Recent severe challenges in 503B supply creating need for novel, more reliable, and safer alternatives
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Feb. 3, 2020--
Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, today announced significant clinical enhancements and expansion of the Company’s unique IV compounding service, which combines advanced technology, clinical expertise, operational support, and workflow/analytics to address challenges in sterile compounding.
The complexities of IV compounding, including staffing, equipment, facilities, and regulations, have resulted in many hospitals choosing to outsource much of their sterile compounding operations. However, turmoil in outsourced compounding is leading to severe supply challenges and unpredictability, which can significantly impact patient care.1
Omnicell’s IV compounding service is an emerging alternative to commercial outsourcing. Launched in 2016, the service has grown dramatically. To further enhance the service, the company has recently added expert pharmacist consultants, best practice operating models, and a library of scientific data including cGMP stability studies. These enhancements streamline adoption and optimize performance, facilitating better production planning and personnel staffing, establishing beyond-use-dating programs, and increasing the financial return to customers. Data shows that in-house compounding costs are 66 percent lower compared to outsourcing.2
“Our recent experience with 503B outsourcing pharmacies has presented many challenges,” said Dennis Killian, PharmD, PhD, vice president of Clinical Operations, Peninsula Regional Medical Center. “Insourcing with Omnicell’s IV automation gives us control over inventory, quality, and drug spend, while helping us to achieve gains in sterile compounding efficiency and production.”
With disruption and uncertainty in the supply of compounded IV medications from outsourcers, Omnicell’s IV compounding service is one way the company partners with healthcare institutions to create an IV compounding strategy that helps to improve safety, drive down costs, facilitate compliance, and reduce dependency on the outsourcing supply base. This aligns with best practices from the Institute for Safe Medication Practices (ISMP), which recommends that organizations have a strategic plan for implementing sterile compounding technology.3
Omnicell’s increasing investment in sterile compounding technology, data, and intelligence supports the vision of autonomous pharmacy, a roadmap designed to improve patient outcomes and operational efficiencies while helping to reduce cost through a series of autonomous and digital workflows, powered by a cloud data platform.
“As health systems drive toward a zero-error, fully autonomous pharmacy vision, an IV compounding strategy, including how to safely, effectively and efficiently adopt technology, will be imperative,” said Doug Descalzi, vice president and GM, IV Solutions at Omnicell. “We believe Omnicell is uniquely positioned to partner with healthcare systems to develop their IV strategy, and to deliver the solutions necessary to achieve their compounding goals.”
Omnicell was recently recognized as the Category Leader for IV Robots in the 2020 Best in KLAS report.4
Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and expert services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 6,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 40,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.
2 Based on Omnicell internal analysis of customer data. Data on file.
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Source: Omnicell, Inc.