Kathy Parrinello, executive vice president and COO of University of Rochester (N.Y.) Medical Center, Strong Memorial Hospital, saw an opportunity to grow revenue by rethinking ancillary service line strategy, particularly in outpatient pharmacy.
"One of the major initiatives I supported with my chief pharmacy officer was the reimagining of our outpatient pharmacy program as a critical integration program to keep all patient care and referrals within our health system," Ms. Parrinello told Becker's. "Typically under value-based contracts, clinicians understand the importance of keeping all medical referrals in the system but they don't realize the advantages of keeping pharmacy services such as outpatient medications, infusion therapy (home or clinic), oxygen and other DME services in the system."
The team at Strong Memorial created a robust outpatient pharmacy program with several ancillary services and provided strong clinical support to providers ordering those services. The results?
"We have achieved tremendous growth in our ancillary service lines," said Ms. Parrinello. "We are now generating revenues of over $500 million in those services and achieving a 'closed loop,' coordinated continuum of care for patients that they need and deserve."
Ms. Parrinello is among the 400+ speakers at the Becker's CEO+CFO Roundtable Nov. 11-14 in Chicago. Health system executives, apply for complementary registration as a reviewer here. Limited exhibitor and sponsorship opportunities available. Download the prospectus here.