Joint EFPIA – Be4ward Press Release announcing the publication of a new report “Benefits beyond the EU Falsified Medicines Directive - The hospital setting”
Following the introduction of the Falsified Medicines Directive legislation in the EU, Be4ward, the supply chain transformation consultancy, has published a new report which looks beyond the prevention of falsified medicines to understand what other benefits can be gained in the hospital setting.
The EU FMD, introduced to prevent fake medicines, has also brought about the standardisation of medicinal product identification and common 2D barcodes on all prescription medicinal packs. This enables hospitals to leverage further benefits opportunities which were difficult to achieve before this level of harmonisation and barcoding prevalence.
The report, commission by EFPIA, illustrates how benefits exist at all points across the hospital supply, where the EU FMD pack is handled, stored and processed including in: Logistics, Manufacture & transformation and Clinical.
The use of barcoding and product identification brings impressive financial benefits to those hospitals which leverage them. In one hospital alone they were able to save £4 million through the reduction of over ordering products. These savings can be used to offset the costs of implementing and operating the EU FMD within the hospital setting.
Applications of a standardised 2D barcode go beyond supply chain efficiencies and increasing patient safety, having impacts on clinical effectiveness and new payment models. These barcodes even open up the opportunity to digitally web enable products allowing the provision of live data and services directly to the healthcare provider.
To learn more about the benefits of the EU FMD within the hospital setting and access the report click here.