Pharmacy operations — a patient-centric approach, a revenue source.

Insider Insights

“For too long pharmacy costs have been a black box. In the era of pharmacy value, organizations are grappling with how to dissect and visualize pharmacy data from multiple sources. The drive to value-based pharmacy is exacerbating this need and Initium Health has the experience and tools to assist.”

Quan Pho, PharmD, MBA, FACHE

Principal

Quan Pho is a pharmacy executive with nearly two decades of experience leading broad scale initiatives for health systems, health plans, physician groups and technology companies. Quan has led strategic, operational and change management initiatives at every level of pharmacy practice.

 FUTURE OF RX

A New Paradigm 

Pharmacy services have tremendous growth potential and ability to differentiate health systems within highly competitive healthcare markets. Our pharmacy solutions bring best-in-class clinical, operational, and technological support to your team, allowing them to excel as pharmacy professionals and yield measurable results. We’ll help you tackle hyper inflated drug costs, and we are willing to go at risk with you in order to produce savings.


We customize our services based on each hospital’s needs, supporting our clients through comprehensive assessments, contract optimization, enhanced business development, and onsite or off-site leadership and operational support.

Streamline Operations
Healthcare policy and technology are always changing and evolving. We study these trends day in and day out, presenting strategic opportunities for your pharmacy operations to grow, change and improve to sustain cost reduction for years to come.
340B Program Consulting

Whether you are implementing a 340B program, looking to optimize one, or looking to partner with FQHCs, our team can help you get there. 

Wholesaler / GPO
We work on your behalf to engage all stakeholders in the RFP process for GPO and wholesaler contracts, supporting your negotiations with our expertise. Experience substantial benefits and cost savings with documented results ranging from $10M to $45M depending on health system size.
Retail / Specialty Rx

Create or grow your retail network to improve employee access, drive in-network dispensing and align with population health priorities. We work with health systems to establish fully integrated specialty pharmacy and benefits strategies.

Pharmacy Benefits Management

We help health systems improve PBM margins and are willing to go at full risk with you to re-negotiate current PBM contracts, initiate a RFP for a new PBM, or establish your own PBM.

System P&T Committee

Establish the infrastructure you need to standardize your health system formulary, reducing costs and improving patient outcomes and safety. We work with you to optimize your P&T composition and function and secure the support needed to operate efficiently.  

Inventory Reduction

Deploy inventory strategies such as central self-distribution to leverage purchasing power, optimize contracting, and reduce costs. Our pharmacy experts help you implement best practices for pharmacy inventory reduction, streamline buying, and align corporate synergies across your health system.
 

Data Analytics

We implement a proprietary analytics dashboard to show your savings and real time costs. View your data in an intuitive, easy-to-use interface with presentation-ready reports. Our expertise helps enhance patient care and improve financial performance. As a public benefit corporation, we leverage our deep healthcare expertise and industry affiliations to support health systems, FQHC’s, pharmaceutical, and technology companies with operational and technological innovation.

Infusion Line/ Specialty Rx
Maximize contracts, reduce costs and improve margins while increasing patient satisfaction. A full-scale redesign for all aspects of day-to-day operations including: service line, billing, front office work, prior authorization, pharmacy purchasing, and negotiating contracts.

ACE Certification

ACE certification is the industry standard to validate 340B knowledge expertise and Initium Health’s Senior Consultant & Lean Six Sigma Black Belt, Kate Bailey, MPH is ACE certified.

Case Study: Pharmacy Operations

Extensive Redesign 

A comprehensive review of pharmacy infrastructure revealed opportunities to streamline operations, fix billing, and improve processes to enhance revenue. GPO and wholesaler arrangements were renegotiated, and all pharmacy contracts were assessed for revenue potential.  

340B Expertise to Help Your Business Thrive

As a 340B covered entity, your pharmacy operations need to meet changing regulatory demands, create efficiencies, and improve quality – and we are here to help.

340B Optimization

We conduct a comprehensive review of to align 340B-eligible facilities with overall health system strategy and transform your bottom line. We design all-inclusive 340B enrollment and contract pharmacy strategies to include TPA contract review, while ensuring program compliance.

340B Implementation

Our team has the extensive operational knowledge needed to optimize the 340B program in every facet of the market: contract management, distribution, assistance, and retail. We help you negotiate contracts, create billing and dispensing infrastructure, and train staff on policies and procedures. Our in-depth review mirrors an HRSA audit to ensure that your system is compliant and ready in the event of a formal audit. We identify potential risks, provide corrective action plans, and detail key areas of improvement that will generate cost savings.

Retail Pharmacy

We optimize retail pharmacy operations so that you can interact with more patients at discharge and between visits, resulting in better medication adherence, lower readmissions, reduce employee drug costs, and increased patient satisfaction.