SUPPLEMENTING THE RIGHT WAY- EFFECTIVE COST MANAGEMENT OF MULTIVITAMIN SYRUPS IN A PAEDIATRIC HOSPITAL
Author(s)
Lim KS, Caleb JS
KK Women's and Children's Hospital, Singapore, Singapore
OBJECTIVES: Multivitamins containing lysine are dietary supplements commonly prescribed to improve appetite and promote growth in children. Historically, KKH carried two brands of multivitamin syrups (Brand X and Y) in the formulary, but in 2012, the Pharmacy and Therapeutics (P & T) committee reviewed the need for two similar formulary products.This project illustrates an evidence-based review process of multivitamin syrups and highlights the potential cost-savings. METHODS: A literature search was performed to ascertain any standard vitamins, minerals and lysine requirements in children. The differences between both brands were identified. In 2012, the choice of multivitamin syrup was based on usage (2010 – 2012). In 2015, however, a Request for Proposal (RFP) for multivitamin syrups containing lysine was called, where Brand X, Y and Z participated. A cost-minimization analysis was performed and the expert opinions of the hospital’s paediatricians and dieticians were sought. Costs and hospital movement (formulary and retail) of Brand X and Y were analysed from 2012 to 2014 to aid formulary decision. RESULTS: There are no specific recommendations on the most effective multivitamin, including lysine amounts. A 2-year data analysis (2010 – 2012) revealed a usage of approximately 12,800 bottles ($137,000) of Brand X and Y in the hospital (formulary and retail). In 2012, Brand Y was removed from the formulary as movement was lower compared to Brand X (2733 vs. 6564 bottles). However, this had minimal impact on prescribing patterns as estimated usage and costs of both brands in the hospital remained similar.For the 2015 RFP, Brand Y offered a competitive 22% decrease in cost. With Brand Y selected, there is a potential cost-savings of $20,000 and $18,000 to patients and hospital, respectively, assuming similar usage. CONCLUSIONS: This project demonstrates that cost-savings can be achieved through creating competition which is essential for formulary management to increase the value for healthcare consumers.
Conference/Value in Health Info
2016-09, ISPOR Asia Pacific 2016, Singapore
Value in Health, Vol. 19, No. 7 (November 2016)
Code
PIH6
Topic
Economic Evaluation
Topic Subcategory
Cost-comparison, Effectiveness, Utility, Benefit Analysis
Disease
Pediatrics