Navigation Links
PHACTS Receives $22.4 Million in New Business Commitments
Date:12/4/2009

PHACTS, LLC, a leader in Pharmacy Inventory Management Systems, signed exclusive agreements in 2009 with USA IDN Health Systems and hospitals valued at $22.4 million in new business. PHACTS expects this number to grow to over $30 million by the end of 2009.

Seattle, WA (PRWEB) December 4, 2009 -- PHACTS, LLC, a leader in Pharmacy Inventory Management Systems, signed exclusive agreements in 2009 with USA IDN Health Systems and hospitals valued at $22.4 million in new business. PHACTS expects this number to grow to over $30 million by the end of 2009.

PHACTS offers the only Enterprise-Wide Inventory Management Solution for Hospital Pharmacies that networks all commonly owned pharmacies together to drive out inventory waste and overstocking, and improve accuracy, safety, and efficiency through the IDN Health System distribution process.

“We are delighted to be the first to offer an Enterprise-Wide solution that allows IDN Health Systems to realize efficiencies across their multi-location Pharmacy Distribution Network.” said Thomas McCarthy, PHACTS Executive Vice President & Co-founder. “The PHACTS team has been involved in the Drug Distribution and Pharmacy Automation industries for over 35 years and we have used our experience and state of the art technology to create a considerable improvement for the Hospital Pharmacy Industry. We’re pleased that our Customers agree that we have something valuable to offer them by awarding us a significant amount of new business.”

“Recent industry surveys indicate that over 66% of Hospital Administrators are requiring their Pharmacy Directors to reduce drug budgets within their hospitals,” said May McCarthy, PHACTS President & CEO. “PHACTS helps to reduce inventory on hand by an average of 35% and drive out 3% to 4% of wasted and expired medications in all networked hospitals with the use of the Pharmogistics® Inventory Management System.”

In addition to reducing drug budgets, most hospitals are also working towards the use of Barcode Point of Care (BPOC), or scanning at the bed-side, to ensure that the right patient receives the right medication. BPOC is a high priority to meet Federal Regulatory Standards, and PHACTS offers packaging and labeling solutions to ensure that all medications delivered to the patients have readable barcodes on them to enable BPOC and increase patient safety.

PHACTS team members are the leading experts in the Pharmacy Automation Industry. Over the past 18 years, they’ve installed over 1300 automated carousels and over 300 high-speed barcode medication packagers with inventory management software in hospital pharmacies across the USA. PHACTS provides new carousels with their software or can simply convert currently installed carousels in Hospital Pharmacies to be operated by PHACTS.

PHACTS, LLC was founded in 2007 by Thomas and May McCarthy, a brother and sister team, who have been in the Hospital Pharmacy Industry since 1982. PHACTS provides workflow process improvements and enterprise-wide inventory management solutions to drive out waste, reduce inventory on hand, and improve accuracy within IDN and Hospital systems.

To learn more about PHACTS® and our Pharmogistics® and PharmoPack™ products, please visit our website www.phacts.net and see us in booth #2515 at the American Society of Health-System Pharmacists meeting in Las Vegas, December 7 – 9, 2009.

###

Read the full story at http://www.prweb.com/releases/2009/12/prweb3290264.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved  

Related medicine news :

1. Childrens Hospitals and Clinics of Minnesota Receives National Recognition for Quality and Efficiency
2. The WFH receives the largest humanitarian aid donation in its history - Donation represents more than 40 million international units to the WFH
3. Watson Receives FTC Clearance for Arrow Acquisition
4. The Forsyth Institute receives the William J. Gies Award for outstanding achievement
5. Masimo Receives FDA Clearance for Masimo Rainbow SET(R) Acoustic Respiration Rate Monitoring
6. Targeted Testing Receives Favorable Reviews On PADDS, Begins Nationwide Research Study On The Target Tests of Executive Functioning-OV
7. EMD Serono Receives Refuse to File Letter from FDA on Cladribine Tablets New Drug Application
8. Marianjoy Medical Group Physician Receives James Brady Award
9. Centene Corporation Receives Notification of Intent to Contract From the State of Mississippi
10. US Farms, Inc. Receives American Vegetarian Association Certification Approval for Aloe365(TM) Juice Product
11. Sundia MediTech Receives Red Herring Asia Top 100 Award
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
PHACTS Receives $22.4 Million in New Business Commitments
(Date:10/13/2017)... ... ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out many kids ... sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting kids excited ... all ages; it is a non-competitive, non-timed event, which is all about having fun ...
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, a leader in ... awarded a contract by the Center for Medicare and Medicaid Services (CMS). The ... enterprise use of Agile methodologies in a consistent and high value manner across ...
(Date:10/12/2017)... ... 2017 , ... First Healthcare Compliance (FHC), an industry leader ... range of technology and learning solutions at the 68th Annual American Healthcare Association ... held October 14–18, 2017 at the Mandalay Bay Resort in Las Vegas, Nevada. ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... to meet the demand of today’s consumer and regulatory authorities worldwide. From Children’s ... experts and tested to meet the highest standard. , These products are ...
(Date:10/12/2017)... ... 2017 , ... Asante, a nationally recognized health system in ... existing home health joint venture through an agreement, effective October 1, 2017, to ... home health company with Asante, delivering clinically integrated care, for the past eight ...
Breaking Medicine News(10 mins):
(Date:9/25/2017)... PROVIDENCE, R.I. , Sept. 25, 2017 /PRNewswire/ ... immunogenicity assessment, vaccine design, and immune-engineering today announced ... focused on the development of personalized therapeutic cancer ... and has provided exclusive access to enabling technologies ... MSc Eng., MBA will lead EpiVax Oncology as ...
(Date:9/22/2017)... 22, 2017 AVACEN Medical (AVACEN) announced that ... successfully helping those with the widespread pain associated with ... Amanda in Essex, England commented, ... hair, experiencing no sleep at all, tremendous pain, with ... cannot recommend [the AVACEN 100] enough, how this has ...
(Date:9/18/2017)... , Pa. and KALAMAZOO, Mich. , Sept. ... Penn. , and OptiMed Specialty Pharmacy of ... partnership to offer a strategic hub service that expedites ... highly sought-after personal spirometer, Spiro PD 2.0, and wellness ... A spirometer is a medical device used to measure ...
Breaking Medicine Technology: