Omnicell and Sentry Data Systems Announce Partnership Agreement
MOUNTAIN VIEW, Calif., Aug 10, 2010 /PRNewswire via COMTEX News Network/ -- Omnicell, Inc., (Nasdaq: OMCL) a leading provider of system solutions to acute healthcare facilities, today announced a partnership agreement to co-market Sentry Data Systems' Sentinel RCM(TM) application, which has a sophisticated 340B solution component. Sentry specializes in providing solutions to address a variety of financial challenges found within hospitals and pharmacies while Omnicell's WorkflowRx(TM) software offers a complete inventory management system for hospital pharmacies.
The Sentinel RCM software will integrate with Omnicell's new WorkflowRx 7.0 software to address the inventory management, financial reconciliation and compliance aspect of participating in the 340B Drug Pricing Program.
The Federal 340B Drug Pricing Program provides access to reduced price prescription drugs to health care facilities certified by the U.S. Department of Health and Human Services (HHS) as "covered entities." Hospitals with a Disproportionate Share Hospital (DSH) adjustment percentage of greater than 11.75 percent meet the adjustment percentage requirement to participate in the 340B Program. Hospitals must also meet other qualifying criteria (http://www.hrsa.gov/opa/dsh.htm). Significant savings on pharmaceuticals may be seen by entities that participate in this program.
"As IDNs (Integrated Delivery Networks) face reductions in reimbursements, managing the cost and inventory turns of drugs in the revenue cycle will become increasingly important. The integration of Sentry's Sentinel RCM software with Omnicell's WorkflowRx will improve visibility and management of hospital drug costs which saves our clients time and money while improving their operations," commented Travis Leonardi, Sentry Data Systems' founder and president.
"We are pleased to be partnering with Sentry to offer an easy-to-use, proven technology for our customers," said Marga Ortigas-Wedekind, Omnicell vice president, global marketing and product development. "The partnership with Sentry will allow Omnicell to offer our pharmacy customers a 340B solution to enhance their inventory management capabilities while realizing significant medication cost savings."
Sentry Data Systems, Inc. builds innovative and intelligent technology solutions for the healthcare industry. Sentry's web-delivered applications solve the complex and varied challenges facing hospitals, integrated delivery networks (IDNs) and retail pharmacies.
Sentry simplifies pharmacy and med/surg procurement management and full revenue cycle management with the CORE features and modules of its integrated system Sentinel RCM(TM) (Revenue Cycle Manager). Sentry creates revenue streams and provides point-of-sale compliance with its pharmacy transactions processing platform Sentrex(TM). Sentry ensures meaningful use of patient data, develops quality indicators, and follows applicable protocols with its analytics application HealthBIT(R) (Business Intelligence Technology). Sentry deploys these products on its versatile healthcare computing cloud, the Datanex(TM) Platform. Its components (GRID, NET, ETL, API, QDC) create a comprehensive, massively scalable, ultra high performance data infrastructure available to independent software developers and healthcare entities.
Sentry's products serve hundreds of hospitals and pharmacies in more than 30 states.
For additional information go to www.SentryDS.com.
Omnicell, Inc. (NASDAQ: OMCL) is a leading provider of systems to enable healthcare facilities to increase operational efficiency, enhance patient safety and allow clinicians to spend more time with their patients.
Founded in 1992, Omnicell's medication-use solutions include complete automation systems for the central pharmacy, anesthesia workstations for the operating room, dispensing cabinet systems for nursing units, and safe, secure medication transportation and verification systems to the patient bedside. From a medication's arrival at the receiving dock to its dosing to the patient, Omnicell systems store it, package it, bar code it, order it, issue it, and provide information and controls on its use and reorder.
Omnicell supply product lines provide a healthcare institution with comprehensive supply chain solutions that result in fast, effective control of costs, capture of charges for payer reimbursement, and timely reorder of supplies. Products range from high-security closed-cabinet systems and software to open-shelf and combination solutions in the nursing unit, cath lab and operating room.
For more information, visit www.omnicell.com.
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SOURCE Omnicell, Inc.
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