BD launches BD Institute for Medication Management Excellence

BD (Becton, Dickinson) has launched its new BD Institute aimed to help improve the safety and cost of health care by “encouraging transformational ways of thinking, new methods, processes, guidelines and best practices to create a foundation for measurable improvements”, as it said.

As the company stated in its press release, the goal of the Institute for Medication Management Excellence is to identify and support advancements in medication management.

The company further said that the Institute of Medication Management Excellence will initially be focused on three initiatives: opioid control and management, end-to-end IV safety and medication availability.

According to the U.S. Food and Drug Administration (FDA), 1.3 million patient injuries occur annually in the U.S. due to medication errorsi, which costs the health system $21 billion. The objective of the BD Institute for Medication Management Excellence is to uncover innovative solutions that will drive down these often preventable costs through a highly collaborative model – engaging health systems, clinicians, technology partners, regulatory organizations and key opinion leaders in the industry.

“To make the next level of advancement in medication management, we need to take a systems view and in the process, better connect technology in a way that will simplify the work and make it easier to do the right thing,” said Dr. David Bates, chief of general internal medicine at Brigham and Women’s Hospital, and professor of medicine at Harvard Medical School. “BD has the ideal platform and expertise to help advance and innovate across the discipline of medication management. The increasingly complex global health market requires leaders like BD to drive a new vision, ideas and actions across medication management together with other industry leaders.”

Ranjeet Banerjee, worldwide president of Medication Management Solutions for BD stated, “The BD Institute for Medication Management Excellence advances our goal to make medication management safer, simpler and more cost-effective, and establishes a dedicated forum to drive medication management excellence. Through this Institute, we will be working with multiple stakeholders across the medication management eco-system to try to solve complex challenges such as medication errors, drug diversion and medication availability to advance overall patient outcomes.”