Recent KLAS Research Points to CostCheck™ as a Market Leader in Pharmacy Purchasing Optimization
Leading software solution assists hospitals and health systems with intelligent purchasing decisions by providing real-time market insights
Alexandria, VA (Buisness Wire) – BluesightⓇ, The Medication Intelligence™ Company’s product CostCheck was recently reviewed by KLAS in a second look report. As cost containment remains a significant issue for hospital pharmacies throughout the country, CostCheck combats this growing problem by modernizing the drug purchasing experience and providing transparency, ensuring hospitals obtain the best prices for the drugs they need.
“We are thrilled to have CostCheck’s effectiveness recognized through overwhelmingly positive feedback from our client partners,” said Kevin MacDonald, CEO and co-founder of Bluesight. “As a result of drug costs increasing at an astonishing rate, it’s more important than ever for hospitals and health systems to have accurate, timely insights into the medication supply chain. We are delighted to see our users believe CostCheck has long-term viability in the market.”
KLAS initially evaluated the product in May 2021, when it was still known as Bluesight Insights and had six unique customers to provide feedback. CostCheck has expanded the product to 44 fully live facilities at 15 unique organizations and implemented several upgrades, including improved reporting and prioritized recommendations. This report provides a second look at how the CostCheck customer experience is progressing through the solution’s growth and changes. The new report reaffirms the solution’s market leadership based on adoption and asserts its high-ranking customer satisfaction, specifically with cost savings. 100% of CostCheck customers observed positive outcomes within 6 months, with over 50% of them stating they saw desired outcomes immediately after adoption. Moreover, CostCheck received an A+ rating (the highest possible rating) for “Executive Involvement.”
For this supplemental report, 15 CostCheck users from 12 unique organizations were interviewed about their experience with the product, a larger sample size than two similar vendors recently evaluated with an average of just five users interviewed each. The responses emphasized CostCheck’s industry-leading characteristics, particularly related to ease of use.
One manager illuminated the solution’s user-friendliness and capacity to maximize operational efficiency. “Their platform is user-friendly and easy to use. Prior to using the platform, I was doing the work manually. That work was honestly very time-consuming. I like the product’s reporting features and the ability I have to break things down for our C-suite and administration team.”
In 2022 alone, Costcheck saved its customers over $20 million dollars. Beyond just cost savings driven through NDC optimization, they see additional long-term advantages, including the product monitoring contracts and overcharged invoices. CostCheck’s indispensableness was also reflected in provider feedback.
Another manager highlighted CostCheck’s unparalleled ability to identify and produce cost savings. “We use CostCheck to drill down into our purchasing data and identify opportunities for cost savings. The product is good at identifying things that would be cheaper so we can generate some cost savings. The solution has been working out pretty well for us and gives us more insight into our data.”
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.