ProxsysRx Signs Contract To Build And Manage Specialty Pharmacy For Massachusetts’ Holyoke Medical Center
BIRMINGHAM, AL April 10, 2024 — Massachusetts’ Holyoke Medical Center (HMC), a 219- bed independent community hospital with more than 1600 employees, has contracted with Birmingham’s ProxsysRx to build and manage a specialty pharmacy on the hospital’s campus. HMC previously contracted with ProxsysRx to build, staff and own an onsite retail pharmacy — serving the hospital’s patients and employees — which opened in June, 2023.
ProxsysRx Launches Retail Pharmacy, Additional Services for Louisiana Health System
BIRMINGHAM, AL – November 14, 2023 – Birmingham’s ProxsysRx has opened its latest on-campus pharmacy for Terrebonne General Health System, a 321-bed non-profit public hospital with more than 200 physicians and 1,500 employees.
ProxsysRx Contracted For Retail Pharmacy, Additional Services With Massachusetts’ Holyoke Medical Center
BIRMINGHAM, AL August 8, 2023 — Massachusetts’ Holyoke Medical Center, a 198-bed independent community hospital with over 1,300 employees, has contracted with ProxsysRx for several of the hospital’s on-campus pharmacy services — starting with the construction and staffing of a retail pharmacy serving HMC’s patients and employees.
ProxsysRx Signs Contract To Provide Retail and Specialty Pharmacy Services For Tallahassee Memorial HealthCare
Birmingham, AL – July 20, 2023 — Birmingham’s ProxsysRx has contracted with Tallahassee Memorial HealthCare (TMH) to own-and-operate a retail pharmacy, and build-and-operate a specialty pharmacy on the hospital’s property.
For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx To Manage Multiple Pharmacy Services For UAB Medical West
BIRMINGHAM, AL March 2, 2022 — UAB Medical West has contracted with Birmingham’s ProxsysRx to manage several of the hospital’s on-campus pharmacy services.
Among the key benefits ProxsysRx will bring to the hospital, its patients and its employees — through Medical West’s retail pharmacy operations — are:
- Lower Cost Of Goods, through the buying power ProxsysRx enjoys by virtue of owning and/or managing 20 hospitals’ retail pharmacies.
- Expanding UAB Medical West’s “Meds To Beds” bedside prescription delivery service.
- Leveraging UAB Medical West’s in-house technology to serve its patients and employees’ prescription needs.
“We’re thrilled and honored to be serving UAB’s Health System,” said ProxsysRx Founder & CEO George Salem, “and we look forward to bringing UAB Medical West the kind of cost and service efficiencies that will enable the hospital to, ultimately, better pursue its mission of patient care and satisfaction.”
ProxsysRx has already deployed the resources necessary to dramatically expand UAB Medical West’s Meds To Beds program — one of the most labor-intensive patient-care services, and one which few hospital systems can affordably manage. “The simple truth is, non-profit health systems like UAB can’t afford the personnel needed for a comprehensive bedside delivery prescription service. With the staffing investment we’ve made on our end, we were able — on our first day — to deliver more bedside prescriptions than hospitals like Medical West can typically deliver in a week.”
Regarding UAB Medical West’s in-house technology, ProxsysRx Vice President of Growth Howard Hall notes, “We’re bringing-in the processes we’ve developed to enhance all the services we’ll be managing. For instance, employees will be able to fill prescriptions online — or using our phone tree — enabling them to simply pick them up quickly at their convenience. Or, if they prefer, we can ship prescriptions directly to their home addresses. We’ll also make those service conveniences to UAB Med West’s patients.”
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from comprehensive 340B prescription-program management (including proven process for overcoming manufacturer restrictions) and retail pharmacy operations to PBM program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
Rx Care Management by ProxsysRx Transition of Care Technology Helps Prevent Hospital Medication Errors
Birmingham, AL - August 27, 2015 – ProxsysRx, the nation’s largest Integrated Outpatient Pharmacy Provider (IOPPTM) is expanding its population health management services with the launch of a medication-focused transition of care program for hospitals and health systems. The program, named “RxCare Management,” provides hospitals with technology systems and pharmacy support services to improve hospital performance measures that have been mandated by Center for Medicare and Medicaid Services (CMS) such as reducing readmission rates and improving patient experience scores. The program also improves clinical outcomes, reduces adverse drug events, and reduces hospital expenses related to conducting medication reconciliation.
