HealthPRO Completes 17 Supply Agreements for Sole Source Products Ensuring Price Stability
With sole source innovator drugs including patented medications and biologics now representing 60-80% of hospital pharmacy spend, it is becoming increasingly important to have these items on contract.
HealthPRO’s Pharmacy Innovation service recently completed 17 Pharmacy Supply Agreements on behalf of members, with many more underway.
“Through these agreements, members can be assured of predictable pricing to support budgeting and forecasting for the duration of the agreement,” says Sara Saral, HealthPRO’s Business Director, Pharmacy Innovation.
This is the first cycle of negotiated supply agreements for HealthPRO's Pharmacy portfolio. “We’re seeing many sole source suppliers come to the table and we’ve been successful in securing contracts for our members, where previously no contract existed,” notes Saral.
Despite being sole source products, HealthPRO abides by the same principles as other contracts, engaging in a fair and transparent procurement process as outlined by the relevant governing bodies and conducting product evaluation for quality and safety.
“Wherever possible, Markham Stouffville Hospital prefers to have products available on HealthPRO contract,” says Shellyna Moledina, Director of Pharmacy, Markham Stouffville Hospital. “Whether you’re talking about quality, regulatory compliance or pricing, I know if it’s on contract with HealthPRO, all my bases are covered.”
Awarded suppliers include:
For more information, please contact:
Business Director, Pharmacy Innovation
905-568-3478 ext. 340