IBM Watson Health and OrbitalRX to Launch Integrated Solution to Assist Hospital Pharmacy Providers in Managing Drug Shortages

Joint offering pairs pharmacy supply chain management capabilities with evidence-based drug content, designed to help hospital pharmacy teams manage drug shortages CAMBRIDGE, Mass. and WINSTON-SALEM, N.C., Sept. 1, 2020 /PRNewswire/ — IBM (NYSE: IBM) Watson Health and OrbitalRX® today announced a strategic collaboration that aims to help address the emerging drug shortage crisis. The companies are combining OrbitalRX’s Drug Shortage Management Platform and IBM® Micromedex® into one unified solution called “OrbitalRX and Micromedex,” designed to create a single source for healthcare providers and pharmacy teams to access evidence-based treatment information alongside a hospital’s current drug inventory status and drug sourcing options. This one solution aims to quickly analyze the supply chain and identify clinical alternatives for drugs that are in short supply. The global drug shortage crisis has accelerated at an alarming rate during the COVID-19 crisis. According to the American Society of Health-Systems Pharmacists (ASHP), close to 200 drugs are currently on the drug shortage list in the U.S. alone. Management of these shortages is further complicated by the fact that shortages vary by drug and location, as noted by the American Medical Association (AMA). The new solution, OrbitalRX and Micromedex, will be designed to evaluate important drug information, clinical evidence, and comparative efficacy, alongside the hospital’s drug inventory, purchase history, and utilization data, enabling hospital providers, pharmacists and pharmacy technicians to proactively manage drug shortages. “As hospitals around the world experience shortages of life-saving therapies, there is an immediate, critical need for evidence-based information around clinical alternatives,” said Todd Nolen, General Manager, IBM Micromedex Solutions, IBM Watson Health. “We are addressing this critical need by combining our Micromedex content with powerful insights from the OrbitalRX platform. Our goal is to deliver a trusted platform to help pharmacists and other healthcare providers streamline workflow and rapidly respond to drug shortages with appropriate, safe and effective alternative therapies.” IBM Micromedex is one of the largest online reference databases for medication information. It is used by more than 4,500 hospitals and health systems worldwide to help support decision-making in medication therapy management, disease and condition management, toxicology, alternative medicine and patient education. OrbitalRX is the only platform designed by hospital pharmacists, for hospital pharmacists, to unify supply chain and clinical utilization to manage drug shortages and deliver the power of real-time situational awareness in hospital pharmacy workflows. “Patient safety can be compromised by supply chain interruptions, limited drug access due to high medication costs, and unforeseen events like COVID-19. OrbitalRX and Micromedex aim to help health system pharmacy departments mitigate these workflow challenges by identifying drug alternatives from a clinical and supplier perspective,” said OrbitalRX co-founder and CEO, Adam Orsborn, PharmD, MS. “Rooted in cloud-based technology and evidence-based insights, this new, unified solution is designed to deliver workflow efficiencies that will empower pharmacists and providers to prioritize therapeutic needs.”  “Hospital resources are scarcer than ever, especially with drug shortages and supply chain inefficiencies conspiring daily to upend the rigorous efforts of health systems to improve care quality while reducing cost,” said OrbitalRX co-founder and Chief Product Officer, Nate Peaty, PharmD, MS. “With these challenges in mind, OrbitalRX and Micromedex plan to provide health systems with a highly intelligent and automated solution designed to help them with one of the most frustrating issues they face today.”   OrbitalRX and Micromedex is anticipated to be available in Q4 2020. Please visit www.ibm.com/products/orbitalrx-micromedex.com to learn more about the solution, schedule a live demo, or to register for a webinar on September 24 to learn more. About IBM Watson HealthIBM Watson Health is a data, analytics, and technology partner for the health industry. Supported by the innovation of IBM and intelligence of Watson, we are committed to helping build smarter health ecosystems. Through the combination of our deep industry expertise in health, data and analytics, actionable insights, and reputation for security and trust, Watson Health is working together with its clients and partners to help them achieve simpler processes, better care insights, faster breakthroughs, and improved experiences for people around the world. Learn more at www.ibm.com/watson-health. For more information about IBM visit, www.ibm.com. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.  About OrbitalRX Co-founded by health-system pharmacy leaders, OrbitalRX offers a one-of-a-kind drug shortage management platform which helps to identify risk factors using internal and external data for when a medication shortage could cause harm in your health-system. We offer everything you need to anticipate, evaluate, take action, follow-up, and report in a single, powerful platform designed to improve your overall shortage management strategy. To learn more about how we’re changing the way hospital pharmacies monitor their supply and manage shortages in the supply chain, visit www.orbitalrx.com.   IBM Media ContactMatthew Henson917-930-7147matthew.henson@ibm.com OrbitalRX Media Contact  Emily Nichols emily@orbitalrx.com SOURCE IBM Watson Health

