Libertyville, IL and Milwaukee, WI – November 17, 2020 – Pharma Logistics and ConsortiEX, market leaders in serving the needs of pharmacies and hospitals, today announced the launch of their Strategic Collaboration Program. Their new program is focused on improving inventory efficiency, reducing cost, improving patient safety, managing cash flow and compliance for their customers.
The program’s immediate and future benefits to customers include:
Proven Cost Reduction and Efficiency:
- ConsortiEX’s DSCSA Compliance as a Service delivers the lowest real cost of compliance by taking responsibility for the bulk of the work required to be compliant
- Pharma Logistics’ Reverse Distribution Service accelerates the return of credits generated and minimizes the labor costs required to manage all of the returns processes for pharmacies.
- Customers working with both ConsortiEX and Pharma Logistics will be able to efficiently apply funds generated through Pharma Logistics services to pay for ConsortiEX services.
Improved Patient Safety and Compliance:
- ConsortiEX’s services provide the most cost-efficient and effective detection of suspect drugs to ensure these do not reach patients — the central goal of the Drug Supply Chain Security Act of 2013.
- Pharma Logistics services ensure the complex compliance demands for returning saleable, unsaleable and recalled drugs are met – while accelerating cash flow and increasing credit recovery compared to any alternative.
In future phases of the program, the two market leaders plan to explore ways to help mutual customers more efficiently manage drug recalls, optimize drug inventory levels and minimize waste by rapidly identifying items that are approaching their expiration dates.
“The synergies between Pharma Logistics and ConsortiEX will deliver significant new value to the leading healthcare systems across the country,” said Pharma Logistics founder and CEO Michael Zaccaro. “The opportunity to utilize our platforms to deliver actionable supply chain improvements is truly exciting.”
Neal Long, ConsortiEX CEO and founder added, “ConsortiEX and Pharma Logistics are both laser-focused on delivering exceptional value and customer service excellence. Our mutual customers brought us together and they were right! We both provide service level guarantees that back up our commitments. As we move forward, the opportunity to lower drug and compliance costs can make a significant difference for our customers.”
About Pharma Logistics
Founded in 1996, Pharma Logistics is the trusted, proven industry leader in reverse pharmaceutical distribution services, including Rapid Credit, Box and Ship, Onsite and Drug Take-Back programs. Pharma Logistics’ clients include hospital pharmacies, the Department of Defense and Veterans Health Administration, independent pharmacies, pharmacy chains and physicians’ offices. For more information about Pharma Logistics, visit the website at pharmalogistics.com.
ConsortiEX is a health care pharmacy IT company providing software and services to manage the ordering, production, distribution, and tracking of pharmaceuticals… from Pedigree to Patient®.
DSCSA Compliance as a Service removes the compliance burden from Health System Pharmacies with comprehensive data collection and traceability services. Assure-Trak® integrates Batch and Dynamic Patient Specific compounding, tracking ingredients through production to patient administration. For more information about ConsortiEX, visit www.consortiex.com.