendor
  • Why you should purge and archive before converting
  • Security and compliance considerations

Read the eBook today. If you have questions about data conversions, contact us to learn more.