Biomedical subjects
Publications and source records attributed to R L Ravin.
Many challenges confront P & T Committees when trying to promote rational drug therapy that is not only safe and efficacious but cost-effective as well. Strategies are discussed for implementing successful P & T policies, including techniques for establishing a well-functioning formulary. New directions are proposed for P & T Committees to respond to our changing health care environment.
The changes in health care have had a direct impact on the functions of the P & T Committee. P & T Committee members must be prepared to face new issues, especially concerning cost-effective drug therapy. Formulary admissions and use of nonformulary agents are discussed. The role of the P & T Committee in relation to the various hospital committees, the roles of physicians and pharmacists, and the role of the pharmacy director as manager are identified. Advice regarding standardization of therapy and drug-dosing policies is provided.
ABC inventory analysis and the economic order quantity (EOQ) concept were studied as alternatives to the cyclical ordering system used by the pharmacy in a 558-bed general hospital. The inventory was divided into A, B or C groups according to the annual dollar value of the items. Two samples were selected to be studied (the first consisting of 10% of the total inventory and the second consisting of 10% of the A, or high cost, items). For each item in both samples the EOQ was calculated to estimate the proposed annual inventory cost as compared to the actual cost as determined from past inventory records. In the first sample, there was a statistically significant mean annual savings of $4.13 +/- $0.36 (S.E.) using the proposed annual cost. In the second sample there was a mean savings of $2.42 +/- $0.60 (S.E.) using the proposed method, which was not statistically significant. Most of the savings with the proposed ABC-EOQ system would occur with the low dollar value items (B and C items) which were being purchased too frequently.
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