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Performance Center Software and Services Offering Drives Medication Cost Savings
Mountain View, California
Omnicell, Inc. (NASDAQ: OMCL) today announced that Inova, a not-for-profit healthcare system based in Northern Virginia, will incorporate the Omnicell® Performance CenterTM, an integrated software and services offering designed to drive improved pharmacy operations and reduce costs, while supporting patient safety.
As health systems face increased drug spending and industry consolidation, hospital leaders are looking for tools that help optimize visibility across their system, enabling them to be more strategic in their medication ordering and distribution decisions. Performance Center offers a new model, the first of its kind for the industry, to advance more efficient pharmacy operations, helping customers to meet regulatory requirements and ultimately improve patient outcomes. Early customers of the Performance Center are saving an average of two percent of their medication spend each year.
“Our desire is to achieve enterprise-wide management of our pharmacy operations,” commented Melanie Massiah-White, Inova executive director, chief pharmacy officer. “This includes shared inventory visibility, inventory optimization through relocation of needed medications, and leveraging strategic buying opportunities. We look forward to working with Omnicell to achieve these goals.”
Performance Center leverages advanced supply chain capabilities to reduce costs and improve enterprise-wide management of one of the health system’s largest cost centers. Benefits of the integrated software and services offering include:
Proactive monitoring of enterprise medication data by a team of experts with the goal of identifying actionable inventory optimization opportunities
Ability to view and act on medication inventory demand in real time at every level of the health system
Mitigation planning for drug shortage and expired medication risk
Automation of workflow processes for centralized medication distribution
Delivery of pharmacy scorecard for tracking progress against optimization and cost reduction goals
Regulatory compliance with 340B and CSOS regulations
“Through long-term partnerships with our customers, Performance Center is a unique approach that allows us to develop and implement incremental, yet impactful changes that will help drive down costs while freeing up critical resources, helping to contribute to positive patient outcomes,” said Nhat H. Ngo, executive vice president, Strategy and Business Development at Omnicell.
Inova is a global leader in personalized health, which leverages precision medicine to predict, prevent and treat disease, enabling individuals to live longer, healthier lives. Inova serves more than 2 million people each year from throughout the Washington, DC, metro area and beyond, shaping the future of health through an integrated network of hospitals, primary and specialty care practices, emergency and urgent care centers, outpatient services and destination institutes. For more information, visit inova.org.