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OTN Recognized With Frost & Sullivan's Customer Value Enhancement Award in the Oncology Therapeutics Market

Posted on: Wednesday, 20 July 2005, 09:01 CDT

Frost & Sullivan will present its 2005 Customer Value Enhancement Award to OTN (Oncology Therapeutics Network) at tonight's third annual Customer Value Enhancement Awards Banquet. OTN has received the award in recognition of advancing cancer care in the community-based setting. By offering cancer therapeutics, innovative technology, information services, and business management solutions to office-based oncologists, OTN allows their customers to focus more on caring for their patients.

The Customer Value Enhancement Award is presented to the company that has best demonstrated the ability to expand its customer base, while maintaining its existing install base, by using more innovative value creation and enhancement strategies than its competitors. The Award recognizes the company's successful sales entry, customer acquisition and service strategies, and the degree to which it has met its customers' needs and requirements.

"OTN's customer service capabilities and understanding customer needs set it apart from the competition," said Frost & Sullivan research analyst Jason McKinnie. "Now that the company has become independent from Bristol-Myers Squibb, it can further build on its strong market position and long history of providing medical practices and manufacturers with innovative tools and services to offer more innovative technology, information services and solutions to office-based oncologists."

Chemotherapy administration began undergoing a shift in the 1980's as oncologists increasingly administered treatments in outpatient clinics instead of in the hospital. This shift in treatment lead to the need for reliable distribution of chemotherapy and supportive care pharmaceuticals to community-based clinics. OTN was founded in 1990 to meet the needs of these practices.

Since then, OTN has greatly expanded its offerings. In addition to distribution services for pharmaceuticals and medical surgical supplies, and technology solutions for inventory management and practice management through its Lynx platform, OTN provides office-based oncologists with education around cancer treatments, reimbursement, and practice efficiency solutions.

"OTN's Lynx system can better track billing and make it easier to analyze patient drug usage and costs per drug regimen as well as automatically reorder medication when it reaches a certain pre-set level," added Mr. McKinnie. "Lynx also provides excellent data integration by linking multiple office management systems to enable accurate patient scheduling and billing information."

Recently, OTN, building on its long-standing relationships with community-based oncology practices, launched Onmark, a Group Purchasing Organization (GPO). In just four months, Onmark has become the third largest GPO in community oncology, with more than 500 practices and over 1,000 physicians. Onmark's suite of business, educational, and clinical services complements those of OTN.

"OTN now supports all local and national group purchasing organization contracts and serves its clients by providing them with GPO choices," said Mr. McKinnie.

Frost & Sullivan's Customer Value Enhancement Awards Banquet, held in Boston, honors world-class companies for their outstanding performance and achievements in customer care. An annual event, the banquet recognizes innovative developments that will significantly improve customer interaction and contribute to customer satisfaction.

About OTN

OTN is an industry leading oncology services company that provides oncology drugs, supportive care products and related supplies to more than 2,400 office-based oncology practices in the United States, comprising more than 4,000 physicians. OTN is dedicated to distribution, financial, technology and business solutions to help community-based oncologists manage their business more effectively. For more information, please visit www.myOTN.com

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com.

Source: Business Wire

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