Omnicell-Geisinger Deal Improves Patient Care Via Automation
Zacks Investment Research | Feb 12, 2020 08:49PM ET
Omnicell, Inc. (NASDAQ:OMCL) inked a six-year sole source agreement with Geisinger (a key health system, serving Pennsylvania and New Jersey) to improve clinical and operational efficiency, increase medication safety, and reduce costs. The ultimate aim of the agreement is to improve patient care.
Per the agreement, Omnicell will allow Geisinger to utilize its XT Automated Dispensing Systems to enhance nurse-pharmacy workflows, and medication safety and security. Omnicell noted that Geisinger recently upgraded its system to XT Anesthesia Workstation, just before the signing of the deal. Traditionally, Geisinger operated manually to access medications in the operating room.
With the partnership, Omnicell aims to strengthen its Automation & Analytics business globally.
Rationale Behind the Partnership
Omnicell believes that a fully-autonomous pharmacy paves the way for improved efficiency, regulatory compliance and patient outcomes through automation, data intelligence and expert services.
The company aims to deliver an error-free and fully-automated medication management infrastructure, thus allowing pharmacists to utilize their time for direct patient care. This will allow them to spend lesser time on administrative responsibilities involved in running a pharmacy.
Industry Prospects
Per a report by Zacks Investment Research
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