MOUNTAIN VIEW, Calif., Feb. 11, 2019 /PRNewswire/ -- Omnicell, Inc., (NASDAQ: OMCL), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, will be showcasing the industry's most comprehensive and customizable platform of medication management solutions at the HIMSS19 Conference & Exhibition, taking place February 11-15 in Orlando, FL. The Company's industry-leading medication management platform leverages automation, predictive intelligence, and expert services to help improve patient safety, simplify workflows, and decrease costs across health systems. Omnicell will also showcase the Autonomous Pharmacy vision, a roadmap designed to develop a zero error, fully automated medication management infrastructure.
According to the 2019 Healthcare IT Demand Survey from Damo Consulting, digital, advanced analytics, and artificial intelligence (AI) are top spending priorities for healthcare executives in 2019.1 With $450 billion spent on medication management annually,2 maximizing technology investments, and real-time, cloud-based reporting, analytics, and benchmarking can help drive more strategic decision making for improved business and clinical outcomes.
"As health systems look to make the most of their existing resources, Omnicell has made a significant commitment to developing a fully digitized, autonomous approach to medication management," said Nhat H. Ngo, executive vice president, marketing, strategy, and business development at Omnicell. "We're excited to be at HIMSS19 to showcase how we are working with healthcare providers to reduce human error and allow them to maximize their resources to help positively impact patient outcomes."
Today's pharmacy care delivery system is driven by outdated workflows and manual processes – with pharmacists spending 76 percent of their time on non-clinical activities according to a recent American Society of Health-system Pharmacists national survey.3 The vision for Autonomous Pharmacy integrates a comprehensive set of solutions powered by the Omnicell 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 automation of medication dispensing Workflows, which includes expert services that serve as an extension of pharmacy operations to support improved efficiency, regulatory compliance, and patient outcomes.
The foundation of Omnicell's Autonomous Pharmacy vision is a cloud data platform, where every medication is considered a unique node on the network. Tracking each dose through every stage of the hospital, from central pharmacy through patient delivery, the platform will power Omnicell's complete medication management portfolio, providing actionable intelligence that supports higher availability, improved security, increased computing power and a better experience overall.
Omnicell will showcase select products from the Company's current portfolio and its vision for the fully digitized autonomous pharmacy in Booth #2071, including:
In the central pharmacy, Omnicell's innovative automation solutions are designed to digitize and streamline workflows across the continuum of care. For example, IVX Workflow sterile compounding solution supports best practices in aseptic technique by providing step-by-step guidance for preparing IV doses according to set protocols – safely, accurately, and repeatedly. IVX Workflow is part of Omnicell's full suite of IV automation solutions that support insourced sterile compounding. Insourcing IV compounding can provide up to a 66% reduction in costs, based on ROI modeling.
On patient floors, Omnicell's XT Series Automated Dispensing Cabinets help improve workflow efficiency, medication accountability, and patient safety through the latest hardware technology and smart software features including interoperability with EHR systems. Omnicell's automated dispensing cabinets recently received the Best in KLAS ranking for the 13th consecutive year.4
Omnicell's software solutions along with expert services serve as an extension of pharmacy operations to support improved efficiency, regulatory compliance, and patient outcomes. For example, Performance CenterTM helps improve business and patient outcomes by combining cloud-based predictive intelligence with ongoing services that help optimize medication inventory, proactively manage medications shortages and expiration risk, and reduce overall medication expense. Customers have saved two to three percent of annual drug spend on average through Performance Center.
For health systems managing potential drug diversion, Omnicell Analytics software reduces the time needed to audit clinician transactions at the automated dispensing cabinets and helps facilitate documentation of suspected diversion.
XR2 as a Service combines the groundbreaking technology of Omnicell's XR2 Automated Central Pharmacy System with dedicated resources to support a more comprehensive approach to managing pharmacy medication inventory. Designed to scale with organizational growth, XR2 maximizes the return on pharmacy investment, reducing administrative burden and allowing pharmacy leadership to focus on clinical care.
These innovative solutions, which complement integrated technologies in central pharmacy, clinician workflow, and medication adherence automation, support the Company's Autonomous Pharmacy vision.
Since 1992, Omnicell has been inspired to create safer and more efficient ways to manage medications across all care settings. As a leading provider of solutions across the continuum of care, we offer a path to fully automated medication management infrastructure, powered by a cloud data platform, that supports improved patient care, fewer errors, enhanced safety, and new opportunities for growth.
Our vision for the Autonomous Pharmacy integrates a comprehensive set of solutions powered by the Omnicell 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 automation of medication dispensing Workflows, which includes expert services that serve as an extension of pharmacy operations to support improved efficiency, regulatory compliance, and patient outcomes.
Over 5,000 facilities worldwide use Omnicell automation and analytics solutions to increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. And more than 40,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions.
To learn more about Omnicell and our Autonomous Pharmacy vision, please visit www.omnicell.com.
1 Healthcare Innovation. "Survey: Digital, AI Top Priorities in 2019, but EHRs Will Dominate IT Spend." (Accessed 2/5/19). https://www.hcinnovationgroup.com/population-health-management/news/13031072/survey-digital-ai-top-priorities-in-2019-but-ehrs-will-dominate-it-spend
2IQVIA Institute Report. (2018). Medicine Use and Spending in the U.S. A Review of 2017 and Outlook to 2022
3Pedersen, Craig & Schneider, Philip & Scheckelhoff, Douglas. (2016). ASHP national survey of pharmacy practice in hospital settings: Monitoring and patient education-2015. American journal of health-system pharmacy : AJHP : official journal of the American Society of Health-System Pharmacists. 73. 10.2146/ajhp160081.
42019 Best in KLAS: Software & Services, KLAS Enterprises, LLC. All rights reserved. www.KLASresearch.com
SOURCE Omnicell, Inc.