MedTech Breakthrough Recognizes Bluesight’s CostCheck as a Standout Digital Health & Medical Technology Product
ALEXANDRIA, Va., – May 10, 2023 – BluesightⓇ, The Medication Intelligence™ Company announced today that its drug purchasing optimization solution CostCheck has been selected as “Best New Technology Solution for Medication Management” in the 7th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, independent market intelligence organization that recognizes the top companies, technologies, and products in the global health and medical technology market.
The company’s CostCheck solution was acknowledged specifically for its shortages module which integrates shortage signals from the market, FDA, and ASHP, with supply chain data to help facilities prioritize and respond to relevant shortages. The module optimizes medication spending, automatically prioritizes drug shortages, and includes workflow and communication tools to increase efficiency and incorporate analytics into established shortage response efforts.
“We are honored to receive this award from MedTech Breakthrough that represents our dedication to providing cutting-edge software solutions that address key issues in the hospital pharmacy,” said Kevin MacDonald, Bluesight CEO and co-founder. “We know that hospitals are constantly faced with rising drug costs and shortages, and I’m thrilled that CostCheck continues to be recognized as the industry-leading drug purchasing optimization software.”
The mission of the MedTech Breakthrough Awards is to honor excellence and recognize innovation, hard work and success in a range of health and medical technology categories. This year’s program attracted more than 4,000 nominations from over 17 different countries throughout the world and honored companies like Sony, Philips, GE Healthcare, IQUVIA, and more alongside Bluesight.
“Many hospital pharmacists report that drug shortages are the number one issue currently facing their organization and the recent increase in these shortages has added time and complexity to managing hospital pharmacies requiring pharmacy buyers to manage siloed data streams – preventing them from easily seeing a complete picture of a hospital’s procurement landscape,” said James Johnson, managing director, MedTech Breakthrough. “CostCheck from Bluesight modernizes the drug purchasing experience and provides transparency to all available options to ensure hospitals obtain the best prices and are fully stocked with the drugs they need.”
CostCheck optimizes the buying experience to offer blended price analysis in real-time. The solution also provides actionable analytics to verify invoice charges, allowing users to identify and reclaim overcharged dollars. It also enables systematic cost savings and helps users optimize their drug-purchasing workflow.
Other features and benefits include: Real-Time Recommended Changes, 340B Ratio Optimization, GPO Compliance Monitoring, Price Increase Monitoring, Spend Monitoring, and
Illustration of types of medication all in a Centralized Dashboard.
Bluesight solves supply chain inefficiencies and reduces risk by providing actionable analytics for every step of the medication lifecycle. Through our suite of Medication Intelligence™ solutions, Bluesight brings simplicity, visibility, and predictability to the complex world of medication management. To date, more than 1,000 U.S. and Canadian hospitals utilize Bluesight solutions to optimize their hospital’s efficiency. Bluesight focuses on providing comprehensive, item-level data that empowers providers to make informed, accurate decisions. These solutions include RFID-enabled inventory management, controlled substance diversion prevention software and medication purchasing optimization. To learn more about Bluesight’s suite of Medication Intelligence solutions, visit us at bluesight.com.
About MedTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is devoted to honoring excellence and innovation in medical & health technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough healthcare and medical companies and products in categories that include Patient Experience & Engagement, Health & Fitness, Medical Devices, Clinical Administration, Connected Healthcare, Medical Data, Healthcare Cybersecurity and more. For more information visit MedTechBreakthrough.com.