Partnership Delivers Advanced Algorithms to Manage Drug Costs and Health Outcomes
Pinscriptive, which leverages big-data analytics to identify the most clinically-effective specialty medications at an optimal cost for individual patients and patient sub-populations, has partnered with T-Systems, the corporate customers arm of Deutsche Telekom and one of the world's leading providers of information and communications technology (ICT). T-Systems will provide Infrastructure-as-a Services (IaaS) that is ISO-compliant to industry regulations. This innovative strategic partnership will provide a hosted secured environment for the analytics that will ultimately drive cost savings for healthcare payers, providers, and patients, without sacrificing appropriate health outcomes.
There is currently estimated to be more than $20billion (USD) in annual, solvable specialty Rx inefficiencies in the U.S. alone. By identifying which drugs are most effective for which patients (precision analytics for precision medicine) Pinscriptive can significantly reduce costs for providers and payers, while still delivering appropriate patient health outcomes. The business model also seeks to be collaborative with biopharmaceutical manufacturers, as they too will face pay-for-performance pressures via risk-based contracting, and will need to know specific sub-populations where their product performs well.
Specialty drugs account for 2% of all drugs sold, but by 2018 will be 50% of the total spend for prescription medications. Pinscriptive uses advanced, big-data analytics and collaborative approaches to identify the right drugs, for the right patient, at the right time, thereby reducing cost and improving outcomes. T-Systems provides a 'secure' cloud-based platform to support these analytics and offers an easy solution for many healthcare IT landscapes which are interested in such a solution but often struggle with how to deploy advanced analytics efficiently.
"The partnership with Pinscriptive provides organizations seeking a secure, cloud-based solution, a better way to manage out-of-control specialty drug use and costs," said Jim Sabogal, Senior Director for Life Sciences and Healthcare at T-Systems North America. Mark Lelinski, CEO of Pinscriptive added, "Our partnership with T-Systems will now allow payers, providers and biopharmaceutical companies to access our specialty drug management platform more efficiently, thereby achieving their drug utilization management performance goals sooner."
Pinscriptive is a healthcare technology company focused on better managing specialty drug use and cost for its payer, provider, and biopharmaceutical company customers. Our proprietary advanced analytics platform uses algorithms and machine learning to better manage specialty drug utilization, cost, and outcomes. Pinscriptive allows its customers to customize its value-based healthcare algorithms to deliver better, more precise, prescription decisions for patients. Pinscriptive is backed by investments from Frost Data Capital, an Orange County, California-based venture capital and healthcare incubator company.