EnlivenHealth® and Good Neighbor Pharmacy® Seek to Empower Independent Pharmacies with New Clinical Scope of Practice and Reimbursement Solution

Rhea-AI Summary

EnlivenHealth, a division of Omnicell (OMCL), has launched a new Scope of Practice and Reimbursement Snapshot solution for Good Neighbor Pharmacy members. This innovative tool provides critical information on clinical services and reimbursement tailored to each state, empowering independent pharmacies to expand their clinical offerings and improve patient care.

The solution offers easy access to up-to-date information on approved clinical services, reimbursement activities, and medical billing codes. It aims to simplify the complex landscape of clinical services and billing, potentially driving operational efficiency and revenue growth for pharmacies. Good Neighbor Pharmacy members can access the solution through their AB Solutions Portal.

Positive

• Launch of a new Scope of Practice and Reimbursement Snapshot solution for Good Neighbor Pharmacy members
• Potential for increased revenue and operational efficiency for independent pharmacies
• Expansion of clinical services offerings for pharmacies
• Collaboration with Good Neighbor Pharmacy, a national franchise for independent pharmacies

Negative

• None.

Insights

Market Research Analyst

EnlivenHealth's new Scope of Practice and Reimbursement Snapshot solution for Good Neighbor Pharmacy members represents a significant development in the independent pharmacy sector. This tool addresses a important need in the market by simplifying the complex landscape of clinical services and billing for pharmacists.

The solution's potential impact on the pharmacy industry is substantial:

• It could accelerate the expansion of clinical services in independent pharmacies, potentially increasing their revenue streams and competitiveness against larger chains.
• By providing state-specific information, it helps pharmacies navigate regulatory complexities, which has been a significant barrier to service expansion.
• The reimbursement information could lead to improved financial performance for independent pharmacies, a sector that has faced economic pressures in recent years.

However, the true test will be in its adoption and implementation. If successful, this could spark a shift in the pharmacy business model, moving further away from traditional dispensing roles and more towards clinical services. This aligns with broader healthcare trends emphasizing preventative care and community-based health services.

For Omnicell, EnlivenHealth's parent company, this product could strengthen its market position in pharmacy technology solutions. It's a strategic move that could lead to increased customer loyalty and potentially higher revenues if it drives adoption of other EnlivenHealth products like their Amplicare Clinical Solution and Medical Billing solutions.

Financial Analyst

From a financial perspective, this new solution from EnlivenHealth and Good Neighbor Pharmacy presents an intriguing opportunity for the independent pharmacy sector. Here's why it matters:

• Revenue Diversification: By facilitating the expansion of clinical services, pharmacies can potentially increase their revenue streams beyond traditional prescription sales. This is important in an era of shrinking margins on drug sales.
• Operational Efficiency: The streamlined access to regulatory and reimbursement information could lead to cost savings in terms of time and resources spent on compliance and billing processes.
• Market Competitiveness: This tool could help level the playing field between independent pharmacies and larger chains, potentially improving the financial health of the independent pharmacy sector.

For Omnicell, this move could translate into increased revenue from its EnlivenHealth division. If the solution proves popular, it could drive adoption of EnlivenHealth's other products, creating a positive feedback loop for sales.

However, investors should note that the financial impact may not be immediate. The success of this solution depends on its adoption rate and the ability of pharmacies to effectively monetize expanded clinical services. It's a long-term play that could reshape Omnicell's revenue model over time, potentially shifting it towards more recurring, software-based revenue.

Good Neighbor Pharmacy Launches EnlivenHealth’s New Scope of Practice and Reimbursement Snapshot at ThoughtSpot Designed to Drive Clinical Service Expansion, Reimbursement and Patient Care in Community Pharmacy

FORT WORTH, Texas--(BUSINESS WIRE)-- EnlivenHealth, a division of Omnicell, Inc., is pleased to announce the release of a first-of-a-kind Scope of Practice and Reimbursement Snapshot solution for members of Good Neighbor Pharmacy, a national franchise for independent pharmacies offered through Cencora. This new resource is designed to empower Good Neighbor Pharmacy members by providing critical information on clinical services and reimbursement information tailored to each state.

EnlivenHealth’s Scope of Practice and Reimbursement Snapshot is designed to inform and grow clinical service expansion within independent pharmacy communities. By utilizing the scope of practice feature, pharmacists are able to quickly and easily access up-to-date information regarding the clinical services they can provide in their state. The reimbursement section helps summarize reimbursement activities for approved clinical services and provides users with information on the pharmacy landscape, prerequisites for billing, details on medical billing codes, and more. Good Neighbor Pharmacy members can easily access the solution through their AB Solutions Portal.

