| Pharmacy Contract Management System was created through a collaborative effort with Austar Consulting Inc. The PCMS software is a customized database program that allows healthcare systems to manage their drug expenditures in an informed, prospective manner. The software integrates the wholesaler's data with the site-specific and GPO (Group Purchasing Organizations) data to form a repository of all contract and purchasing information.
Contract discrepancies are common in healthcare purchasing because the prices are very dynamic and these prices change often involve communication between GPO's, manufacturers, and wholesalers. This triangle of communication is, for the most part, efficient, yet 6-10% of all purchases are still purchased at an incorrect contract price. Trying to retrospectively acquire the credits years after the purchase date can prove to be difficult, laborious, and sometimes futile. This software identifies the discrepancies the day after they happen and thus ensures quick resolution of the problem. This leads to a rapid return on the investment in the system.
The software assists hospital pharmacy departments in all aspects of purchasing decisions from checking stock at the wholesaler to printing a discrepancy report on a daily basis if the invoiced amount is different from the anticipated amount based on the contract in place. For an additional fee, a retrospective analysis can be performed on electronic file history to determine pricing discrepancies when compared to a contract that was in place at that time. Historically, we have found errors equaling 5-8% of the total drug budget.
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