Cost-Benefit Analysis of a Hospital Pharmacy Bar Code Solution

Abstract

Background: Bar coding can reduce hospital pharmacy dispensing errors, but it is unclear if the benefits of this technology justify its costs. The purpose of this study was to assess the costs and benefits and determine the return on investment at the institutional level for implementing a pharmacy bar code system. Methods: We performed a cost-benefit analysis of a bar code-assisted medication-dispensing system within a large, academic, nonprofit tertiary care hospital pharmacy. We took the implementing hospital's perspective for a 5-year horizon. The primary outcome was the net financial cost and benefit after 5 years. The secondary outcome was the time until total benefits equaled total costs. Single-variable, 2-variable, and multiple-variable Monte Carlo sensitivity analyses were performed to test the stability of the outcomes.

Improving Safety And Eliminating Redundant Tests: Cutting Costs In U.S. Hospitals

“…[21][22][23][24] Hospitals are often reimbursed a higher amount when patients suffer an adverse event (such as a nosocomial infection). Efforts to improve safety could save payers money but leave hospitals with lower levels of revenue.…”

Utilization of Technology to Prevent Medication Errors in Health Care Institutions

“…Akıllı pompa ve bar kod teknolojisi 1.2-1.5 milyon $ maliyet ve 500 bin $ bakım-onarım giderine sahiptir 20 . Öte yandan hastanelerde her istenmeyen ilaç reaksiyonunun yaklaşık 2,200$ ve engellenebilir istenmeyen ilaç reaksiyonunun 4,685$ maliyete sebep olduğu tahmin edilmektedir 34 . Araştırıcılar sağlık bilgi teknolojilerine yatırım yapmanın önemli bir finansal kazanç olarak geri dönüş sağlayacağını belirtmektedirler.…”

Maximising Patient Throughput using Discrete-event Simulation

“…The National Health Service (NHS) of England, despite being viewed as one of the best health systems in the Western world (Davis et al, 2014), is facing some of the toughest challenges since its inception in 1948 (NHS England, 2013). Since 2009 these challenges have been focussed heavily on cost efficiencies and reducing overall operating costs (Nicholson, 2009;Carter, 2016).…”

“…The utilisation of clinical staff is highlighted as the biggest area (£2bn per annum) of potential cost savings through an optimised use of the clinical workforce (Carter, 2016). This is further combined with continued work towards improving patient satisfaction (Nicholson, 2009;NHS England, 2014) through a reduction in waiting times and crowding (Bernstein et al, 2009). Similarly, changing demographics gives rise to a changing NHS as the needs of the population put a varying amount of pressure upon the health service (Department of Health, 2013).…”

“…Finding the optimum between waiting times, clinician utilisation, space utilisation and patient satisfaction is increasingly challenging. There has been much work in both academia and industry to analyse existing situations and provide solutions to improve the efficiency and effectiveness of care in healthcare facilities (Gunal and Pidd, 2006;Marcario, 2006;Maviglia et al, 2007;Hendrich et al, 2008;Bernstein et al, 2009;Dexter and Epstein, 2009;Reynolds et al, 2011;Greenroyd et al, 2016).…”