The LSU Health Foundation is working with PBM Solutions to create a pharmacy that would directly help organizations grappling with rising health care costs. The nonprofit model offers an innovative, yet simple solution—a customized on-site pharmacy—that minimizes costs, while maximizing value.
The non-profit pharmacy would supply prescription drugs and medications to the faculty, staff and students of the LSU Health Sciences Center campus. The primary benefits of an on-site pharmacy include:
With the generous grant from The Joe W. and Dorothy Dorsett Brown Foundation, the LSU Health Foundation plans to move forward in taking crucial steps to explore, initiate and open the pharmacy in New Orleans Health Sciences Center in 2022.
“We are extremely proud of expanding and improving our mission related services through the utilization of cutting-edge entrepreneurial initiatives like this one,” says LSU Health Foundation President and CEO Matthew Altier. “The LSU Health Foundation is both proud and grateful to our partners like the Brown Foundation who recognize innovation as a way to grow and help the community where and when most needed.”
The Joe W. and Dorothy Dorsett Brown Foundation aims to contribute to the betterment of communities, alleviating human suffering, and supporting educational initiatives. Grant support includes Human Services; Medical, Health & Science; Education; Community Benefit and Conservation & Environment.
“We at the Joe W. Dorothy Dorsett Brown Foundation are deeply honored to play a small part in the launch of this new pharmacy project with the LSU Health Foundation,” says Brown Foundation Program Officer Ronald P. Spencer, MD. “We hope this program will demonstrate a new path to reduce the perennial imbalance between medical needs and costs and we hope to see this program replicated in other areas around the great state of Louisiana.”
The $250,000 investment would be spread over three years, covering expenses such as business legal fees, licensing, drug inventory, store build outs, and employee hiring and training. The final goal would be pharmacies at LSU Health Sciences Center and Lake Charles and the plan to expand to new locations in the future.
For more information or client saving examples, please contact LSU Health Foundation President and CEO Matthew Altier, firstname.lastname@example.org