Top Attributes Unique to Pharmacy Inventory Services
Robust Inventory and Extensive Reporting
Look for a partner that can provide a robust valuation report using acquisition costs from wholesaler purchase history and direct contracts. Valuations should include GPO, AWP, WAC, and 340B pricing, if the necessary information to enable these valuations is provided by your system. The partner should also be able to provide highly accurate inventory valuations, as well as year-over-year comparison reports (for repeat customers) that help reduce over- under-stocking.
Valuation reports should also include:
- Location, quantity, package size, manufacturer, NDC#, generic name, strength, form, trade name, class, unit price, therapeutic class reporting, and extended price.
- Documentation of test count detail for internal and external auditors.
- Summary and detailed reports (exportable in several formats including Microsoft Excel).
- Unmatched reports that identify items without a matching reference in your item master or PO history. The unmatched reports do not value these items.
- Inventory Services for the Entire Hospital or Health System The partner should be able to conduct inventory counts in all areas of your hospital including cardiac cath labs, interventional radiology, and electrophysiology; suites like OR and cardiovascular OR; and departments like cystoscopy, ocular, orthopedics, anesthesia, endovascular, neurology, pharmacy; and areas such as storerooms and warehouses. Also, look for a partner that can conduct inventory counts in off-site clinics and ambulatory surgery centers. Having one partner that can service all of these areas leads to significant time and cost savings.
- Expired Inventory Management and Quality Assurance Look for a clinical inventory service partner that focuses on accuracy and quality by using experienced staff members, barcode scanning, and engages in proactive activities to spot red flags, such as comparing findings to previous counts. Also, seek out a partner that checks expiration dates on all inventory, and that flags and pulls those items. The partner should also provide a report indicating where expired items were found, enabling your health system can identify potential problem areas.
Since 1999, Syft has become the trusted provider and is used by more than 245 customers (970 U.S. hospitals). In the last decade alone, Syft has conducted more than 7,600 inventory counts, totaling nearly $13 billion in inventory valued.
Syft proudly serves these customers and many more:
- Cleveland Clinic
- BJC Healthcare
- Dignity Health