Inventory Planning & Contracted Rates Optimization

Proactively plan inventory for shortages, waste, and recall management. Identify all contract rate discrepancies and capture financial outcomes.

Overcoming challenges

AI Automation for Inventory Planning & Contracted Rates Optimization

Challenge #1

Manual Inventory Reconciliation & Monitoring

Healthcare organizations often face challenges in manually managing their inventory due to their diverse needs and entity-specific variables. These variables include drug access, par level requirements, patient population trends, expected usage, and more. This repetitive work typically requires involvement from pharmacists, operations teams, and pharmacy staff, consuming valuable time as they navigate through numerous disparate data sources and crosswalks reactively

Our solution

Continuous and proactive inventory optimization

Plenful’s Inventory Planning Solution offers real-time monitoring and proactive notifications that are fully configurable to the customer’s needs. It provides direct outputs related to medication inventory, including analytics on medication usage, expected usage patterns, reconciliation of wholesaler order data, and more. Give peace of mind to your pharmacy teams and spend time only where it's needed most

Challenge #2

Contracted Rates Optimizations

Many healthcare organizations experience overpayments, underpayments, and discrepancies in contracted rates, resulting in negative financial outcomes and suboptimal reimbursements. Often, the manual reconciliation work falls on pharmacy, operations, finance, and compliance teams, who must process it reactively in ad hoc, repetitive batches. Significant missed opportunities occur due to disparate, unstructured data sources, unique entity-specific crosswalks, evolving external factors, and large volumes of data

Our solution

Real-time Rates Opportunity Identification

Plenful’s Rates Solution empowers organizations to apply unlimited crosswalks, diverse rules, and manage high volumes of data to optimize contracted financial outcomes. Utilize Plenful to consolidate disparate data feeds and identify real-time financial opportunities that might otherwise be missed. Benefit from a centralized platform that includes historical data for lookback analytics and auditing purposes with AI-recommendations

Challenge #3

Infusion Medication Inventory Forecasting & Optimization

For infusion and cancer centers, the risk of medication shortages and waste is especially stressful due to the high cost of medications, limited supply on hand, and patient care impact. Analyzing the number of patients on a specific treatment plan and predicting when more patients will need a particular medication involve significant variability and complexity. Medication shortages and wastage present substantial risks to patient care and financial stability

Our solution

Proactive Medication Forecasting

Work with Plenful to proactively forecast and predict medication requirements, ensuring optimal care for patients and improved organizational outcomes. While particularly relevant for specialty disease states, Plenful’s solution can integrate with any medication requirements from your diverse data sources and crosswalks. Eliminate manual work and reduce inventory waste with Plenful

Solutions

Your Team’s Robust Tool to Support Inventory Planning and Contracted Rates Optimization

Proactive Inventory Monitoring

Strengthen your team’s ability to proactively monitor all your medication inventory levels. Set highly configurable notifications across your key medication variables through Plenful’s AI workflow automation platform

Rates Missed Opportunity Identification

Identify and capture all of your positive financial discrepancies across various contract rates, wholesaler, dispense, medication order, accumulation, and other data. Unstructured data formats welcomed

Inventory Forecasting For Optimal Care

Access a single hub for all your inventory data sources, rules, and crosswalks, providing real-time reporting on inventory forecasts to prevent shortages and minimize waste. Enhance patient support and optimize operations efficiently

"Integrating Plenful into our operations team’s workflow has unlocked our team’s potential by freeing them up to focus on more meaningful aspects of their work. Through complementing the systems we already use in our operations and utilizing Plenful’s intuitive automation platform, Plenful has been a seamless adoption process and we are excited about the direct value add of the platform.”

Dr. Peter Chang, Vice President of Healthcare Design

Tampa General Hospital

Resources