Chances are that your facility’s pharmaceutical inventory comprises a signficant share of its overall budget. That means that if your inventory isn’t fully optimized, it’s probably tying up signifcant cash flow. And those are dollars that could be better spent on initiatives that directly impact patient care.
Right-size your medication inventory
No one knows more about right-sizing hospital pharmacy inventories than Cardinal Health. We work with hospitals and health systems of all sizes, all over the country, to implement proven-successful inventory management strategies that drive results.
Our experts devise, implement and maintain inventory management programs that virtually eliminate waste, dynamically adjust inventory levels based on demand, and reduce excess inventory. Our system also flags soon-to-be expired products so they can be returned to the manufacturer before they negatively impact your bottom line. All while freeing up pharmacy time to focus on patient care.
Significantly improve cash flow in the very first year
On average, we help hospitals reduce medication inventory costs by 17-48% in the very first year. But don’t take our word for it. Here are just a handful of our success stories – real hospitals that have quickly realized considerable savings:
- We helped a 550-bed hospital in the Northwest improve inventory turns by 66%, freeing up nearly $860,000 in cash flow.
- We helped a 380-bed hospital in the Northeast improve inventory turns by 86%, freeing up nearly $550,000 in cash flow.
- We helped a 150-bed hospital in the Midwest improve inventory turns by 29%, freeing up $206,000 in cash flow.
Need more cash flow?
Don’t let your medication inventory tie up dollars that could be used for patient care. Let us right-size your inventory. Contact us today.