Transition of care efforts are important in managing a patient’s movement from one care setting to another, such as a patient being discharged from a hospital to the care of their physician. Research indicates that many patients experience medication errors at admission to a hospital and that those errors are often related to gaps in information in the patient’s medication history. It is also shown that focusing on pharmacy activities at discharge improves patient outcomes and makes for a smoother recovery.
“We are improving the health status of patients as they move through the system by providing caregivers with accurate and timely patient medication history while providing patients with convenient access to their prescription medications and counseling,” said George B. Salem, CEO of ProxsysRx. Salem points out that the RxCare Management program also saves hospitals money by reducing operation expenses and consolidating medication reconciliation with other care transition efforts.
The RX Care Management program seamlessly integrates with a hospital’s existing care transition and discharge systems. The program delivers a robust medication reconciliation technology that integrates with the hospital’s medical records system. The technology streamlines the difficult and costly process of creating an accurate and complete list of medications, produces all discharge medication documentation, identifies high-risk patients for medication non-adherence, and provides information for clinicians use in follow up visit. ProxsysRx pharmacists and staff then engage with patients to provide prescription access, medication counseling, and delivery.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx Adds Turnkey 340B Plan Management to its Array of Services
Birmingham, AL - August 13, 2015 –ProxsysRx, the nation’s largest Integrated Outpatient Pharmacy Provider (IOPPTM), now provides an end-to-end solution to hospitals to help them comply with all aspects of the 340B program. Under the federally mandated 340B program, drug makers must provide eligible organizations with certain prescription drugs at significantly reduced prices. These organizations then contract with outpatient pharmacies to dispense the drugs to eligible patients who meet the program’s criteria. The 340B Program enables covered entities to make the most of scarce Federal resources in order to provide patients with access to more comprehensive services.
“Hospitals are able to dramatically reduce their 340B costs and enhance proper utilization by implementing ProxsysRx solutions. They are also partnering with a seasoned team of professionals who have decades of experience navigating the intricacies of the regulatory system,” said ProxsysRx CEO George B. Salem. Transparency and compliance are key benefits of the ProxsysRx 340B program. The ProxsysRx model allows the health care facility to better manage 340B operations by reducing the uncertainties related to program participation, cost and pricing that are inherent in similar programs. RxPreferred Benefits provides ProxsysRx with management support.
ProxsysRx provides hospitals with robust software tools and pharmacy integration programs to enhance their 340B program status and performance. When a hospital or health care system implements the ProxsysRx 340B solution, they tap into the program’s real time management tools for enrollment, eligibility and crucial reporting that will support the requirements of an audit. Other features include inventory management, invoicing and automated drug replenishment.
ProxsysRx has secured 340B agreements with multiple health care systems as part of their comprehensive pharmacy services package.
About RxPreferred Benefits
RxPreferred Benefits (www.rxpreferred.com) is a privately held pharmacy benefit manager founded and solely owned by independent pharmacy representatives. RxPreferred offers a full line of pharmacy benefit management solutions for employer groups, municipalities, school districts and third party administrators focused on guaranteed savings and cost-containment strategies. Its SurgicalMeds division (www.surgicalmeds.com) is a provider of preferred access and pricing to critical medications that are in short supply for ambulatory surgical centers, surgical hospitals and healthcare facilities nationwide.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx, LLC announces technology partnership with Catavolt, Inc. to benefit patients and health care providers
Birmingham, AL – May 19, 2015 – ProxsysRx, LLC has partnered with world-class mobile technology developer Catavolt, Inc. to help hospitals integrate outpatient pharmacy into the continuum of care, benefiting patients and health care providers by developing a bedside discharge delivery application that resides on a handheld tablet. ProxsysRx provides hospitals with integrated on-site outpatient pharmacies which reduce readmissions, improve patient satisfaction and positively impact reimbursement rates for hospitals and health systems. Catavolt, Inc. is a leading provider of enterprise application mobility solutions.
ProxsysRx provides hospitals and health care systems with an immediate financial benefit by acquiring, capitalizing and /or building outpatient pharmacies and assuming all operating and management costs. Patients can have their prescription drug prescriptions filled bedside without having to visit a pharmacy on their way home, and they can interact directly with the pharmacist via mobile device from their bedside.
“The design of the patient interface is critical to success; our partnership with Catavolt enabled us to create a platform that’s efficient and easy to use. By deploying this new technology bedside, we have the opportunity to improve patient health by simplifying the discharge process for both the patient and the hospital. The results are healthier patients, better population health management, lower readmission rates because of better adherence to their doctor prescribed drug regimen, greater patient satisfaction and in turn, better reimbursement rates for the hospital,” said Marc Calhoun, ProxsysRx Chief Strategy Officer, Enterprise Solutions.
