Pharmaceutical industry software company Kit Check has rolled out Bluesight Insights, which harnesses technology for supply chain management. The tool assists health systems and medical centers with handling and stocking their pharmacy supply by offering live analysis into GPO compliance, medication pricing and 340B optimization, according to a Monday (Dec. 7) announcement.
These organizations “manage strict budgets and ensure they have the appropriate medications available for their patient population, all while trying to navigate the complex pharmaceutical supply chain,” Kit Check CEO and Co-founder Kevin MacDonald said in an announcement. “Bluesight Insights is poised to make this process markedly easier, helping organizations save on their drug spend while offering transparency and visibility into drug prices.”
The product is constantly revised with wholesalers’ data on important buying points such as presentation choices, medication pricing and more economical options, according to the company. As a result, the technology enables “evidence-based purchasing” that lets health systems and medical centers make the most of their financial resources while keeping their stock effectively balanced, the statement noted.
Kit Check says the pandemic has placed a further burden on medical centers in terms of handling financial allotments and pharmaceutical inventory, noting that there will likely still be a heightened volume of “high-acuity” patients who need costly pharmaceuticals.
According to the company, more than 500 American and Canadian medical center partners have monitored in excess of 120 million pharmaceuticals via Kit Check’s RFID offering to date. It also notes that over 100 medical centers utilize Bluesight® for Controlled Substances technology.
The coronavirus continues to cause disruption in the hospital vertical. One challenge is that medical centers have been bringing in less revenue, as non-urgent procedures have been called off amid COVID-19 surges. The result is a squeeze on their budgets, even as medical centers are implementing further measures to protect workers and patients.