McKesson Introduces Breakthrough ‘High Performance Pharmacy SM’ Measurement Solutions, Empowering Hospital Pharmacies to Lower Costs, Improve Outcomes, and Drive Systemwide Results
High Performance Pharmacy Benchmarking Service Leapfrogs Current Industry Solutions, Enabling Hospital Pharmacies to Measure Performance against Comparable Institutions and Chart a Step-by-Step Path to High Performance
LAS VEGAS, NV — ASHP 2007 Midyear Clinical Meeting and Exhibition (Booth #204) — December 3, 2007 — McKesson Corporation, a Fortune 18 healthcare services and information
technology company, today introduced two solutions designed to enable health
system pharmacy leaders to conduct highly customized comparisons of their
performance against similar institutions and develop a targeted action plan for
achieving high performance. The new Web-based solutions - the High Performance
Pharmacy Benchmarking Service and the High Performance Pharmacy Assessment Tool
- will be available through the High Performance Pharmacy Web site, providing a
one-stop shop for hospital pharmacy leaders to discover best practices, measure
performance, and identify specific steps to achieve high performance.
Last year at the 2006 ASHP Midyear conference, McKesson launched the High Performance Pharmacy Web site, which has since become a highly acclaimed industry resource for health system pharmacy leaders. The Web site hosts the landmark High Performance Pharmacy study - co-developed by McKesson and The Health Systems Pharmacy Executive Alliance - which identifies proven best practices for achieving high performance across 8 dimensions of hospital pharmacy practice.
By introducing innovative new benchmarking and assessment solutions, McKesson is significantly expanding its High Performance Pharmacy initiative, helping to improve patient safety, clinical outcomes, and financial performance within hospitals across the country. To date, leading health systems have achieved significant results by implementing High Performance Pharmacy best practices, including Southwest Washington Medical Center (SWMC), Loma Linda University Medical Center (LLUMC), Seton Health System, and others.
"McKesson's introduction last year of the High Performance Pharmacy study and Web site represented a significant contribution to the advancement of hospital pharmacy practice. But, it was also just the first step in McKesson's journey to help hospital pharmacies achieve new levels of performance," said Chris Borr, vice president of health systems marketing, McKesson. "In order to improve patient safety, clinical quality, and financial performance, pharmacies need to first understand their current level of performance, how this performance compares to similar health systems, and most importantly, what specific steps they can take to achieve high performance. McKesson is pleased to further advance the High Performance Pharmacy initiative by arming hospital pharmacy leaders with advanced solutions that can help them transform their pharmacies into high-performing, revenue-generating assets within their health systems."
A High Performance Pharmacy demonstrates the highest levels of patient safety, clinical quality, and financial performance. While today's health system leaders recognize that the performance of the pharmacy department can be a vital element in the success of a health system and the health of its patients, the characteristics that comprise health system pharmacy high performance have historically not been well defined. This lack of clarity and uniformity has made it difficult for health systems to chart a course to high performance.
McKesson is addressing this challenge not only by providing health system pharmacy leaders with a knowledge base of pharmacy best practices, but also by empowering them with new solutions that help them accurately measure their pharmacy's current performance and identify recommended steps to achieve high performance.
- High Performance Pharmacy Benchmarking Service - Available exclusively to McKesson customers for an
annual fee, the High Performance Pharmacy Benchmarking Service takes the
practice of pharmacy benchmarking to the next level. Historically, health
systems have utilized benchmark analyses to identify and address
inefficiencies, control expenses, and enhance overall productivity. However,
previous approaches have not enabled pharmacies to compare their performance
against similar pharmacies, often leading to inaccurate conclusions. The High
Performance Pharmacy Benchmarking Service is the industry's first solution to
close this gap by providing detailed performance metrics of comparable
pharmacies, empowering subscribers to better respond to C-Suite demands for
accountability, secure additional resources, and drive new process
improvements. Through a user-friendly and secure Web-based dashboard,
subscribers can perform customized, comparative analyses of their pharmacy
operations based on size, services, pharmacy dispending model, deployed
technology, and other characteristics.
- High Performance Pharmacy Assessment Tools -
Free,
All-Access Tool.
By accessing this free version of the assessment tool via the
High Performance Pharmacy Web site, hospital pharmacy leaders - regardless of
whether they are McKesson customers - can assess their current performance
level as it relates to the 8 dimensions of high performance outlined in the
High Performance Pharmacy study. Jointly developed and released last year by
McKesson and The Health Systems Pharmacy Executive Alliance, the High
Performance Pharmacy study is widely regarded as a leading resource for
hospital pharmacy leaders and identifies 78 specific practice elements across
8 dimensions of performance that can help hospital pharmacies maximize
clinical and financial returns. The 8 dimensions of high performance are:
Leadership, Medication Preparation and Delivery, Patient Care Services,
Medication Safety, Medication Use Policy, Financial Performance, Human
Resource Management, and Education.
Customer-Exclusive Tool. Available to McKesson customers only, this advanced version of the assessment tool provides McKesson customers with the added benefit of receiving detailed recommendations on the two to five performance elements on which their pharmacy should focus next to improve clinical and financial performance.
"The first step toward achieving high performance is understanding exactly where you are on the road to high performance," said Thomas Thielke, RPh, FASHP, chairman of The Health Systems Pharmacy Executive Alliance, ASHP past president, and VP of professional and support services at the University of Wisconsin Health. "The next step is identifying the best path forward. By delivering the new High Performance Pharmacy benchmarking and assessment solutions, McKesson is once again demonstrating its understanding of and commitment to the advancement of health systems pharmacy."
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About the High Performance Pharmacy Study
Based on an extensive literature review and the collective experience of The Health Systems Pharmacy Executive Alliance, the High Performance Pharmacy study identifies the core best practices that define hospital pharmacy high performance. This landmark study captures and categorizes these pharmacy best practices so that health system executives and pharmacy leaders can easily use them to improve their clinical outcomes and financial results. The High Performance Pharmacy study can be found on the High Performance Pharmacy Web site, www.highperformancepharmacy.com.
About The Health Systems Pharmacy Executive
Alliance
The Health Systems Pharmacy Executive Alliance is a collaboration of well-known leaders who are dedicated to advancing hospital pharmacy's contributions to patient safety, clinical quality, and financial performance through increased effectiveness and efficiencies. Active since 1998, the Executive Alliance maintains a strong and prestigious membership that has included ASHP past presidents and other pharmacy organization officers. The Executive Alliance members include McKesson and non-McKesson customers and represent all parts of the health system continuum, from large, internationally known academic centers to smaller, community-based hospitals. The Alliance operates independently from McKesson and takes responsibility for the public positions and publications it issues.
About McKesson Corporation
McKesson Corporation, currently ranked 18th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes, and improving the quality and safety of patient care. McKesson is the longest-operating company in healthcare today, and will mark 175 years of continuous operations in 2008. Over the course of its history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare, and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit www.mckesson.com.
