Pharmacy Buyers Collaborative

Prescription drug costs, shortages, and access to medications continue to plague hospital and retail pharmacies. Often due to shortcomings in production, quality assurance, scarcity of active pharmaceutical ingredient, or increased market utilization, medication shortages have disrupted pharmaceutical supply-chain workflow for over a decade. With limited relief on the horizon and generic manufacturers leaving the market due to narrow profitability, inventory management is of paramount concern for pharmacies. In an effort to mitigate provider or patient impact, RWJBH Pharmacy Buyers have employed best in class buying practices through systematic purchasing processes and enhanced communication. Additionally, while managing unrelenting pharmaceutical supply chain disruptions, Pharmacy Buyers navigated and supported a health system wide group purchasing organization (GPO) conversion, affirming contract price enactment with wholesalers and satisfying rebate thresholds.

Membership

Chair: Corporate Director 340B Program
Members: System Director Pharmaceutical Procurement, Clinical Coordinator, Pharmacy Buyers, 340B Analysts, Pharmacy Purchasing Coordinators and IT Specialist

Meetings

The Pharmacy Buyers Collaborative meets virtually on a monthly basis.

Collaborative Purpose

The Pharmacy Buyers Collaborative initiated in 2017 as a semi-annual meeting for all RWJBarnabas Health pharmaceutical procurement stakeholders. Corporate Pharmacy identified value in facilitating increased communication and collaboration between key stakeholders within the health system. Therefore, to supplement annual meetings and other pharmacy enterprise collaborative efforts, the collaborative added brief monthly calls to address high-ticket items.

During 2023 the collaborative was instrumental in facilitating a smooth GPO conversion, ensuring a high level of contract compliance for the initial transition of products and identifying wholesaler contract discrepancies. Additionally, the collaborative continued its execution of a centralized hub for high dollar, high volume, shorted, and unique medications through RWJBH Consolidated Pharmacy Services. Continuing its goal for 2024, the collaborative remains resolute in maintaining lean, cost effective inventory processes while ensuring pharmaceutical supply chain interruptions do not clinically affect RWJBarnabas Health patients.

Pharmacy Buyers Collaborative Membership