Security of sensitive healthcare data is a priority, and Calhoun cited Catavolt’s expertise in customizing proprietary security protocols as a key attribute in selecting Catavolt as technology partner. Catavolt is recognized for providing unique, patented security architecture that provides superior risk mitigation when compared to competing mobile application development, deployment and management approaches.
“ProxsysRx charged us with keeping patient data readily accessible in real-time, while ensuring it is secure and protected and not exposed to the Internet. Meeting that challenge helps us enable ProxsysRx to deliver exceptional patient care,” said Catavolt, Inc. Chief Executive Officer George Mashini. The Catavolt technology will be deployed throughout the ProxsysRx Integrated Outpatient Pharmacy Provider network.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
About Catavolt, Inc.
Catavolt’s enterprise application mobility platform helps organizations deliver real-time data to employees using mobile apps that drive operational excellence. Catavolt helps companies quickly create apps that are fast and personalized for users, secure and manageable for IT, and create meaningful outcomes for the business in 60 days or less at a fraction of the cost of traditional development approaches. For more information, visit www.catavolt.com.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx Launches Pharmacy Benefit Management Services to Save Employers 5 to 20 Percent on Prescription Drug Benefits
Unique PBM model integrates transparency and value
Birmingham, AL – April 22, 2015 – ProxsysRx, the nation’s largest Integrated Outpatient Pharmacy Provider, has launched a Pharmacy Benefit Management service (PBM) to serve hospitals, health care systems and other major employers. The program can typically reduce an employer’s prescription drug benefit expense by 5 to 20 percent. In addition, the employer gains access to all available drug rebates.
Service, quality, value and convenience are cornerstones of the ProxsysRx PBM program. Beneficiaries have the convenience of engaging with a pharmacist in person, on line, or by telephone. Prescriptions may be filled at a ProxsysRx pharmacy on health care campuses, via home delivery, or at more than 65,000 pharmacies nationwide. The program also reduces prescription drug expenses for employers and employees.
“An unprecedented benefit we provide employers is full disclosure of all associated costs and real time plan management,” said ProxsysRx CEO George Salem. “Transparency is key in delivering value and keeping down drug costs, and transparency is unique to our model. The ProxsysRx PBM service allows health care systems to reap benefits that until now were reserved for third party providers. By bringing the program into the health system through partnership with RxPreferred Benefits, employers and patients benefit,” said Salem.
“We are proud to partner with ProxsysRx. We believe their ability to reach a significant number of hospitals provides an outstanding opportunity to deliver transparent PBM and 340b solutions. ProxsysRx customers will value both organizations’ ability to drive new revenue and cost savings,” said RxPreferred Benefits CEO Jeff Malone.
The ProxsysRx PBM program delivers a full array of services including: benefit plan design, pharmacy claims processing, customized formulary management, transparent rebate administration, member and provider helpdesk, drug utilization review, and cost containment and reporting services. Hospitals also have the option of extending the program to businesses in their service area as part of their community outreach.
ProxsysRx unveils the PBM at a time when employers are facing growing financial pressures in providing health care benefits because of changes and cost increases associated with the Affordable Care Act. According to data compiled in the 2015 Segal Health Plan Cost Trend Survey, the rate of annual premium increases for prescription drug plans is projected to increase significantly in 2015, while the forecast predicts health benefit plan costs will decrease slightly over the same period. The ProxsysRx PBM service provides hospitals and health care systems with a rare opportunity to significantly reduce the cost of their PBM programs.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
About RxPreferred Benefits
RxPreferred Benefits (www.rxpreferred.com) is a privately held pharmacy benefit manager founded, and solely owned, by independent pharmacy representatives. RxPreferred offers a full line of pharmacy benefit management solutions for employer groups, municipalities, school districts and third party administrators focused on guaranteed savings and cost-containment strategies. Its SurgicalMeds division (www.surgicalmeds.com) is a provider of preferred access and pricing to critical medications that are in short supply for ambulatory surgical centers, surgical hospitals and healthcare facilities nationwide.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx Leaders to Meet with Mississippi Healthcare Executives
Patient satisfaction, cost savings and Meaningful Use will top the agenda
Birmingham, AL – January 27, 2015 – Hospital administrators from across Mississippi will meet with senior executives of ProxsysRx, the nation’s leading Integrated Outpatient Pharmacy Provider, IOPP ™, at the Winter 2015 Meeting of Mississippi Healthcare Executives February 5 and 6 in Madison, Mississippi. The meeting focuses on health management in the health reform era. ProxsysRx joins the MHE Winter Meeting as an invited sponsor as the company expands its Mississippi operations through its partnership with MHA Solutions, Inc., a division of The Mississippi Hospital Association.
