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Executive Summary

DRUG INDUSTRY/PHARMACY JOINT EFFORT TO ADVISE HOSPITAL ADMINISTRATORS of the value of pharmaceutical services should be conducted, Pharmaceutical Mfrs. Assn. President Gerald Mossinghoff told pharmacists at the Ohio Pharmaceutical Seminar in Columbus May 2. Mossinghoff said that the drug industry "must work with the pharmacy profession to insure that the true value of pharmaceutical services is fully recognized by hospital administrators." Mossinghoff's comments on drug industry joint efforts with professional pharmacy echo the thoughts of several pharmacy leaders speaking at PMA's recent annual meeting. For example, APhA President John Schlegel told PMA that the assn.'s studies on the cost effectiveness of drugs could be improved by including data on the value of pharmaceutical services provided by pharmacists ("The Pink Sheet" April 22, p. 15). Hospital administrators will need to be informed of the value of pharmaceutical services, Mossinghoff said, to insure that their drug decisions are not based solely on short-term cost cutting concerns. Noting that because of escalating health care costs a "prospective payment or pricing system seems to be on the way," Mossinghoff declared that "our market is expanding beyond physicians to include hospital administrators, DRG coordinators and clinical pharmacists -- all of whom will be involved in drug decisions." Mossinghoff explained that those making drug decisions will base their judgements "much more on considerations of cost-effectiveness, therapeutic benefits and cost savings in non-pharmacy services." At the same time, Mossinghoff continued, "pharmacists will be required more than ever to make difficult decisions that balance cost considerations with judgements about quality of care." If the drug industry and pharmacists fail to inform hospital administrators of the value of pharmaceutical services, "the new technology and therapies developed by our industry -- and their long-term value in saving money -- could be sacrificed to short-term, short-sighted efforts to try to save money," Mossinghoff asserted.

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