{"id":165103,"date":"2023-06-04T02:24:35","date_gmt":"2023-06-04T07:24:35","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/06\/mitigating-operational-risk-in-healthcare-with-high-performance-pharmacies"},"modified":"2023-06-04T02:24:35","modified_gmt":"2023-06-04T07:24:35","slug":"mitigating-operational-risk-in-healthcare-with-high-performance-pharmacies","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/06\/mitigating-operational-risk-in-healthcare-with-high-performance-pharmacies","title":{"rendered":"Mitigating Operational Risk In Healthcare With High-Performance Pharmacies"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/mitigating-operational-risk-in-healthcare-with-high-performance-pharmacies.jpg\"><\/a><\/p>\n<p><em>Guy, a recognized industry thought leader, is the president of <\/em><a href=\"https:\/\/www.smartsense.co\/\" target=\"_blank\" class=\"\" title=\"https:\/\/www.smartsense.co\/\" rel=\"nofollow noopener noreferrer\" aria-label=\"SmartSense,\"><em>SmartSense,<\/em><\/a><em> IoT solutions for the enterprise.<\/em><\/p>\n<p>It\u2019s no secret that healthcare systems exist at the intersection of financial risk and operational risk. Amid the market volatility of our current socioeconomic environment, the pressure is on hospitals, clinics and blood banks to maintain healthy profit margins that enable them to keep pace with rising demand for clinical care and prescription medications. The rate of U.S. spending on prescriptions is <a href=\"https:\/\/www.cms.gov\/research-statistics-data-and-systems\/statistics-trends-and-reports\/nationalhealthexpenddata\/nhe-fact-sheet#:~:text=Prescription%20drug%20spending%20increased%207.8,the%20households%20(27%20percent).\" target=\"_blank\" class=\"\" title=\"https:\/\/www.cms.gov\/research-statistics-data-and-systems\/statistics-trends-and-reports\/nationalhealthexpenddata\/nhe-fact-sheet#:~:text=Prescription%20drug%20spending%20increased%207.8,the%20households%20(27%20percent).\" rel=\"nofollow noopener noreferrer\" aria-label=\"increasing at a rapid clip\">increasing at a rapid clip<\/a>, and considering physician-administered drugs provide hospitals with <a href=\"https:\/\/revcycleintelligence.com\/news\/hospitals-retain-91-of-profit-from-physician-administered-drugs\" target=\"_blank\" class=\"\" title=\"https:\/\/revcycleintelligence.com\/news\/hospitals-retain-91-of-profit-from-physician-administered-drugs\" rel=\"nofollow noopener noreferrer\" aria-label=\"high gross profits\">high gross profits<\/a>, investing in pharmaceutical services is a logical pathway to profitability.<\/p>\n<p>However, severe pharmaceutical compliance regulations related to safety and efficacy\u2014CDC, VFC, FDA, AABB and BOP\u2014create a myriad of risk management issues for healthcare organizations to juggle. In the U.S., adverse drug effects are one of the <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/books\/NBK430763\/#:~:text=The%20most%20common%20medical%20errors%20in%20the%20United%20States%20by%20occurrence%20are%3A%20adverse%20drug%20events\" target=\"_blank\" class=\"\" title=\"https:\/\/www.ncbi.nlm.nih.gov\/books\/NBK430763\/#:~:text=The%20most%20common%20medical%20errors%20in%20the%20United%20States%20by%20occurrence%20are%3A%20adverse%20drug%20events\" rel=\"nofollow noopener noreferrer\" aria-label=\"most common medical errors\">most common medical errors<\/a>. All it takes is one mismanaged medication to put a patient\u2019s health at significant risk. And on a global scale, widespread vaccine hesitancy rooted in public skepticism has served as a critical roadblock to mitigating the spread of severe infectious diseases like Covid-19.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guy, a recognized industry thought leader, is the president of SmartSense, IoT solutions for the enterprise. It\u2019s no secret that healthcare systems exist at the intersection of financial risk and operational risk. Amid the market volatility of our current socioeconomic environment, the pressure is on hospitals, clinics and blood banks to maintain healthy profit margins [\u2026]<\/p>\n","protected":false},"author":662,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,1495],"tags":[],"class_list":["post-165103","post","type-post","status-publish","format-standard","hentry","category-finance","category-health"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/165103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=165103"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/165103\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=165103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=165103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=165103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}