What You Should Know:
– IBM Watson Health and OrbitalRX launches an integrated solution to assist hospital pharmacy providers in managing drug shortages.
– Joint offering pairs pharmacy supply chain management
capabilities with evidence-based drug content, designed to help hospital pharmacy
teams manage drug shortages.
– OrbitalRX with Micromedex will create a single source
for healthcare providers and pharmacists to access the latest evidence-based
clinical information alongside a hospital’s current drug inventory status and
drug sourcing options.
Health and OrbitalRX announced a
strategic collaboration that aims to help address the emerging U.S. drug
shortage crisis. The companies are combining OrbitalRX’s Drug Shortage
Management Platform and IBM® Micromedex® into one unified solution
and Micromedex,” designed to create a single source for healthcare
providers and pharmacy teams to access evidence-based treatment information
alongside a hospital’s current drug inventory status and drug sourcing options.
This one solution aims to quickly analyze the supply chain and identify
clinical alternatives for drugs that are in short supply.
COVID-19 Underscores Global Drug Shortage
The global drug shortage crisis has accelerated at an
alarming rate during the COVID-19 crisis. According to the American
Society of Health-Systems Pharmacists (ASHP), close to 200 drugs are
currently on the drug shortage list in the U.S. alone. Management of these
shortages is further complicated by the fact that shortages vary by drug and
location, as noted by the American
Medical Association (AMA).
The new solution, OrbitalRX, and Micromedex, will be designed to evaluate important drug information, clinical evidence, and comparative efficacy, alongside the hospital’s drug inventory, purchase history, and utilization data, enabling hospital providers, pharmacists, and pharmacy technicians to proactively manage drug shortages.
IBM Micromedex is one of the largest online reference databases for medication information. It is used by more than 4,500 hospitals and health systems worldwide to help support decision-making in medication therapy management, disease and condition management, toxicology, alternative medicine, and patient education. OrbitalRX is the only platform designed by hospital pharmacists, for hospital pharmacists, to unify supply chain and clinical utilization to manage drug shortages and deliver the power of real-time situational awareness in hospital pharmacy workflows.
“Hospital resources are scarcer than ever, especially with drug shortages and supply chain inefficiencies conspiring daily to upend the rigorous efforts of health systems to improve care quality while reducing cost,” said OrbitalRX co-founder and Chief Product Officer, Nate Peaty, PharmD, MS. “With these challenges in mind, OrbitalRX and Micromedex plan to provide health systems with a highly intelligent and automated solution designed to help them with one of the most frustrating issues they face today.”
OrbitalRX and Micromedex is anticipated to be available
in Q4 2020.