Orlando, FL, October 21, 2021 –(PR.com)– The constant dilemma confronted by pharmacy procurement management teams of determining how and where to source pharmaceutical products is getting some much-needed alleviation from the MedShorts marketplace. “The pandemic exacerbated the long-standing vulnerabilities of medical supply chains and created a new set of challenges for pharmacy teams tasked with keeping essential medications in adequate stock,” said Blake Powers, President of MedShorts. “I’m thrilled we’re able to offer a solution to two of the largest pharmacy procurement issues of our time – drug access and cost reduction,” he continued.
The ASHP case study is broken down by summary, challenges, solutions and outcomes. The study examines the burden placed squarely on pharmacy procurement management in maintaining adequate supplies of essential medications during the pandemic. The challenges for pharmacy staff are daunting as drug prices have tripled over the last decade.
Additionally, drug procurement teams continue to struggle to determine inventory availability and specific order requirements across multiple manufacturers, including minimum orders, shipping and handling fees.
The solution involves utilizing new technologies now available for enhanced organization and management of cost-containment initiatives to provide greater flexibility for suppliers and providers. The MedShorts marketplace was specifically designed and implemented to aggregate manufacturer excess drug supply and match it to individual pharmacy usage levels to identify discounted opportunities for pharmacies. “The outcome leads to substantial drug cost savings and game changing sourcing opportunities,” stated Powers.
Another affirmative outcome cited by the Los Angeles County Department of Health is greater innovation, particularly with new technologies, in amplifying sourcing and savings opportunities. “We are always looking for innovative ways to improve sourcing options and the MedShorts marketplace was checking the right boxes,” explained Mark Burstyn, a PharmD and Pharmacy Supervisor of Los Angeles County Department of Health.
MedShorts is an Orlando-based online marketplace provider specialized in connecting pharmacies with pharmaceutical manufacturers to source short-dated and short-supply medications. For more information about MedShorts, please see the company’s website: www.MedShorts.com
Blake Powers is the President of MedShorts and a familiar leader in the healthcare industry in the Central Florida area. His background encompasses software development and pharmacy operations. Prior to co-founding MedShorts, he served as lead pharmacy technician for a national home infusion pharmacy. He holds two degrees from Florida State University in Finance and Entrepreneurship, and an MBA from Rollins College, Crummer Graduate School of Business.