Bluesight, a hospital software provider, has partnered with GraphiteRx to integrate marketplace data, including the catalog of Mark Cuban Cost Plus Drugs, into its platforms for drug price checking, purchasing and shortage management.
The integration will enable hospital pharmacy teams to view Cost Plus Drugs pricing alongside traditional wholesaler options within their existing procurement workflows, according to a March 3 news release. The added visibility is intended to help hospitals reduce drug spend and manage shortages by expanding access to alternative medication suppliers, the company said.
According to Bluesight’s “Hospital Pharmacy Operations Report,” reducing drug spend is a top priority for 77% of hospital pharmacies and drug shortages are the most pressing operational challenge for 75% of pharmacy leaders. The company said customers using its price-checking and purchasing product, CostCheck, are have saved up to 4% on drug spend annually.
The collaboration is designed to bring greater pricing transparency and sourcing flexibility to hospital supply chains as margins tighten and shortages persist, Mark Cuban Cost Plus Drugs and GraphiteRx said. The two companies recently expanded their partnership to support the Cost Plus Marketplace for Businesses, which combines Cost Plus Drugs’ pricing model with GraphiteRx’s marketplace technology and includes tools to identify savings opportunities, measure financial impact and integrate pricing insights into clinical decision-making.
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