IDN Health Systems implements PHACTS' Enterprise-Wide Inventory Management Solution

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.