McKesson's MedSourceSM Medication Assistance Program has helped U.S. hospital pharmacies save nearly $3.3 million in 2010
SAN FRANCISCO - August 8, 2011 - McKesson Corporation, a Fortune 15 healthcare-services and information technology company, today announced that McKesson MedSource Medication Assistance Program (MedSource) has expanded to include medical devices and insurance co-pays, in addition to drugs dispensed to uninsured patients. With the most comprehensive list of products available through MedSource, McKesson is providing hospitals with increased opportunities to maximize savings dispensing medications and providing care to low-income patients.
The MedSource program resulted in nearly $3.3 million in savings in 2010 for participating hospitals across the U.S. Since program inception, MedSource has saved its health systems customers nearly $35 million.
Realizing the Full Potential of MedSource
SwedishAmerican Hospital (Rockford, IL; 333 beds): By partnering with McKesson and leveraging Medsource, SwedishAmerican Hospital increased the pharmacy's savings by more than 2500%.
"MedSource is helping our pharmacy to save $40,000 a month," said E. Thomas Carey, director of pharmacy, SwedishAmerican Hospital. "This is a huge improvement from when we dedicated staff to managing the complexities of the manufacturer-sponsored patient-assistance programs, which netted us $1,500 a month. MedSource enables our pharmacy to recoup costs and reallocate our staff to spend more time on clinical care."
Rockford Memorial Hospital (Rockford, IL; 396 beds): Since implementing the MedSource program last year, Rockford Memorial Hospital has saved $100,000.
"We rely on MedSource to recover funds we simply could not otherwise; it is helping us capture more than $100,000 a year in drug-spend savings," said Curt Lesher, director of pharmacy, Rockford Memorial Hospital. "MedSource allows our staff to remain focused on patient safety and care instead of administrative tasks."
Lightening the Financial and Operational Burdens on Pharmacists
Hospitals often lose significant amounts of money when providing medications and services to the most vulnerable members of their communities. Yet the challenge of managing patient-assistance programs (PAPs) sponsored by pharmaceutical and medical-device manufacturers is often time consuming - staying current with manufacturer programs, changing regulations, enrollment processes and so on.
McKesson reduces the time, cost and hassle for hospitals by combining the expertise of consultants steeped in the complexities of various patient-assistance programs with proprietary software and tools for tracking, reporting and managing hospitals' participation in the programs.
MedSource works seamlessly with legacy hospital-pharmacy inventory-management and accounting systems, so it complements existing workflow and processes.
"Our hospital and health systems customers rely on McKesson for its unmatched experience and solutions helping hospitals dedicated to financial performance and patient-care outcomes," said Mark Eastham, R.Ph., SVP of pharmacy optimization, McKesson. "With MedSource, participating hospitals can spend less time on administrative tasks, increase patient enrollment, and recoup the full benefits of PAPs, and ultimately spend more time on clinical functions and patient care."
For more information on McKesson MedSource Medication Assistance Program, please call 800.571.2889, or e-mail healthsystems@McKesson.com.
Meet BoP SM. McKesson's Business of Pharmacy.
Currently helping more than 2,000 hospital pharmacies nationwide, the Business of Pharmacy (BoP) is McKesson's evidence-based approach to optimizing the financial, operational and clinical performance of hospital pharmacies. Harnessing McKesson's superior distribution, BoP extends across the entire business of hospital-pharmacy operations and provides the services and solutions to transform the pharmacy into a center of operational excellence that supports optimal patient care. For more information, please visit McKessonbop.com/.
About McKesson
McKesson Corporation, currently ranked 15th on the FORTUNE 500, is a healthcare-services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit McKesson.com.
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