BOWIE, Md., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today announced Palmetto Pharm, a patient-focused, pharmacist-owned independent specialty pharmacy, selected Inovalon's ScriptMed® Specialty as their pharmacy management software. Inovalon’s ScriptMed Specialty will equip Palmetto Pharm with actionable insights to reduce administrative burden, foster improved collaboration between patients, providers, and health plans, and accelerate the time to therapies for enhanced clinical and financial outcomes.
Founded in 2022, Palmetto Pharm required a best-in-class cloud-based platform to scale efficiently and achieve its goal of becoming a nationwide specialty pharmacy licensed in all 50 states. With their selection of the Inovalon pharmacy software platform solution, ScriptMed Specialty will now serve as the foundation for Palmetto Pharm’s customer-centric approach, which enables providers and patients to focus on managing their care for optimal outcomes. Additionally, ScriptMed will aid Palmetto Pharm with end-to-end prescription management, maintaining compliance with industry standards, and providing the highest level of care while ensuring to meet the requirements of the URAC and ACHC Specialty Pharmacy Accreditation.
"Palmetto Pharm pursued a technology partner that could accelerate our ability to scale and help us fulfill our mission of delivering patient-centric care and a seamless experience for providers and patients," said Ryan Fennick, Founder and Chief Executive Officer of Palmetto Pharm. "ScriptMed Specialty software met both our clinical and operational needs and gives us the technological harness to provide value to our customers with an end-to-end solution. The partnership with Inovalon enabled us to follow through with Palmetto’s mission of Use as Written, ensuring products prescribed by healthcare providers are the products that make it to our customers’ door, wherever they live in the US.”
By partnering with Inovalon, Palmetto Pharm is streamlining and automating operational tasks such as referrals, revenue cycle management, inventory management, and prescription delivery to reduce the time and cost to fill and empower providers to deliver high-quality, patient-centric care. ScriptMed is powered by the Inovalon ONE® Platform and is the only end-to-end, cloud-native solution designed to meet specialty pharmacies' complex operational, financial, and clinical needs.
"Palmetto Pharm is a great example of how an engaged start-up can use cloud-based technology to develop a strong foundation while enabling growth concurrently," said Ernie Shopes, President and General Manager of Inovalon’s Pharmacy Business Unit. "We designed ScriptMed to be an end-to-end, flexible cloud platform that grows with organizations like Palmetto Pharm as they scale to drive workflow efficiencies, personalize care plans, and make data actionable at all points of care for the best outcomes. Adopting best-in-class technology is just one way Palmetto Pharm goes the extra mile for patients and care teams, positioning them for continued success in the fast-growing specialty pharmacy market."
For more information on Inovalon's ScriptMed pharmacy solutions, please click here: https://www.inovalon.com/products/pharmacy-cloud/.
About Inovalon
Inovalon is a leading provider of cloud-based software solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics into a sophisticated cloud-based platform empowering improved outcomes and economics across the healthcare ecosystem. The company's analytics and capabilities are used by nearly 20,000 customers supporting over 50,000 sites of care, and are informed by the primary source data of more than 80 billion medical events across 1.1 million physicians, 659,000 clinical settings, and 379 million unique patients. For more information, visit www.inovalon.com.
About Palmetto Specialty Pharm
Palmetto Pharm is a nationwide specialty pharmacy dedicated to delivering a first-class patient experience, while collaborating with patients and providers to enhance access to specialty medications. Our team works in partnership with patients, providers, manufacturers, and payers to alleviate their administrative burdens. We model our core services around what is most important – the people we serve. Our resolute team of trained patient care and clinical specialists, work with the latest HIPAA compliant, cloud-based technology, to provide high-touch customer focused protocols and a secure and streamlined process, while staying true to our motto, "Use as Written.” For more information, visit www.palmettopharm.com.
Contact:
Tom Paolella
Sr. Director, Press and Analyst Relations, Inovalon
Thomas.Paolella@inovalon.com