“The ProxsysRx partnership with members of the Mississippi Hospital Association marks a positive turning point as MHA hospitals gain a new option to help them achieve long-term cost savings,” said ProxsysRx founder and CEO George Salem. “We are excited to meet with these healthcare industry leaders who are among the first to deploy these new technologies that benefit patients and hospitals by reducing readmissions, improving patient satisfaction and improving other key health system strategic indicators that impact reimbursements and margins, ” said Salem.
ProxsysRx provides hospitals and health care systems with an immediate financial benefit by capitalizing their outpatient pharmacies and assuming all pharmacy operating and management costs. The strategic partnership provides members of MHA with a negotiated range of benefits designed to accelerate Meaningful Use compliance and save hospitals money while supporting quality of care initiatives as part of a Discharge Prescription Delivery Program (DRxD™) administered by ProxsysRx. The DRxD™ program deploys a digital app to provide the patient with personal bedside counseling and disciplined follow-up from the ProxsysRx pharmacist to drive medication adherence and compliance.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
MHA Solutions partners with ProxsysRx to create revenue-enhancing solutions for Mississippi hospitals while offering patients new options
MADISON, Miss., Dec. 16, 2014 – MHA Solutions, Inc., a division of The Mississippi Hospital Association, has established a Partnership with ProxsysRx that provides Mississippi hospitals with new ways to achieve long-term cost savings by reducing readmissions and improving other key health system strategic indicators that impact reimbursements and margins. The formula producing the benefits is unique to the ProxsysRx model; it integrates outpatient pharmacy into the hospital continuum of care while improving the health status of the community as a whole.
ProxsysRx provides hospitals and health care systems with an immediate financial benefit by capitalizing their outpatient pharmacies and assuming all pharmacy operating and management costs. The strategic partnership provides members of MHA with a negotiated range of benefits designed to accelerate Meaningful Use compliance and save hospitals money while supporting quality of care initiatives as part of a Discharge Prescription Delivery Program (DRxD) administered by ProxsysRx. The DRxD program deploys a digital app to provide the patient with personal bedside counseling and disciplined follow-up from the ProxsysRx pharmacist to drive medication adherence and compliance. The ProxsysRx approach provides health care systems with long-term cost savings by reducing readmissions, improving patient satisfaction and establishing other systems to increase Medicare and Medicaid reimbursements.
“We have worked hard to forge this partnership which saves our hospitals money through value based purchasing and other negotiated benefits, and streamlines their ability to comply with an entire category of government mandates in a cost-effective way. It provides our facilities and patients with new technologies that improve the care experience and lead to better outcomes,” said MHA Solutions, Inc. President and Chief Executive Officer Edward Foster. Foster points out that the benefits of the ProxsysRx partnership to MHA member hospitals are expected to increase in coming years as commercial payers continue to adjust their reimbursement schedules.
“We are thrilled to pursue this trusted, vetted partnership with MHA Solutions and to share the value ProxsysRx will deliver for hospitals across the state. We believe the Mississippi model initiates a trend; hospital associations will strategically leverage their members’ clout to secure critical savings, drive adherence and achieve other measurable benefits that net financial gains while improving the health status of the community,” said ProxsysRx Chairman and Chief Executive Officer George Salem.
MHA Solutions, Inc. began vetting the ProxsysRx program after Rush Health Systems reported positive results. Rush, a large healthcare system in Mississippi was the first in the state, and one of the first in the nation to engage the ProxsysRx model. “The ProxsysRx Pharmacy Integration program has yielded impressive results, both in terms of cost savings and patient satisfaction,” said Chuck A. Reece, President of Rush Foundation Hospital and Executive Vice President and Chief Operating Officer of Rush Health Systems. Reece said he envisions ProxsysRx playing a fundamental role in helping hospitals statewide save money while navigating the challenging regulatory landscape.
About MHA Solutions, Inc.
