SANTA CLARA, California, Aug. 15, 2018 /PRNewswire/ -- Based on its recent analysis of the North America electronic prescribing market, Frost & Sullivan recognizes Surescripts with the 2018 North America New Product Innovation Award for its integrated and streamlined approach to prescription price transparency and electronic prior
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"Leveraging its experience in industry-led collaborative measures, the Surescripts Network Alliance™ includes leading pharmacy benefit managers (PBMs), electronic health records (EHRs) providers, pharmacies, clinicians, and health plans," said Nancy Fabozzi, Principal Analyst, Digital Health. "This powerful network allows Surescripts to offer comprehensive patient intelligence at the point of care (POC), without steering prescribers to specific drugs or channels."
Surescripts has found rapid adoption in the electronic prescribing market. In 2014, 94% of pharmacies and 57% of prescribers in the United States utilized e-prescribing on the Surescripts network; in 2017, those numbers increased to 98% of pharmacies and 69% of prescribers. In the same year, Surescripts introduced its Real-Time Prescription Benefit and expanded Electronic Prior Authorization solutions to offer both price transparency and prior authorization at the POC. Surescripts achieved this by employing actionable intelligence that helped optimize prescription benefits and prior authorization capabilities.
"Surescripts is honored to receive the Frost & Sullivan 2018 North America New Product Innovation Award for our innovative approach to price transparency and benefit optimization at the point of care," said Tom Skelton, Chief Executive Officer of Surescripts. "Combined, these solutions deliver on our purpose of increasing patient safety, lowering costs, and improving quality of care for patients and the physicians and pharmacists who care for them."
Organizations such as Allscripts, Aprima Medical Software, Cerner, CVS Health, Epic, and Express Scripts collaborate with Surescripts to provide personalized prescription benefit and pricing information in the EHR. The service is currently available to EHR vendors representing 69% of US physicians, and 65,000 prescribers nationwide are actively utilizing the service today. A rapidly growing number of clinicians will be able to view this information about drug benefits and costs in near real time, which will help them recommend clinically appropriate and affordable therapeutic alternatives. Furthermore, the company's automated authorization workflow allows users to fill out forms within the EHR, delivering unparalleled value to both patients and providers.
"Due to the company's strong relationships with PBMs, EHR vendors, and others across the Surescripts Network Alliance, both the Real-Time Prescription Benefit and Electronic Prior Authorization solutions experienced significant growth. In 2017, Surescripts processed 3.1 million Real-Time Prescription Benefit transactions," noted Fabozzi. "Overall, Surescripts' best-in-class offering is positioned to continue driving the flow of electronic health information among doctors, payers, and pharmacies."
Each year, Frost & Sullivan presents this award to the company that develops an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Our purpose is to serve the nation with the single most trusted and capable health information network, built to increase patient safety, lower costs, and ensure quality care. Since 2001, Surescripts has led the movement to turn data into actionable intelligence, and convened the Surescripts Network Alliance™ to enhance prescribing, inform care decisions, and advance the healthcare industry. Visit us at surescripts.com and follow us at twitter.com/surescripts.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
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