Armor provides a high standard of quality health services to our patients. At the same time, we effectively control costs for our clients. We recognize that frequent and open communication is the foundation for a smooth-running operation and the key to controlling and reducing costs. We meet frequently with our clients to identify opportunities to enhance services and reduce costs. We also provide an annual in-depth review in which we present a comprehensive assessment of the program and highlight opportunities to address cost-related issues.
We work with our clients to monitor prescribing trends, drug costs, formulary make-up, and overall pharmaceutical utilization. We actively manage the formulary and use monthly reports to assist in the analysis of costs and prescribing trends, as well as to identify specific opportunities for cost reduction.
In addition, our Chief Pharmacy Officer consults with staff and providers, and reviews utilization to identify trends or areas of potential concern. We analyze each site’s medication usage to determine appropriate levels of stock vs. patient-specific pharmaceuticals, which helps to minimize waste and control costs.
As part of our on-going pharmacy utilization review, we compare practice across all our facilities to ensure up to date knowledge of pharmaceuticals and best practices. Our Chief Pharmacy Officer also conducts regular on-site pharmacy audits which helps to ensure improved site management and compliance.