The pressure to manage costs and maximize pharmacy labor productivity is universal for inpatient, outpatient, and long-term care pharmacies.
One significant area of opportunity that can be easy to overlook is inventory management. The typical health system pharmacy does not use calculated methods for determining when and how much to order. Consequently, the national average inventory turn rate is 10.2.*
By implementing McKesson's Asset Management program, health system pharmacies can effectively manage inventory costs, conserve time and working capital, and improve purchasing accuracy.
McKesson's exclusive Asset Management program is designed to help our customers derive the highest value from McKesson technology and draw upon our expertise in inventory and purchasing management. The program uses McKesson Connect, McKesson's online order management system, paired with Mobile Manager 100℠ mobile computing to:
- Apply analytics to identify and focus buyers' time on "A items"
- Capitalize on purchase history trends to guide ordering
- Maximize contract compliance
- Minimize labor spent on receiving
- Streamline product receiving
- Rationalize distributor delivery frequency
McKesson's Asset Management program is ideal for organizations that:
- Are inpatient, outpatient, or long-term care provider pharmacies
- Have an annual drug spend of at least $3 million
- Have current inventory turns of 10 or lower
- Are willing to consider redesigning their procurement processes
- Are committed to reducing inventory investment
By implementing McKesson's award-winning Asset Management program and adding discipline to the entire procurement process, pharmacies can:
- Free up pharmacy staff time for more productive tasks
- Capitalize on increased cash flow to fund other important investments
- Eliminate duplicate or obsolete inventory and reduce waste
- Smoothly incorporate McKesson technology to drive maximum inventory turns
- Achieve optimal contract item pull-through