Vizient Collaboration with MedShorts Enables Members to Save on Drug Costs
Summary
IRVING, Texas--( BUSINESS WIRE )--In June 2017, Vizient began collaborating with the independent software company MedShorts to develop a first-to-market platform that allows pharmaceutical manufacturers to channel their surplus inventory directly to hospital pharmacies.Since that time, over 300,000 units of medication have been successfully matched and connected to hospital pharmacies with immediate patient needs, at reduced costs, mitigating obsolete inventory and pharmaceutical waste.Pharmaceutical manufacturers have the responsibility of providing sufficient supply of vital medications for patients in need to all health care systems and facilities throughout the nation.The online marketplace applies purchase history data to display customized analytics – matching current listings with each pharmacy’s most utilized drugs, calculating potential savings, targeted email alerts and reporting on actual cost reductions.The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016.