Benefits
Compliance
FormChecker helps ensure compliance with a number of
Joint Commission medication management guidelines. Plus, use
FormChecker to:
- Select, list and procure medications based on your selected criteria
- Establish processes that address medication shortages
- Identify drug alerts, such as recalls and warnings
- Identify look-alike and sound-alike drug names
- Define standard drug order elements
Drug Cost Savings
According to the
U.S. General Accounting Office, drug cost savings of 9%-22% can be achieved through preferred drug list management, therapeutic interchange and generic substitution policies, potential savings that translate to $375,000 to $900,000 per hospital. In short,
FormChecker is an economical, easy-to-use component of a hospital’s overall cost saving strategy.
Staff Time Savings
Estimates value time savings through use of a formulary management tool at between $15,000 and $20,000 annually, an estimate based on a
University of Michigan study that tracked 1,750 formulary conversions over a three-month period in three hospitals. The study found the average time spent per conversion reached 15 minutes. By providing relevant, accessible formulary information at the point of care,
FormChecker can dramatically lower the costs associated with converting non-formulary requests, explaining drug policies and other tasks.
Budget Savings
Rising drug costs. Mounting regulatory pressures. Shrinking budgets. In today’s challenging environment, effective formulary management and pharmacy communications have become critical elements of pharmacy practice.
FormChecker helps hospitals and clinics reduce drug costs, save on current IT expenses, and reduce/eliminate printing costs.