VEND helping trusts to reduce waste and costs
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With only 47 days left until Christmas, our thoughts turn to…online shopping. Did you know that in the run-up to the festivities last year, British consumers spent almost £25 billion online?
We’re all certainly used to “Buy it now” buttons: the Office for National Statistics says that online retail spending is increasing almost 20 per cent year-on-year, so that £25bn is certain to be beaten in 2016.
That’s all very interesting, you may be saying, but what has this got to do with my Trust?
Well, you can now use similar technology to help your Trust save money by managing medicines nearing their expiry.
Rx-info launched its VEND software this summer to help Trusts reduce both their costs and their waste. It matches supplies of pharmaceuticals close to their expiry dates and which are no longer required with Trusts which could make use of them.
Once matched by VEND, transactions are carried out on a trust-to-trust basis. This means that the vendor recoups some of the cost of the unused pharmaceuticals, and reduces waste, while the buyer gets in-date stock they need at a reduced cost. Crucially, the NHS drugs bill overall falls.