12-06-2022, 02:28 AM
LogicStream Health and FDB Collaborate to Help Improve Management of Drug Shortages
LogicStream’s Drug Supply App™ now recommends therapeutic alternatives to minimize impact of drug supply disruptions
MINNEAPOLIS AND SOUTH SAN FRANCISCO, December 5, 2022 – LogicStream Health, a leading clinical intelligence software and data services firm, and FDB (First Databank, Inc.), the leading provider of drug knowledge that helps healthcare professionals make precise decisions, today announced a collaboration in which the FDB MedKnowledge® database is integrated into The Drug Supply App from LogicStream Health™ to help health systems efficiently prescribe optimal drug therapies during drug shortages and reduce delays in patient care and lower costs.
Drug shortages were common even before the well-known supply chain disruptions caused by the COVID-19 pandemic. Results of a 2019 survey of health systems showed that 100% of responding facilities were affected by drug shortages in the previous year, which was estimated to add 8.6 million staffing hours and a cost of $359 million at some 6,000 hospitals across the United States.
The Drug Supply App with FDB MedKnowledge will help health systems significantly reduce clinical and supply-chain staff time with evidence-based alternative drug therapy recommendations when an ordered drug is unavailable. The Drug Supply App eliminates delays in care by providing pharmacy staff with information needed to stock therapeutic alternatives ahead of potential drug shortages.
The Drug Supply App’s machine learning model identifies the impact of relevant drug shortages to health systems based on internal usage, as well as demand patterns from comparable organizations and third-party data. The app saves hours for care teams by delivering timely clinical insights to help maintain care plan integrity and promote optimal outcomes.
“Drug shortages that challenged health systems before the pandemic have significantly worsened recently,” said Patrick Yoder, PharmD, CEO of LogicStream Health. “FDB MedKnowledge embedded inside The Drug Supply App shortens the time to identifying effective drug therapies with trusted guidance about therapeutic alternatives. Clinicians are very familiar with FDB’s medication decision support, given widespread adoption of FDB MedKnowledge, and we look forward to working together and successfully bringing this powerful combination of software and drug data to our respective customer communities and prospects.”
FDB MedKnowledge is a comprehensive database that encompasses U.S. Food & Drug Administration (FDA)-approved prescription drugs, over-the-counter medications, and limited collections of disposable or reusable medication devices commonly dispensed by pharmacies. The database’s foundational building blocks, which include drug product nomenclature, drug descriptive elements, unique identifiers, and drug classification systems, facilitate interoperability with The Drug Supply App and with hospital IT systems. The foundational building blocks also help ensure drug data quality within The Drug Supply App.
“For more than four decades, hospitals and health systems have relied on FDB MedKnowledge to efficiently support their drug prescribing decisions and to help protect patients’ safety and health with reliable and relevant guidance,” said Bob Katter, president of FDB. “Our integration within LogicStream Health’s platform is a testament to the ability of FDB MedKnowledge to deliver that peace of mind and confidence, even in the face of potentially time-consuming, risky, and disruptive drug shortages. Our actionable drug information combined with LogicStream Health’s data and analytics tools facilitates cohesive, high-quality care delivery and can significantly help to reduce the financial impact of shortages no matter the drug or when the shortages occur.”
About LogicStream Health
LogicStream Health, based in Minneapolis, is trusted by a community of high-performing healthcare providers and partners to generate clinical insights from clinical data. The company’s cloud-based clinical data and intelligence platform gathers, normalizes, and connects clinical data. It houses years of experience in its automated processing, advanced analytics, and machine learning. This platform serves as an underpinning for the company’s software-as-a-service (SaaS) clinical insights, data services, and life science products. As a result, customers reduce cost, improve outcomes, improve the supply chain, and accelerate research and development. Customers are generating millions of dollars in ROI from clinical intelligence using LogicStream Health’s clinical data platform.
About FDB
FDB (First Databank, Inc.) creates and delivers the world’s most powerful drug knowledge that ignites, inspires, and illuminates critical medication decisions. We collaborate with our partners to help improve patient safety, operational efficiency, and health outcomes. Our drug databases drive healthcare information systems that serve the majority of hospitals, physician practices, pharmacies, payers, and all other areas of healthcare and are used by millions of clinicians, business associates, and patients every day. Please visit us at https://www.fdbhealth.com/, or follow us on Twitter, LinkedIn, and YouTube.
About Hearst Health
The mission of Hearst Health is to help guide the most important care moments by delivering vital information into the hands of everyone who touches a person’s health journey. Care guidance from Hearst Health reaches the majority of people in the U.S. The Hearst Health network includes FDB (First Databank), Zynx Health, MCG, Homecare Homebase, and MHK. Hearst also holds a minority interest in the precision medicine and oncology analytics company M2Gen. Follow Hearst Health on Twitter @HearstHealth or LinkedIn @Hearst-Health.
Contact:
Steve Canakes, EVP Sales/Marketing
LogicStream Health
M: 612.867.4581
Steve.canakes@logicstreamhealth.com