MHA Solutions brings proven and practical industry solutions together in one place so MHA member hospitals and valued clients can benefit from shared systems, ideas and resources. MHA Solutions is a division of the Mississippi Hospital Association and is member-owned and member-governed. As a key strategic partner for MHA member hospitals and other healthcare providers, they truly understand the unique challenges facing healthcare in Mississippi.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
ProxsysRx Deploys Pharmacy Based Technology To Help Hospitals Meet The Meaningful Use Challenge
Pioneering Program Tackles High Stakes Electronic Health Records Incentives
Birmingham, AL – October 1, 2014 – ProxsysRx has deployed proprietary cloud-based technology that enhances the patient experience for its health system partners while supporting up to seventy percent of hospitals’ efforts in their Meaningful Use-Stage 2 endeavors. The technology enables the ProxsysRx pharmacist to provide the patient with face -to -face counseling bedside, via digital app. The education drives compliance and adherence, leading to better outcomes.
In the heavily regulated hospital industry, the term Meaningful Use is associated with high stakes regulatory and patient care issues. ProxsysRx is an Integrated Outpatient Pharmacy Provider (IOPP) that helps hospitals and health care systems navigate complex financial and regulatory pressures brought about by sweeping changes in health care policy.
“Our approach places the quality of patient care first. The ProxsysRx pharmacist enhances the patient’s experience while providing the hospital with new engagement opportunities that are essential aspects of the continuum of care as defined by Meaningful Use- Stage 2 guidelines,” said ProxsysRx CEO George Salem.
“We provide hospitals with solutions focused on quality of patient care. The outpatient pharmacy becomes an integral resource for the hospital; our approach is innovation driven and technology supported.” Salem points out that the ProxsysRx pharmacist, as a member of the hospital’s patient care team, plays a key role in helping the hospital meet some of the most challenging aspects of Stage 2 of Meaningful Use.
The ProxsysRx App facilitates the Discharge Rx Delivery “DRxD” program which delivers prescribed discharge medications and drug information to a patient’s bedside at time of discharge. The primary goals of the DRxD Program are to positively impact key measures such as the patient experience and readmission rates. The program can also support the needs of high risk or chronic disease management programs. The program is facilitated by proprietary, cloud based mobile technology, which collects patient experience data, Meaningful Use data, and activity metrics. It also speeds informational flows, education, and the delivery of the medication to prospective patients.
The Electronic Health Record Incentive program, known as “EHR” provides financial incentives for the Meaningful Use of certified EHR technology to improve patient care. To receive an EHR incentive payment, providers must demonstrate they are meaningfully using their electronic health records to meet thresholds for a number of objectives in at least sixteen categories. Hospitals are scrambling to identify technologies and processes to help them attest to Meaningful Use-Stage 2 if they are to receive Medicare incentives and avoid stiff financial penalties.
The ProxsysRx technology is the first of its kind to integrate outpatient pharmacy services along with other important patient engagements along the continuum of care within the hospital or clinical environment. With hospitals facing the threat of financial penalties in the form of Medicare or Medicaid reimbursement adjustments in 2015, the timing factor accelerates the urgency of the compliance issue. The new ProxsysRx application allows for dynamic processing and information gathering that benefits both the hospital and the patient at a time when patients are beginning to notice changes across the health care spectrum.
Meaningful Use policies stem from The Health Information Technology for Economic and Clinical Health (HITECH) Act, which promotes the adoption and meaningful use of health information technology. Goals are to standardize the way health care providers and hospitals use Electronic Health Records technology to deliver the same quality of care for every patient, to reduce the overall cost of care and to increase patient engagement.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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For Immediate Release
Contact:
Michael Jones
205-706-2586 | mtjones1105@gmail.com
MedWorksRx merges with ProxsysRx Integrated Outpatient Pharmacy Provider
Unique system improves patient care while reducing hospital costs and improving performance measures
Birmingham, AL – July 31, 2014 – MedWorksRx and ProxsysRx announce the merger of the two companies that will operate under the ProxsysRx name. ProxsysRx becomes the leading Integrated Outpatient Pharmacy Provider (IOPP) in the U.S. healthcare market. The company is focused on owning, managing and integrating outpatient pharmacies into the continuum of care for hospitals and health care systems.
ProxsysRx provides hospitals and health care systems with an immediate financial benefit by capitalizing their pharmacies and assuming all pharmacy operating and management costs. The ProxsysRx model strengthens patient care by improving outcomes, the patient experience and patient satisfaction by better integrating medication and proactive pharmacist engagement into the continuum of care. The ProxsysRx approach provides health care systems with long-term cost savings by reducing readmissions, improving HCAHPS scores and improving other key health system strategic indicators that impact reimbursements and margins.
