Agilence recently announced 20/20 Rx™, a new pharmacy analytics software designed to support the specific needs of pharmacies and retailers with pharmacy departments. With input from industry leaders including customers like Rite Aid, 20/20 Rx brings visibility and business insight to pharmacy operations. Built on the foundation of Agilence’s 20/20 Data Analytics™ platform, 20/20 Rx focuses on pharmacy operations and allows pharmacies to easily identify and prevent drug diversion activities, while also ensuring regulatory compliance with federal and state standards.
In addition, the new 20/20 product makes it easy for pharmacies to identify and report prescribers who may be overprescribing controlled substances and patients who are attempting to fill invalid prescriptions. “Pharmacies have the unique task of remaining compliant with federal and state regulations and keeping track of the controlled substances that pass through their system to ensure no one is abusing or stealing them, all while delivering exceptional customer service,” said Russ Hawkins, president and chief executive officer, Agilence.
“20/20 Rx provides pharmacies with the ability to easily identify drug diversion and regulatory compliance issues that can lead to significant fines and even the loss of their license, allowing them to proactively solve for the unexpected.” With 20/20 Rx, every level of personnel from C-level executives to store managers, gain visibility into business information underlying operational efficiencies, regulatory compliance, and loss prevention. The new data analytics solution from Agilence includes executive level dashboards, predictive modeling, prescriptive alerts, and operational level reporting all built into a single, easy-to-use solution.
The key benefits associated with 20/20 Rx include:
- Ensure regulatory compliance: Remain compliant with federal and state laws by automatically analyzing prescription data to identify inappropriate or illegal attempts by prescribers and patients to acquire controlled substances.
- Identify and prevent drug diversion: Analyze the flow of drugs including orders, transfers, fills, and inventory adjustments to quickly and easily identify potential losses that occur from both day-to-day inefficiencies as well as deliberate theft by employees.
- Reduce labor, chargebacks, and fines: Properly handling insurance submittals and navigating federally funded prescriptions is a time-consuming process that can lead to undue labor, chargebacks and significant fines. Now pharmacies can analyze prescriptions to streamline the process and reduce costly mistakes.
“20/20 Rx delivers unprecedented functionality for pharmacy operations and asset protection,” said Derek M. Rodner, Agilence’s vice president of product strategy. “Through automated analysis, identification, and notification of anomalies, pharmacies are able to focus on running the business while 20/20 keeps them compliant.”