Archive for December, 2011

Catalyst: Driving Patient Safety through Technology

FOR IMMEDIATE RELEASE

“Patient safety must be at the forefront of healthcare,” says Shane Bishop, President, Catalyst. “Medication errors can cost organizations a lot of money, especially when they lead to patients having to go back to the acute care setting. Driving out preventable medication related incidents should be a top priority.”

From a solution provider company at the marcus evans Long-Term Care CXO Summit Spring 2012, Bishop shares his thoughts on improving patient safety in the long-term care setting. 

What would improve patient safety in the long-term care sector?

Shane Bishop: We are seeing a decrease in overall funding in this sector, making it a challenge to provide quality care focused on outcomes. In particular, medication administration is a time consuming responsibility and a heavy burden on staff; organizations need the proper support, which includes a dedicated pharmacy partner and the right technologies.

Bar-code scanning at the point of care ensures the “7 Rights”: right resident, drug, dose, time, route, reason and documentation. With so much pressure to reduce costs, adopting technologies that integrate the unique needs of both pharmacy and facility in real-time has become essential for decreasing medication errors.

Which of these “7 Rights” are not done right at the moment?

Shane Bishop: Right documentation at the right time is definitely under the spotlight. Caregivers are under a lot of time pressures when administering medication, and that is only part of what is going on in facility-based care. Supporting nurses and caregivers by giving them timely access to the right information significantly increases safety and improves outcomes.

What features should these medication administration technologies have?

Shane Bishop: Bar-code scanning at the point of care for medication safety and to manage inventory is a must. For example, if a prescription is discontinued at the pharmacy it should be instantly reflected in the resident’s medication administration record at the point of care. To support constant and timely communication, pharmacy and long-term care facility systems have to be linked.

Our technology, Catalyst oneMAR^TM, provides real-time connectivity between the pharmacy and facility, allowing caregivers to scan a bar-code to confirm the “7 Rights” and safely and efficiently administer medication. Communication with the pharmacy can take up a lot of the nurse’s time and this is automated with oneMAR.

How can facilities ensure they remain patient-centered?

Shane Bishop: It is important for long-term care facility operators to partner with pharmacies that offer technology as part of their service and that have a deep understanding of medication management. Many pharmacies are adopting these types of technologies as it helps them control costs and improve quality both internally and for the facilities they serve. Through technology initiatives that support nursing practice, facilities are able to keep the focus on the patient.

What outcome would the short cycle dispensing model, as in Canada, have on the US healthcare system?

Shane Bishop: Short cycle dispensing, a seven to 14 day cycle fill, has been working well in Canada for the last ten years. The adoption of technology drives efficiencies throughout the spectrum of care, from pharmacy to facility, to patient, to payor. Short cycle dispensing decreases waste, and through the adoption of technology, both pharmacies and facilities are empowered to take a more active role in patient outcomes. 

It is possible to drive down costs while improving the quality of care, and all facility operators should be investigating the opportunities made possible by technology.

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

Tel: + 357 22 849 313
Email: press@marcusevanscy.com

About the Long-Term Care CXO Summit Spring 2012

Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the Health Care Reform, innovative quality improvement, and staff recruitment and retention strategies.

For more information please send an email to info@marcusevanscy.com or visit the event website

marcus evans group – healthcare sector portal 

Please note that the summit is a closed business event and the number of participants strictly limited.

About Catalyst Healthcare

Catalyst is a leading provider of medication safety and workflow solutions. Through the use of time sensitive bar-coding, oneMARTM ensures that the right medication is given to the right resident at the right time, increasing safety and efficiency. oneMAR’s inventory tracking simplifies short-cycle prescription delivery and pharmacies and facilities benefit from improved communication, extensive reporting, and safe, standardized medication practices.

For more information: www.catalystrms.com

About marcus evans Summits

marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com 

All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com

Top of the agenda at healthcare events this year will be the Government’s spending review and its impact on the sector. And many will look to recent results from healthcare giants Bupa for signs that 2011 could be a tough year.

This week Bupa reported a 72% fall in profits to £118 million during 2010. The company also took a £249.2 million loss on recent acquisitions including Bupa Home Healthcare and the Cromwell Hospital in London.

However Bupa revealed that excluding these write-downs, their underlying profits actually rose by 9%.

The firm pointed to the recessionary climate and cutbacks in government spending. According to Bupa, approximately 70% of residents in UK homes are funded by local authorities or the NHS. And chief executive Ray King believes “the whole sector needs to be re-financed”.

Marcus Evans presents healthcare events, created by experienced professionals and with information presented by industry experts.

People who are interested in healthcare conferences may be interested to hear that the pharma outsourcing industry in India is growing rapidly.

Companies working in the pharmaceutical industry in India are expanding constantly, with higher demand placed on them call the time, Times Ascent reported.

The news provider spoke to Manish Gupta, chief executive officer of Indegene Life Systems PVT, who said that the opportunities in the sector were "tremendous" at this time, both in terms of profit and career development.

He added: "Global aging, increasing life expectancy, changing disease epidemiology, health awareness, and rise in disposable income in emerging markets will change the way healthcare and pharma business are conducted. Globally, companies are expanding the range of services that they want to outsource."

Global spending on pharmaceuticals is around $650 billion.

Marcus Evans presents healthcare conferences, created by experienced professionals and with information presented by industry experts.

Investment managers may look to healthcare events for their next opportunity after a recent deal was announced by Swiss and Global.

The asset management firm has launched a fund which looks to exploit opportunities in the health sector as populations age across the world.

The Julius Baer Health Opportunities Fund invests in globally listed healthcare companies including service providers, medical technology and pharmaceuticals.

The fund will also provide money for innovators in the health industry who focus on curing diseases.

Swiss and Global expect the sector will grow beyond its current rate of 10-15% of GDP. It points to strong population growth and increasing wealth worldwide as reasons for investment.

In particular, the firm believes "healthcare reform in the US will lead to more universal health-insurance coverage and an expansion of healthcare infrastructure".

Marcus Evans presents healthcare events, created by experienced professionals and with information presented by industry experts.

Mergers and acquisitions have been the talk of healthcare events last year as the big firms moved to increase their offerings.

And drug manufacturer Pfizer has expanded its European business by acquiring a manufacturer of dietary supplements.

Ferrosan is a Danish firm which makes lifestyle products and is being sold by private equity fund Altor.

Its wide portfolio of products includes multivitamins, Omega 3 products and oral skincare brands.

Since the investment from Altor in 2005, Ferrosan has seen a huge jump in profits.

The firm saw an average annual increase of 15% and is an attractive acquisition for Pfizer.

Paul Sturman is the head of Pfizer Consumer Healthcare, and he believes that they will "gain greater distribution for Pfizer’s well known brands" such as the multivitamin Centrium.

Marcus Evans presents healthcare events, created by experienced professionals and with information presented by industry experts.

The healthcare reforms of US President Barack Obama will undoubtedly be the talk of healthcare business events this year. And those reforms were dealt a blow today after a second federal judge declared the proposed law unconstitutional.

District Judge Roger Vinson ruled that the individual mandate in the US Healthcare Reform Bill of 2010 went too far.

He argues that the requirement that Americans purchase health insurance or face a penalty violates their rights as an individual.

Judge Vinson said that as a result "the entire act must be declared void" with the case likely to go to the Supreme Court.

Any ruling is likely to be watched closely by business leaders in the healthcare economy. Insurance companies and service providers will be affected either way by any proposed changes.

Marcus Evans presents healthcare business events, created by experienced professionals and with information presented by industry experts.