“The integrated outpatient pharmacy model we have developed represents the single most profound advance the health system pharmacy industry has seen in more than fifty years. It’s truly a paradigm shift driven by market forces that include government mandates and billions of dollars in reimbursement dollars at stake,” said ProxsysRx CEO George B. Salem, who points out that hospitals and physicians are being held financially accountable for what happens to patients after they leave the hospital. Market factors are creating a greater need to manage prescription drug compliance and adherence. Non-compliance costs health systems and hospitals billions per year. The Affordable Care Act includes stiff penalties based on readmission rates and other measurables.
“ProxsysRx is a direct response to these market forces. We take ownership of the opportunity the pharmacist has to integrate the patient’s drug therapy into their transitional care and their home care, treatment and recovery. We provide hospitals and medical systems with turnkey processes that pivot the pharmacy approach to a fully integrated outpatient model. For hospitals, the stakes are higher than ever- their performance/reimbursement measures are directly impacted by outpatient pharmacy initiatives,” said Salem.
A discharge medication program provides a key example of how an integrated outpatient pharmacy initiative can serve the health system. According to a study published in the New England Journal of Medicine, nearly 20% of Medicare patients who had been discharged from a hospital were re-hospitalized within 30 days. Medicare is cracking down on readmissions by reducing reimbursements based on readmission rates, and readmission reporting is now mandatory, with penalties for readmissions increasing on an annual basis.
An estimated 11% of hospital readmissions are due to medication non-adherence at a cost of $100 billion annually. ProxsysRx targets this issue working closely with hospital Administration to implement a discharge medication program serviced by the ProxsysRx outpatient pharmacy. Under this program, pharmacy staff coordinates with hospital floor and discharge staff to provide patients the choice to receive their discharge medications at bedside before leaving the hospital. If the patient selects this option, payment is like any other pharmacy and the medications are delivered to the patient by pharmacy staff. The patient is then offered the option to receive an initial consult from the Pharmacist. As follow up, another pharmacist consultation is offered to the patient by phone within 72 hours of discharge. The patient care protocol includes a program of continuing pharmacist engagement throughout the course of the treatment whether the treatment is for a long term or chronic condition.
Given the fact that a contributing factor to 30-day readmissions is outpatient medication non-compliance and adherence, this program has shown a positive impact on readmission rates and patient satisfaction scores. In addition, the program contributes to the economic performance of the health system. A patient who leaves the hospital with his or her first round of prescriptions filled and in- hand, having had a consultation with a pharmacist, stands a much greater chance of maintaining that important drug regimen that can determine whether the patient recovers or suffers a relapse.
ProxsysRx integrates the outpatient pharmacy into the patient care system through integration at other patient care points as well, including coordination with home health care, supporting case management initiatives, facilitating an employee pharmacy, serving the patients of system- owned physician practices and more.
ProxsysRx founder George B. Salem also serves as Chairman of the company. Salem has managed, built and funded health care companies for more than thirty-five years. His most recent venture, Proxsys, sold to athenahealth (NASDAQ: ATHN) in 2011.
The ProxsysRx Board members bring a depth of health care industry expertise and corporate leadership to the governance of the company. Board members include Chairman George B. Salem, Co-Chairman G. Ruffner Page, Jr, Secretary -Treasurer Arlen Reynolds, George I. Lazenby IV, and B. Clayton McWhorter.
MedWorksRx was formed to manage integrated outpatient pharmacies for health systems and has successfully managed pharmacy operations for health system pharmacy facilities for more than four years. ProxsysRx was formed to own and manage integrated outpatient pharmacies for health systems and hospitals. The combined experience of MedWorksRx with the resources and expertise of the leadership team of ProxsysRx to work with health care systems, hospitals and physician practices nationwide to reduce costs, improve patient care and increase health system revenues and net contributions. ProxsysRx now owns or manages seven integrated outpatient pharmacies for health system partners in Alabama and Mississippi. Additional information is available at Proxsysrx.com.
About ProxsysRx
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their “340B” prescription-savings programs and retail pharmacy operations, to Prescription Benefits program management and patient financial assistance. ProxsysRx’s services are available both on an integrated-program basis — or in individual components — and are supported by the company’s proprietary software system, which places actionable data, and business intelligence, at clients’ fingertips, in real time.
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MEDIA CONTACT
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