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BLOOD MANAGEMENT UNIVERSITY™
Live Learning Series

Course Title: Transfusion Economics (Individual)

April 22nd, 2010, 1:00 PM EST

Presented by: Tim Hannon, MD, MBA

Medical Director, Blood Management Program
St. Vincent Hospital Indianapolis
President and CMO
Strategic Healthcare Group LLC

 Abstract:
In the current environment for healthcare reform, blood costs are increasingly on the minds of hospital administrators.  In spite of the fact that the price of blood products has tripled since 2001 and that blood use is increasing in most hospitals, lab directors and hospital administrators previously looked at these blood expenditures as the ‘cost of doing business’.  There is a growing realization that hospitals are not always using blood in an appropriate manner, and as such, better blood management becomes an essential strategy for reducing lab costs while improving quality and patient safety.

Activity based accounting studies have concluded that cost to purchase blood products represent only 19%- 28% of transfusion-related costs, and that the cost to transfuse a single unit of blood is $726- $1183.  While these costs are considerable, an additional accounting for the cost of transfusion-related adverse events such as immunosuppression can more than double the final cost to $2100- $3200 per unit.  The cost of purchasing blood products is merely the tip of the iceberg of total blood costs, when accounting for transfusion-related labor, supplies, overhead and potential adverse effects.

Objectives:
At the conclusion of this lecture, the participant will be able to:
1. Detail the cost components of collecting blood products and the reasons for blood price increases
2. Describe activity based accounting methods for blood products
3. Understand the cost components of blood transfusions within the hospital
4. Elaborate how blood management strategies can reduce hospital blood costs
5. Create a simple business plan for a blood management program

Goal:
The goal of this presentation is to explore the costs of producing and transfusing blood products, and to discuss the economics of blood management along with the merits of developing a business case for a blood management program.

Teaching Strategy:
The teaching strategy will be didactic in the form of a PowerPoint presentation, followed by a question and answer period.