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Consolidating and centralizing functions

The former is ‘obvious': if you have fewer managers, IT systems, buildings etc; if you use less of some resource, it will reduce costs.

The second argument is ‘efficiency through industrialization’.

For example, adjacent Trusts might decide to collaborate by merging their HR or IT functions.

There are two arguments for sharing services: The ‘less of a common resource' argument and the ‘efficiency through industrialization' argument.

This argument assumes that efficiencies follow from specialization and standardization – resulting in the creation of ‘front' and ‘back' offices.

The typical method is to simplify, standardize and then centralize, using an IT 'solution' as the means.

She earned her BS in Pharmacy from the University of Connecticut where she was selected as 2014 Alumni of the Year.

She also received her Pharm D from the University of Colorado and MBA in Healthcare Administration from Widener University.

Readers should consult appropriate professionals for advice and assistance prior to making important decisions regarding their business.

Many are turning to drug centralization to maximize clinical, financial and operational processes in their medication supply chain process while delivering on their patient-care mission. Risk and Waste Factors Large health systems today face a wide range of inefficiencies in the medication distribution process.

The pharmacist’s role is ever-expanding, which increasingly limits availability for non-clinical tasks.

At the same time, significant pharmacy resources and costs are required to fill and replenish automated dispensing cabinets (ADCs), along with other distributive functions.

The increasing high cost of medication therapy and managing drug shortages puts a strain on pharmacy inventory, which then puts health organizations at risk of medication stock-outs in the ADCs — which can affect patient medication therapy, patient safety and nursing workflow. By centralizing pharmacy operations and distributing most medications from a single location, health systems are better able to improve inventory cost management, standardize formulary, eliminate redundancy, and streamline workflow to improve efficiency and reduce expenses.

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Shared services is different from the model of outsourcing, which is where an external third party is paid to provide a service that was previously internal to the buying organization, typically leading to redundancies and re-organization.

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