Joint offering pairs pharmacy supply chain management capabilities with evidence-based drug content, designed to help hospital pharmacy teams manage drug shortages

CAMBRIDGE, Mass. and WINSTON-SALEM, N.C., Sept. 1, 2020 /PRNewswire/ — IBM (NYSE: IBM) Watson Health and OrbitalRX® today announced a strategic collaboration that aims to help address the emerging drug shortage crisis. The companies are combining OrbitalRX’s Drug Shortage Management Platform and IBM® Micromedex® into one unified solution called “OrbitalRX and Micromedex,” designed to create a single source for healthcare providers and pharmacy teams to access evidence-based treatment information alongside a hospital’s current drug inventory status and drug sourcing options. This one solution aims to quickly analyze the supply chain and identify clinical alternatives for drugs that are in short supply.

IBM Corporation logo. (PRNewsfoto/IBM)

The global drug shortage crisis has accelerated at an alarming rate during the COVID-19 crisis. According to the American Society of Health-Systems Pharmacists (ASHP), close to 200 drugs are currently on the drug shortage list in the U.S. alone. Management of these shortages is further complicated by the fact that shortages vary by drug and location, as noted by the American Medical Association (AMA).

The new solution, OrbitalRX and Micromedex, will be designed to evaluate important drug information, clinical evidence, and comparative efficacy, alongside the hospital’s drug inventory, purchase history, and utilization data, enabling hospital providers, pharmacists and pharmacy technicians to proactively manage drug shortages.

“As hospitals around the world experience shortages of life-saving therapies, there is an immediate, critical need for evidence-based information around clinical alternatives,” said Todd Nolen, General Manager, IBM Micromedex Solutions, IBM Watson Health. “We are addressing this critical need by combining our Micromedex content with powerful insights from the OrbitalRX platform. Our goal is to deliver a trusted platform to help pharmacists and other healthcare providers streamline workflow and rapidly respond to drug shortages with appropriate, safe and effective alternative therapies.”

IBM Micromedex is one of the largest online reference databases for medication information. It is used by more than 4,500 hospitals and health systems worldwide to help support decision-making in medication therapy management, disease and condition management, toxicology, alternative medicine and patient education. OrbitalRX is the only platform designed by hospital pharmacists, for hospital pharmacists, to unify supply chain and clinical utilization to manage drug shortages and deliver the power of real-time situational awareness in hospital pharmacy workflows.

“Patient safety can be compromised by supply chain interruptions, limited drug access due to high medication costs, and unforeseen events like COVID-19. OrbitalRX and Micromedex aim to help health system pharmacy departments mitigate these workflow challenges by identifying drug alternatives from a clinical and supplier perspective,” said OrbitalRX co-founder and CEO, Adam Orsborn, PharmD, MS. “Rooted in cloud-based technology and evidence-based insights, this new, unified solution is designed to deliver workflow efficiencies that will empower pharmacists and providers to prioritize therapeutic needs.” 

“Hospital resources are scarcer than ever, especially with drug shortages and supply chain inefficiencies conspiring daily to upend the rigorous efforts of health systems to improve care quality while reducing cost,” said OrbitalRX co-founder and Chief Product Officer, Nate Peaty, PharmD, MS. “With these challenges in mind, OrbitalRX and Micromedex plan to provide health systems with a highly intelligent and automated solution designed to help them with one of the most frustrating issues they face today.”  

OrbitalRX and Micromedex is anticipated to be available in Q4 2020. Please visit www.ibm.com/products/orbitalrx-micromedex.com to learn more about the solution, schedule a live demo, or to register for a webinar on September 24 to learn more.

