Sutter Health Collaborates with Qventus to Drive Down Pharmaceutical Costs
September 1, 2017,
AI-based Platform to Improve Patient Experience, Enhance Pharmacy Operations
MOUNTAIN VIEW, Calif.— Sept. 1, 2017 – The not-for-profit Sutter Health network announced today that it will collaborate with Qventus to use the company's artificial intelligence (AI) platform to enhance inpatient pharmacy operations across its healthcare system. The real-time platform will help Sutter Health reduce inpatient drug spending and support clinical teams by improving the effectiveness of pharmacy workflows and quality practices.
"Leveraging AI and analytics will help us deliver safer, more affordable care for our patients," said Sameer Badlani, MD, FACP, vice president and chief health information officer for Sutter Health. "We've built a reputation for transforming healthcare, always thinking ahead, learning and innovating. This collaboration is another next step to help those we serve achieve their best health."
Pharmacy operations is a growing opportunity for hospitals. More than 90 percent of hospital leaders report that price hikes for inpatient drugs have had a moderate or severe effect on managing overall costs. Additionally, hospital pharmacists understand the need to balance personalized service with increasing patient volumes. Clinicians have the added challenge of managing and monitoring lots of pharmaceutical usage data across disparate systems.
The Qventus platform brings together hospital, patient and pharmacy data in real-time to determine immediate opportunities where a pharmacist-led intervention may be needed to ensure that patients receive the most appropriate medications for their treatment. The system identifies patients who may require additional attention and nudges the physician, clinical team and pharmacist to take needed actions. It also directs pharmacists to prioritize the neediest patients for consultation and drug education at discharge to improve patient understanding of their medication regimen, reduce errors and increase compliance.
"Applying Qventus' artificial intelligence to our pharmaceutical operations allows us to identify areas of improvement while keeping the focus on those in our care," said Ryan Stice, PharmD, executive director of Pharmacy at Sutter Health. "This platform can help our care teams have more meaningful conversations with our patients—helping explain care plans in ways they understand and ensure they feel supported."
"We are inspired by Sutter's drive to innovate new ways of tackling inefficiencies in today's complex healthcare system," said Mudit Garg, CEO of Qventus. "By applying AI to pharmaceutical operations, we'll be able to help hospitals make better decisions for their patients. Ultimately, this doesn't just result in financial benefits, but will create a profound impact on patient care."
Initially, the platform will launch at four strategically chosen hospital sites within the health system's network, then quickly roll out to 26 additional sites.
About Qventus
Qventus' mission is to simplify how healthcare operates so that hospitals and caregivers can focus on providing the best possible care to patients. The company offers an AI-based software platform that helps hospital teams make better operational decisions in real-time, with positive impacts to financial performance and patient experience. Qventus addresses operational challenges across the hospital including emergency departments, perioperative areas, patient safety, inpatient and outpatient. Located in Silicon Valley, Qventus is honored to be working with leading public, academic and community hospitals across the United States. The company was recognized by the 2016 Fierce Innovations Awards in Healthcare, winning for Best Financial/Operations Solutions and Best New Product. The company was also recognized by Healthcare Informatics as a 2017 Innovator Award winner, receiving the award for leading 'Cost Savings' technology.
For more information about Qventus, please visit www.qventus.com.
Sutter Health was named one of the nation's top five large health systems in 2016 thanks to its integrated network of physician, employee and volunteer pioneers—more than 60,000 people strong. Rooted in Sutter Health's not-for-profit mission, these team members partner to deliver exceptional care that feels personal. From physician offices to hospitals to outpatient care centers and home services, they proudly support and learn from the more than 3 million people in their care—nearly 1 percent of the U.S. population, in one of the most diverse and innovative regions in the world. Sutter pioneers adopt new technologies, make novel discoveries and embrace creative thinking to help patients and communities achieve their best health. From its street nurse program that provides check-ups for homeless people, to telemedicine-aided specialist consultations, to walk-in care clinics, to smart glass technology, the Sutter Health team goes beyond traditional models to make care more convenient and to nurture and empower people throughout their medical journey.
For more information about the Sutter Health network visit: sutterhealth.org | facebook.com/sutterhealth | youtube.com/sutterhealth | twitter.com/sutterhealth.
Catherine Afarian
Qventus
Cat@Qventus.com
Jessika Parry
Next Step Communications
qventus@nextstepcomms.com
Monique Binkley Smith
BinkleMT@sutterhealth.org