Omnicell to Unveil Latest Advancements to Its Medication Management Solution Portfolio in Automation, Intelligence, and Services at 2019 ASHP Midyear Meeting
Mountain View, California
Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, today announced that it will showcase the Company’s latest advancements to its medication management solution portfolio at this year’s American Society of Health-System Pharmacists 2019 Midyear Meeting, to be held in Las Vegas from December 7-11, 2019. Omnicell’s new innovations and service capabilities advance the Company’s vision for the autonomous pharmacy, a roadmap to help improve patient outcomes and operational efficiencies.
Autonomous pharmacy integrates a comprehensive set of solutions, powered by a cloud data platform, across three key areas: Automation - solutions designed to digitize and streamline workflows; Intelligence - that provides actionable insights to better understand medication usage and improve pharmacy supply chain management; and Expert Services - that serve as an extension of pharmacy operations to support improved efficiency, regulatory compliance, and patient outcomes.
“Every day, pharmacists and clinicians face significant challenges while trying to deliver quality patient care. At Omnicell, we are committed to developing the technology and tools that will help protect patients and empower practitioners,” said Scott Seidelmann, executive vice president and chief commercial officer at Omnicell. “We are delivering innovations in automation and intelligence, supported by expert services that are helping to drive improved operational, financial, and clinical outcomes across the continuum of care.”
The United States spends $485 billion on medications each year, 1 about one-seventh of total healthcare expenditures. The average health system pharmacy model is built around manual, inefficient processes that are perpetuating one of the greatest drivers of cost and risk for error in a hospital. With highly trained pharmacy professionals spending approximately 75 percent of their time on non-clinical work,2 patient care and clinical activities are also affected by inefficiencies in the current model.
“As pharmacy practice models shift away from drug distribution models and toward patient-centric models, pharmacists and nurses need to be equipped with the tools and resources to allow them to spend more time with patients,” said Jennifer Tryon, PharmD, MS, FASHP, associate vice president and chief pharmacy officer at Wake Forest Baptist Health. “Autonomous pharmacy thoughtfully applies and integrates technology into today’s medication use process to realize this goal, improving safety, financial performance, efficiency, regulatory compliance, and patient and staff experiences.”
Omnicell will showcase the Company’s latest innovations and service capabilities in Booth #1018, including:
Lack of connectivity and visibility across disparate systems limits understanding of, and opportunities for, using rich patient and inventory data to make more strategic business and clinical decisions. A 2018 survey reported that 98 percent of healthcare executives believe that automated patient experiences will transform the communication and delivery of care.3
Omnicell One, announced today and commercially available in 2020, is the next evolution of Omnicell’s Performance Center solution. This new technology-enabled service is designed to consolidate data across the automation layer, beginning with XT Automated Dispensing Cabinets. It creates greater insight into an organization’s medication and clinical needs, leveraging predictive and prescriptive analytics to recommend and deliver actionable workflow improvements through:
- Dashboards providing visibility to key inventory health metrics, including inventory spend and expired medication reduction opportunities, as well as indicators of potential diversion activity;
- Actionable insights from analytics and expert coaches to optimize medication spend and investigate possible diversion activity; and
- Advanced workflow tools that make optimization simple and automated.
Omnicell’s vast network of health system partnerships, encompassing nearly 50 percent of hospital pharmacies across the United States, provides greater insights for developing sophisticated best practices. Omnicell systems currently monitor over 400TB of data, and 75 million integration messages between systems, specific to medication management. Omnicell One leverages this domain expertise to drive greater clinical standardization, reducing all variations, and viewing the compliance of best practices down to a specific cabinet. Organizations standardizing best practices have experienced an average of 2 to 3 percent reduction in overall drug spend.4
Today’s healthcare systems are challenged to leverage data and technology to optimize operations, improve clinical outcomes, and deliver a more consumer-centric healthcare experience. Yet, according to a study by the IT Research firm, The Standish Group, only 29 percent of healthcare IT projects are considered to be successful.5
Omnicell is announcing the availability of Professional Services designed to deliver an accelerated time-to-value for implementation projects and greater achievement of anticipated outcomes by:
- Gaining alignment on strategy, solutions, and expected outcomes through initial project discovery;
- Developing a customized program plan with clear scoping and milestones, and change management;
- Configuration, installation, and training, with benchmarking on progress against the success criteria and defined key performance indicators; and
- Go-live and transition to customer success, including establishing a support structure to maintain focus on performance and functionality post-implementation.
Medication logistics and inventory management are manual processes that require human touch and intervention at almost every stage in the medication management journey, creating the opportunity for error. It is estimated that health systems dispensing more than 5 million doses of medication will experience 25,000 errors annually. 6
The latest innovations in Omnicell’s portfolio of automation solutions, which complement integrated technologies in central pharmacy, point of care, and cloud-based infrastructure, support the next major step toward the Autonomous Pharmacy vision:
- Auto Packager, a new module for the XR2 Central Pharmacy Dispensing System that supports walk-away, unattended operation for cabinet or patient fill by up to three times the quantity, allowing staff to focus on other meaningful work, leading to immediate time savings and increased pharmacy tech satisfaction.
- An expanded global formulary for Central Pharmacy IV Compounding Service that features flexible formulations designed to address the rigidity in IV workflow systems by removing restrictions and optimizing workflow, allowing users to achieve automation of nearly 100 percent of all sterile compounding doses.
- New ISMP Medication Character Search functionality for XT Automated Dispensing Cabinets that supports recent guidelines issued by the Institute for Safe Medication Practices that recommend a five character search to ensure a unique drug name, supporting improved safety in medication dispensing at the point of care.
Population Health Solutions
With nearly $300 billion lost annually due to medication non-adherence and other associated costs,7 population health is a key pillar of the autonomous pharmacy vision. Omnicell’s Population Health Solutions division offers robust analytics, multiple messaging channels, and patient-specific interventions to tailor care based on population needs and goals, all designed to improve medication use and patient health outcomes.
- New voice services technology, available through the Omnicell Patient Engagement platform, provides easier patient access to their retail pharmacy. Designed with input from Giant Eagle Pharmacies, this new technology allows patients to refill prescriptions and set medication dose reminders through an effortless conversational dialogue with their voice services device.
- A new Opioid Solution module identifies pharmacy patients who are at high risk for opioid overdose and supports naloxone co-dispensing to improve patient safety.
Omnicell continues to invest in intelligence, automation, and services to support better medication management processes across the continuum of care. These latest advancements support our vision to transform the pharmacy practice delivery model to dramatically improve outcomes and lower costs. For more information, please visit www.omnicell.com.