The Rising Costs of Hospital Pharmaceutical Shortages and the Impact on Patient Care: Exploring the Use of Predictive Analytics in New York Area Hospitals
Graduate School of Business
Doctor of Business Administration (DBA)
Scott A. Quatro
Pharmaceutical Shortages, Manufacturer, Strategic Management, Patient Care, Supply Chain, COVID-19
Currin, LeTicia Laura, "The Rising Costs of Hospital Pharmaceutical Shortages and the Impact on Patient Care: Exploring the Use of Predictive Analytics in New York Area Hospitals" (2020). Doctoral Dissertations and Projects. 2679.
This qualitative case study examined the rising cost of hospital pharmaceutical shortages and the impact on patient care. This study also explored the use of predictive analytics to reduce costs and improve patient care efficiency. Increased health-care spending is partially due to prescription medication prices. Management of hospital drug procurement affects patient health, quality care, and hospital budgets, while risk management needs to minimize possible medication shortages. For patients to get the drugs that they need, pharmacists need to have resources at their fingertips to obtain a deep insight into the knowledge of drugs through the supply chain. The research questions concentrated on the causes of rising costs, the role of supply and demand, and the possibility of predictive analytics as a tool for inefficiencies relating to rising costs of hospital pharmaceutical shortages. The unexpected factor in this study was the impact of the Coronavirus (COVID-19) pandemic. Not only did COVID-19 alter the data collection method, but the data itself. Hospital pharmaceuticals were and still are greatly affected by the pandemic. The findings from this study was applied to the professional practice of business. Additionally, the researcher discussed the implication of the biblical worldview and the implication of the strategic management field of study. The report finished with suggestions for practice, suggestions for further analysis, reflections, and conclusions. The researcher also recommended that the study be conducted again with a specific pharmaceutical shortage and no global pandemic.