Accreditation Competitive Advantages

If you have recently filled out a request for proposal (RFP), you will see that one question that comes up over and over is “What accreditations does your organization have in place?” If your organization is not accredited with any of the major players, you could instantly lose out on future business growth opportunities.

There are challenges when determining the return on investment for an accreditation. It takes several hours of dedication to apply, document new SOP’s and implement improvements to your operations. However, there are several competitive advantages that are created by becoming accredited.

One advantage is your access to future RFP’s and business growth. This is also important when considering contract renewals for existing business. When it comes time to renew a contract, you may have to get an accreditation in order to keep the contract. This has just happened to several pharmacies who are involved with Blue Cross Blue Shield of North Carolina. They are mandating specialty pharmacies to become URAC accredited. The deadlines were tight but achievable. However, if you were not prepared and didn’t budget for these expenses, it could be a real challenge for your organization.

Another competitive advantage to accreditation is proper disaster recovery and planning. This is a something that most accreditations will review during the inspection. It will help you prepare your organization for natural disasters and other problems that could bring your business to a screeching halt. Some organization put off disaster management. They take the risk that something won’t happen. There are recent examples of organizations that were properly prepared for disaster recovery. They were able to continue their business operations during natural disasters and it instantly gave them a competitive advantage and win business during the natural disaster and future contracts.

Accreditation will hold an organization accountable on several levels. One way they do this is by forcing and organization to review and implement new policies and procedures. They guide an organization to continually improve their operations. This is another competitive advantage because this guidance can help your organization to become a leader in their specific services and products that are provided. This can get you recognized by key decision makers and improve the influx of RFP’s, thus growing your business.     

 Quintin Jessee, RPh., D.Ph.

Senior Consultant, D2 Pharma Consulting LLC

 Contact Information: Quintin.Jessee@d2rx.com

Filed under: D2 News Leave a comment
Comments (0) Trackbacks (0)

No comments yet.

Leave a comment

No trackbacks yet.