Significant Healthcare Cost Savings using Genomics and Real-World Evidence Analytics from Pinscriptive and T-Systems
Partnership Delivers savings opportunity of $30M in specialty drug spend with its first 'proof-of-concept' project for a major healthcare provider and payer
TEMPE, Ariz. and SAN JUAN CAPISTRANO, Calif., July 28, 2017 /PRNewswire/ -- When Pinscriptive and T-Systems announced their partnership on December 8, 2016, http://www.prnewswire.com/news-releases/pinscriptive-and-t-systems-partner-to-deliver-cloud-based-specialty-drug-management-analytics-300374974.html the intent was to test the joint solution, combining advanced analytics from Pinscriptive with cloud computing from T-Systems. An initial proof-of-concept (POC) was set-up with a healthcare provider and payer for one therapeutic area, Hepatitis C. Using both benchmark data and the provider's own data, with feedback from physicians and payers, the partnership delivered $30M in direct drug spend reduction opportunities, and an additional $70M in business improvements. These levels of cost savings were achieved without diminishing the quality of care to the patient.
Hepatitis C has been a significant cost challenge for payers, providers, and patients for the last several years, as new genome-specific treatments have dominated the market at costs often exceeding $80,000 per prescription. The Pinscriptive platform delivers three primary benefits for payers and providers in their quest to manage specialty drug spend while ensuring appropriate health outcomes:
- PRODUCTIVITY - Attending physicians can rapidly see patient data versus cost used within minutes of the initial patient discussion, and therefore prescribe the right drug at the best possible price for both the payer and the patient.
- TRANSPARENCY – Payers are afforded deep analytics at a sub-population level for each drug in the class, and can easily apply rules that support cost savings via large purchases of a particular specialty drugs.
- MAINTAINING PATIENT QUALITY OF CARE – Patients are looking for the best quality of care that physicians can provide. The Pinscriptive solution uses machine learning to optimize the right drug for the right patient, looking beyond cost at other patient factors such as adherences, safety, and health outcomes.
There is tremendous pressure for healthcare providers and payers to manage costs for their patients. By 2021, specialty drug pricing will account for 42% of pharmacy revenues. Identifying which drugs are most effective for which patients (precision analytics for precision medicine), Pinscriptive can significantly reduce costs for providers and payers, while still delivering appropriate patient health outcomes. T-Systems provides a 'secure' cloud-based platform to support these analytics that allows healthcare IT departments to easily consume this capability.
"We are excited about the initial outcome from our POC with Pinscriptive. We see many opportunities to provide a solution for healthcare providers and payers who want to maintain patient quality and manage out-of-control specialty drug use and costs. We can deliver these savings from our secure cloud offering," said Jim Sabogal, Senior Director for Life Sciences and Healthcare at T-Systems North America.
Roni Amiel, CEO of Pinscriptive added, "Our focus on enabling precision medicine through advanced analytics for physicians and payers was a significant achievement in partnership with T-Systems. We aim to continue to disrupt the high value specialty drugs market with similar cost savings programs in other high-cost specialty therapeutic areas such as Rheumatoid Arthritis, Multiple Sclerosis, and Oncology."
About Pinscriptive
Pinscriptive is a healthcare Applied Analytics technologycompany focused on better managing specialty drug use and cost for its payer, provider, and biopharmaceutical company customers. Our proprietary advanced analytics platform uses algorithms and machine learning to better manage specialty drug utilization, cost, and health outcomes. Pinscriptive allows its customers to customize its value-based healthcare algorithms to deliver better, more precise, prescription decisions for patients..
More information:
http://pinscriptive.com/
About T-Systems
With a footprint in more than 20 countries, 46,000 employees, and external revenue in excess of 9 billion dollars (2015), T-Systems is one of the world's leading providers of information and communications technology (ICT). T-Systems offers a range of integrated solutions for business customers, including the secure operation of legacy systems and classic ICT services, the transformation to cloud-based services (including tailored infrastructure, platforms and software) as well as data analytics, the Internet of Things, machine-to-machine (M2M) communication and Industrial Internet. This is all made possible thanks to its global reach in fixed-network and mobile communications, its highly secure data centers, a comprehensive cloud ecosystem built around standardized platforms and global partnerships, and the ability to offer top levels of security.
More information:
http://www.t-systems.com
https://www.facebook.com/TSystemsNorthAmerica/
SOURCE T-Systems
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