In 2024, healthcare pharmacy executives are focused on standardizing their formularies and streamlining drug purchasing, according to 275 hospital pharmacy leaders surveyed by Bluesight.
More than 60% of respondents have at least a decade of industry experience.
Here are 10 notes from the survey, which Bluesight conducted in the first quarter of 2024:
Technology
1. The top three tech initiatives for 2024 are controlled substance tracking technologies, IV prep tracking software and perpetual inventory management software.
2. Budget constraints are hampering software implementation for 73% of respondents, a decrease from 82% from the previous year.
3. Three popular factors that result in budget approval: increasing patient safety, driving cost efficiencies and fostering revenue generation.
Shortages and standardization
4. About 7 in 10 hospital pharmacy executives said streamlining pharmacy purchasing is an "important" or "very important" priority.
5. In 2022, 85% of respondents said they were grappling with at least 10 drug shortages. In 2023, that figure dropped to 60%. There was also an increase in the number of leaders using new drug shortage software solutions, or a growth from 8% in 2022 to 25% in 2023.
6. Nearly three-fourths of hospital pharmacy executives plan to standardize their formularies.
7. A third of respondents said their organizations have a central pharmacy, a trending strategy for stocking multiple pharmacies.
8. Compared to other hospital areas, drug inventory has low visibility in operating rooms, leaders said.
Drug diversion
9. Sixty-six percent of leaders use a second-generation diversion solution, resulting in fewer hours in resolving variances.
10. Eight in 10 respondents said their company has a group or committee focused on reducing drug diversion.