MOUNTAIN VIEW, Calif., Oct. 5, 2017 /PRNewswire/ -- Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management automation, analytics software, and medication adherence solutions for healthcare organizations, today announced it has been named as the Frost & Sullivan 2017 Global Smart Hospitals' Pharmacy Automation Vendor Company of the Year. Following a global independent, comprehensive evaluation of the vendor landscape, Frost & Sullivan analysts recognized Omnicell's medication management portfolio, service offerings, customer satisfaction, and financial performance. The Company of the Year Award, part of Frost & Sullivan's Best Practices Awards, is presented to the organization that demonstrates excellence in growth, innovation, and leadership, with superior performance in demand generation, brand development, and competitive positioning.
"During our global review process for considering vendors for our Best Practices Awards, we strive to identify the company that is addressing existing challenges through future-ready technologies that will adapt and grow with the market," said Siddharth Shah, Frost & Sullivan Industry Analyst. "Omnicell's comprehensive approach to medication management and customer loyalty and satisfaction were driving factors in our team's decision. The combination of secure hardware with cloud-based software that arms hospital teams with decision-ready insights made Omnicell the clear leader in this category."
Reimbursement trends, value-based care, and patient satisfaction expectations pose challenges to today's hospitals. Healthcare institutions must balance reducing costs, improving quality of care and patient outcomes, and increasing overall efficiency. Frost & Sullivan's analysis recognizes Omnicell's success in helping customers use technology to navigate these challenges, citing its comprehensive product portfolio that spans the entire continuum of care and aligns with healthcare's shift into the community. With hospital pharmacies and nursing, technology can make a dramatic impact on increasing efficiency, enabling clinicians to spend more time on patient care.
Omnicell approaches existing healthcare challenges with the goal of providing automation that requires minimal manual input. For example, Omnicell's robotic system for IV compounding is less costly than outsourcing and provides hospital pharmacies with a fully automated process that delivers greater accuracy. Advanced interoperability between the Company's medication dispensing system and leading electronic health record vendors reduces redundant tasks for front-line staff, thereby increasing employee satisfaction and patient safety. Technological solutions such as these, along with Omnicell's commitment to customer experience and satisfaction, contributed to Frost & Sullivan's decision.
"We're honored to be recognized for our product innovation and commitment to our hospital, pharmacy, and non-acute care customers in the U.S. and internationally," said Randall A. Lipps, chairman, president, CEO and founder of Omnicell. "Our goal has always been to enable providers to deliver better and more efficient care to patients—a balance that is becoming increasingly challenging for our hospital partners. We're committed to developing products and services that ultimately help achieve this goal, and we continue to be inspired by our customer partners as we work with them to find the best solution to fit their needs."
For the Company of the Year Award, Frost & Sullivan analysts independently evaluated two key factors: visionary innovation and performance and customer impact. For more information on this evaluation process, please view the complete Frost & Sullivan report here.
The 2017 Smart Hospitals' Pharmacy Automation Vendor Company of the Year Award will be presented to Omnicell at the Excellence in Best Practices Awards Gala on January 24, 2018 in Anaheim, CA.
About Frost & Sullivan
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Since 1992, Omnicell (NASDAQ: OMCL) has been inspired to create safer and more efficient ways to manage medications and supplies across all care settings. As a leader in medication and supply dispensing automation, central pharmacy automation, IV robotics, analytics software, and medication adherence and packaging systems, Omnicell is focused on improving care across the entire healthcare continuum—from the acute care hospital setting, to post-acute skilled nursing and long-term care facilities, to the patient's home.
Over 4,000 customers worldwide use Omnicell® automation and analytics solutions to increase operational efficiency, reduce medication errors, deliver actionable intelligence and improve patient safety.
Omnicell's innovative medication adherence solutions, used by over 32,000 institutional and retail pharmacies in North America and the United Kingdom, are designed to improve patient adherence to prescriptions, helping to reduce costly hospital readmissions.
Recent Omnicell acquisitions, including Ateb, add distinct capabilities, particularly in central pharmacy, IV robotics, and pharmacy software, creating the broadest medication management product portfolio in the industry.
For more information about Omnicell, Inc. please visit www.omnicell.com.
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