About IBM Watson Health
IBM Watson Health is a data, analytics, and technology partner for the health industry. Supported by the innovation of IBM and intelligence of Watson, we are committed to helping build smarter health ecosystems. Through the combination of our deep industry expertise in health, data and analytics, actionable insights, and reputation for security and trust, Watson Health is working together with its clients and partners to help them achieve simpler processes, better care insights, faster breakthroughs, and improved experiences for people around the world. Learn more at www.ibm.com/watson-health.

For more information about IBM visit, www.ibm.com. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only. 

About OrbitalRX
Co-founded by health-system pharmacy leaders, OrbitalRX offers a one-of-a-kind drug shortage management platform which helps to identify risk factors using internal and external data for when a medication shortage could cause harm in your health-system. We offer everything you need to anticipate, evaluate, take action, follow-up, and report in a single, powerful platform designed to improve your overall shortage management strategy. To learn more about how we’re changing the way hospital pharmacies monitor their supply and manage shortages in the supply chain, visit www.orbitalrx.com.  

IBM Media Contact
Matthew Henson
917-930-7147
matthew.henson@ibm.com

OrbitalRX Media Contact 
Emily Nichols 
emily@orbitalrx.com

SOURCE IBM Watson Health

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"The logic, purpose, and differentiation of all businesses can now be rendered in code, which is why digital innovation has become the most powerful way to drive transformation and hybrid cloud is the lever that unleashes it," said Arvind Krishna, chief executive officer, IBM. "Together with Schlumberger, we are empowering a much broader group of participants to play a role in driving that transformation and helping the energy industry solve some of the world's toughest challenges to emerge stronger." "The energy industry is transforming as organizations look for efficient new ways to power their operations, adopt digital technologies to create a competitive advantage, and innovate and integrate workflows to make faster and better decisions," said Paul Cormier, president and chief executive officer, Red Hat. "A hybrid cloud foundation built on open source offers the flexibility, acceleration and innovation this digital transformation requires. Schlumberger has long been an industry leader and is bold in its vision for digital transformation in the energy industry. We look forward to working closely with Schlumberger to make the DELFI environment available everywhere with Red Hat OpenShift."  Schlumberger supports many of the world's most vital oil and gas operations and is on the forefront of digitalization across the energy sector. It has established the DELFI environment as the industry-leading cognitive E&P environment where today energy professionals access open APIs to work together, independent of role, workflow or physical location, and create solutions that significantly improve business operations. The organizations intend to further their collaboration with the creation of a differentiated data management and operations solution for the OSDU™ data platform, enabling oil and gas operators to build, deploy and transition digital solutions with hybrid-cloud data infrastructures. This will foster wider collaboration and greater efficiency across many professionals in the E&P value chain. Prior to this announcement, Schlumberger, IBM and Red Hat successfully piloted the new hybrid cloud deployment of the DELFI environment on Red Hat OpenShift, the leading Kubernetes platform, working with Red Hat and IBM Services, the world's largest team of Red Hat certified consultants. The two organizations focused on demonstrating the flexibility and portability for compute, storage and data intensive exploration and field development applications. IBM's collaboration with Schlumberger is part of the company's new commitment to invest in accelerating adoption of hybrid cloud and open architectures. IBM is targeting essential industries, such as energy, running the crucial processes of the world. These efforts are increasing in importance as organizations navigate the impacts of the pandemic and economic downturn, which is creating an acute need for speed to market, flexibility and nimbleness to encourage innovation. About SchlumbergerSchlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 85,000 people as of the end of the second quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com. About Red HatRed Hat is the world's leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future. About IBMIBM combines technology with industry expertise to help Oil & Gas clients digitally reinvent their businesses for resilience and sustainability. Pioneering advances in materials science from IBM Research accelerate energy transition. Data science and AI take the guesswork out of exploration. Predictive asset management raises production throughput. Supply chain insights and blockchain build trust and transparency across the downstream ecosystem. Customer experience experts reshape consumer connections at the gas pump or electric charge station. Through these solutions IBM helps Oil & Gas clients emerge smarter. For further information visit:  https://www.ibm.com/industries/oil-gas *Mark of Schlumberger. For further information, contact: MediaMoira DuffCorporate Communication Manager, Schlumberger LimitedOffice: +1 (713) 375-3494communication@slb.com Sarah MeronIBM Vice President, Corporate CommunicationsOffice: +1 (914) 499-6435ibmpress@us.ibm.com SOURCE IBM