• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

MedVentive Releases Latest Version of PRISM Drug Substitution System

Posted on: Thursday, 22 December 2005, 09:00 CST

Improved Functionality and Customization Tools Heighten Impact for Healthcare Providers, Payors

MedVentive, a provider of medical cost containment and quality improvement solutions, has released a significantly enhanced version of PRISM, its Web-based drug substitution system that has saved millions of dollars in pharmacy costs for healthcare providers and payors alike. The new version of PRISM ensures that MedVentive clients are always achieving maximal financial savings while maintaining the highest standards of care.

Every month, PRISM analyzes pharmacy claims data and identifies patients whose prescription regimen can be made more cost efficient. PRISM automatically sends each patient's physician a letter explaining the recommended change, including a complete drug history for the physician to review prior to making the switch, a preprinted prescription for the new drug and a letter to the patient explaining the new therapy.

PRISM's recent upgrade allows users to easily tailor the system to their particular formulary and cost structure, plus navigate the system more easily. The new version supports the efficient creation of customized interchanges for each client and allows these interchanges to be modified quickly and efficiently as the client formularies and co-pays change over time.

"Most therapeutic substitution systems use rules created by third parties. In some cases, the systems use the same set of rules for all clients, and the rules are typically slow to change," explained MedVentive president and CEO Jonathan M. Niloff, M.D. "PRISM is customized for each client and updated continuously. With new commercial and Medicare payment initiatives rapidly changing the healthcare marketplace, PRISM's flexibility will become even more important."

The new version of PRISM improves an application with an already long track record of success. The 490-physician Mount Auburn Cambridge Independent Practice Association, Inc. (MACIPA) has used PRISM for the past 6 years.

"PRISM is extremely user-friendly to the busy physician interested in delivering optimally efficacious and cost-effective drug therapy to the patient," said Dr. Edward Kowaloff of MACIPA. "The system performs the work of raising the pertinent issues in drug selection and presents the choice to the physician for application to the individual patient. Thus, the physician is spared much of the technical review of drug profiles and can render a clinical decision regarding the appropriateness of a drug selection to a specific case. We are tremendously pleased with PRISM, which preserves our clinical autonomy and draws upon the expertise of the pharmacologist and information specialist -- an excellent example of interdisciplinary cooperation toward optimal patient care."

About MedVentive

For nearly ten years, MedVentive has worked with leading academic hospitals, health plans and physicians to develop and deploy innovative, clinically sophisticated approaches to successfully reduce healthcare costs and improve quality. Healthcare providers, payor organizations and self-insured employers use MedVentive's technology and services to identify their greatest healthcare improvement opportunities and act quickly and efficiently to effect change through customized interventions. For more information, visit www.MedVentive.com.

Source: Business Wire

More News in this Category