Supply Chain World - Volume 7, Issue 3 - 75

comprehensive pharmacy services healthcare

always play an important role. All of these issues link back
to communication."

A Predictive Focus
Pharmacies are dealing with inherently expensive products,
and not only are price tags attached to putting something on a
shelf, expiration dates are also have to be considered. There is
a cost component to keeping an item on the shelf, so pharmacies need to find ways to remain as lean as they can. When a
drug shortage occurs, CPS helps its clients determine drugs'
shelf life compared to their costs, if a different drug can be
used for the same condition, if generics can be used instead of
brand-name drugs, or if older drugs can be substituted.
"There is a huge clinical component to this," Finnefrock
stresses. "It's important not to be reactive when something
happens, so we focus on predictive modeling. We advise
across the country, so when we see something happen on the
East Coast and see it move west, we can make a prediction
for our clients. Or, if a shortage is trending in one area and we
know there is product elsewhere, we can work with the wholesaler to shift the product to a different distribution center."
CPS uses technology to know where products are
flowing, as well as have predictive analytics about the
market. At the same time, it is constantly communicating
with clients, such as with short emails or text messages,
to ensure all of the information is timely and a timeline
is established for every shortage. Additionally, great relationships with vendors and their ability to come through
for clients, which includes data that helps CPS make
timely decisions.
The company also trains buyers on anything from how to
use the software that's available to how to manage software
from the wholesalers or how to communicate directly
with the drug manufacturers. The CPS training manual for
buyers covers something simple like how to set up a spreadsheet or more advanced like conducting inventory. Additionally, CPS offers support for buyers who have questions,
and it has set up a group so buyers at different locations
can talk to each other to find solutions. Finnefrock notes
the company wants to continue to enhance what it offers to
pharmacies to ensure their efficiency but also maintain high
levels of safety.
"We are one of the fastest-growing pharmacy management companies, but we are working on getting better at
predictive analytics to get better at seeing trends out there,"
he explains. "The faster the information flows, the faster we
can have an outcome."
VOLUME 7, ISSUE 3 Supply Chain World

75



http://www.sthealthgroup.com/ https://www.gulfcoastpharmaceuticalsplus.com/

Supply Chain World - Volume 7, Issue 3

Table of Contents for the Digital Edition of Supply Chain World - Volume 7, Issue 3

Contents
Supply Chain World - Volume 7, Issue 3 - Cover1
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