Buying Off Contract? See Clearly with InformIQ.
When it comes to drug shortages, let’s have an honest conversation about cost – not just the price tag of a solution, but the real cost of inaction.
Consider this: According to recent studies, drug shortages are costing hospitals at least $359 million annually in additional labor costs alone. (Matocha 5) (And that was pre-pandemic. We know the number is much greater now) That’s just the tip of the iceberg. Your teams are spending countless hours – part of an estimated 8.6 million personnel hours annually across U.S. hospitals – managing shortage impacts instead of focusing on patient care.(Matocha 6)
But the most concerning costs aren’t always visible on your balance sheet. As one industry report notes, “hospitals are frequently forced to purchase expensive, unfamiliar alternative medications at different concentrations than their typical stock. This unfamiliarity can lead to over- or underdosing of patients.” (Matocha 10) What’s the price we’re really paying?
At InformIQ, we understand that high-achieving, innovative pharmacy leaders like you recognize that cheaper isn’t always better. You’re looking for strategic partners who deliver real impact and value. That’s exactly what we provide.
Our comprehensive solution delivers tangible returns in multiple ways:
Immediate Savings:
- Real time notifications on emerging shortages, enabling contract purchases before price spikes (click here to get a sample of our market update)
- Zero added markups
- Strategic timing of purchases to avoid market peaks. We’ll do the hard work and piece together orders from multiple vendors to get you the quantities you need.
- Potential credits with your contract partners
Operational Efficiency:
- Centralized sourcing and delivery management – we do the heavy lifting
- Elimination of multiple vendor coordination – let us call and handle the logistics to your doorstep
- Extended 60-day credit terms for better cash flow management
- Thousands of staff hours reclaimed
Critical Intangible Benefits:
- Enhanced care provider morale through reliable drug availability
- Reduced risk through familiar product access
- Improved patient outcomes
- Peace of mind from having a dedicated partner
For organizations that understand the devastating impact of drug shortages, our solution targets 3-5x return on your investment. We’re proud of creating this value for our members and stand by it.
As a reminder, we’re limiting our service to maintain the highest quality support for each member. Once these slots are filled, they’re gone.
Ready to learn more? Here’s our straightforward pricing structure:
- Base subscription: $7,000 monthly
- Each purchasing location: $500 each monthly
This investment pales in comparison to the real costs of drug shortages impacting your team. We’re here to help you reclaim those costs and more.
You’ve been through enough already. Don’t fight this current challenge alone. Schedule your consultation and secure your spot.
Leading the change in pharmaceutical supply chain management,
Kenny
P.S. Remember, we’re not for everyone – and that’s by design. We partner with organizations that understand the true cost of drug shortages and value expertise. Is that you?
Works Cited: Matocha, Nancy. Drug shortages and labor costs: Measuring the hidden costs of drug shortages on U.S. hospitals. Vizient, n.d. https://wieck-vizient-production.s3.us-west-1.amazonaws.com/page-Brum/attachment/c9dba646f40b9b5def8032480ea51e1e85194129