By Kayla Green, Vizient
The Vizient Pharmacy Aggregation Groups – formerly the Pharmacy Network Program – is an alliance of provider member hospitals that work collaboratively to aggregate purchasing volume and clinical expertise to generate mutually beneficial contract savings while providing high-quality patient care. Participating group members worked alongside Vizient to achieve more than $359M in member value across 21 Pharmacy Aggregation Groups and 369 health systems.
"Our Vizient Pharmacy Aggregation Groups connect pharmacy leaders from across the country to advance performance improvement efforts by leveraging data insights and peer-to-peer expertise to optimize quality of care," said Ginger Ertel, vice president, pharmacy member services.
Chart shows year-over-year growth in total member spend for acute and non-acute class of trade for Vizient and the Pharmacy Aggregation Groups.
The top 12 multinetwork contracting initiatives in 2022 delivered $124.5M in member value, provided a more reliable supply chain and improved clinical quality. The Pharmacy Aggregation Groups provided the following value to members:
- Rebid the Closed System Transfer Device category with the collaboration of a subject matter expert (SME) panel comprised of pharmacy aggregation group members. Participating suppliers provided demonstrations to the SME panel, ultimately determining a list of preferred vendors within this category.
- Optimized capturing of New Technology Add-On Payments (NTAP) by working with members to develop more robust processes for claim submissions, resulting in $11M in revenue gain for members.
- RxCommit – a contracting solution for member health systems and hospitals to standardize their formulary preferences for enhanced value — grew to 17 members, representing $3B in spend and $7.8M in member value.
- The Vizient Oncology Network (VON), which brings together health system oncology practices and clinics to drive value of branded products and achieve better patient outcomes, grew to 33 members, including 11 National Comprehensive Cancer Networks representing $6B in total oncology spend and $23M in member value.
In addition to new contracting and utilization opportunities, members also participated in SME expert panels, provided valuable input into initiatives, and were actively engaged in networking opportunities that fostered collaboration and best practices.
Visit the Pharmacy Aggregation Program webpage to read the full report and learn more.