“We are excited to collaborate with Good Neighbor Pharmacy on this significant initiative,” said Martha Thorne, Senior Vice President and General Manager of EnlivenHealth. “Our Scope of Practice and Reimbursement Snapshot is designed to simplify the complex landscape of clinical services and billing and aims to empower pharmacies to deliver enhanced patient care. After providing an understanding of what services a pharmacy can provide, EnlivenHealth’s Amplicare Clinical Solution and Medical Billing solutions can help pharmacies operationalize those services by seamlessly documenting and billing – which is intended to drive operational efficiency and revenue growth.”

“This collaboration with EnlivenHealth underscores our commitment to supporting our member pharmacies in expanding their clinical capabilities,” said Jenni Zilka, SVP, Community & Specialty Pharmacy and President, Good Neighbor Pharmacy. “This new solution can provide vital guidance while enabling pharmacies to navigate state-specific regulations and reimbursement processes with confidence. We are thrilled about the positive impact this solution can have on patient care and pharmacy profitability.”

About EnlivenHealth®

EnlivenHealth, a division of Omnicell, Inc. enables pharmacies with connected patient engagement, clinical, and financial workflows designed to result in an elevated patient-pharmacy experience, exceptional patient care, and enhanced financial performance. We advocate for a world where pharmacy teams stand at the forefront of healthcare, empowering them to practice at the top of their license, and aiding them with their commitment to patient care, collaboration, and continuous learning.

To learn more, visit EnlivenHealth.co.

About Omnicell

Since 1992, Omnicell has been committed to transforming pharmacy care through outcomes-centric innovation designed to optimize clinical and business outcomes across all settings of care. Through a comprehensive portfolio of robotics, smart devices, software, and expert services, Omnicell solutions are helping healthcare facilities worldwide to uncover cost savings, improve labor efficiency, establish new revenue streams, enhance supply chain control, support compliance, and move closer to the industry-defined vision of the Autonomous Pharmacy. To learn more, visit omnicell.com.

OMNICELL and ENLIVENHEALTH are registered trademarks of Omnicell, Inc. or one of its subsidiaries.

Forward-Looking Statements

Certain statements contained in this press release relate to the expected benefits and objectives of EnlivenHealth’s products and services, including EnlivenHealth’s Scope of Practice and Reimbursement Snapshot, Amplicare Clinical Solution and MedBill (and any implied financial impact in connection with the foregoing). These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, statements including the words “expect,” “intend,” “may,” “will,” “should,” “would,” “could,” “plan,” “potential,” “anticipate,” “believe,” “forecast,” “guidance,” “outlook,” “goals,” “target,” “estimate,” “seek,” “predict,” “project,” and similar expressions are intended to identify forward-looking statements. Actual results and other events may differ significantly from those contemplated by forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties many of which are beyond our control. These risks and uncertainties include, among other things, (i) Omnicell’s ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (ii) risks related to Omnicell’s investments in new business strategies or initiatives, (iii) Omnicell’s ability to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, (iv) reduction in demand in the capital equipment market or reduction in the demand for or adoption of our solutions, systems, or services, (v) risks related to failing to maintain expected service levels when providing our Advanced Services or retaining our Advanced Services customers, (vi) unfavorable general economic and market conditions, including the impact and duration of inflationary pressures, (vii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market, (viii) any disruption in Omnicell’s information technology systems and breaches of data security or cyber-attacks on its systems or solutions, including the previously disclosed ransomware incident and any potential adverse legal, reputational, and financial effects that may result from it and/or additional cybersecurity incidents, as well as the effectiveness of business continuity plans during any future cybersecurity incidents, (ix) Omnicell’s ability to protect its intellectual property, (x) risks presented by government regulations, legislative changes, fraud and anti-kickback statues, and other legal obligations related to healthcare, privacy, data protection, and information security, exposure to indemnification obligations or other liabilities, and (xi) other risks and uncertainties further described in the “Risk Factors” section of Omnicell’s most recent Annual Report on Form 10-K, as well as in Omnicell’s other reports filed with or furnished to the United States Securities and Exchange Commission, available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. Omnicell assumes no obligation to update any such statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, new information, future events, or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240801396112/en/

Rick Cedrone

Sr Director, Marketing at EnlivenHealth

rick.cedrone@omnicell.com

Source: Omnicell, Inc.

FAQ

What is the new solution launched by EnlivenHealth for Good Neighbor Pharmacy members?

EnlivenHealth has launched a Scope of Practice and Reimbursement Snapshot solution for Good Neighbor Pharmacy members, providing critical information on clinical services and reimbursement tailored to each state.

How can the new EnlivenHealth solution benefit independent pharmacies?

The solution can help independent pharmacies expand clinical services, improve patient care, navigate state-specific regulations, and potentially increase revenue and operational efficiency.

Where can Good Neighbor Pharmacy members access the new EnlivenHealth solution?

Good Neighbor Pharmacy members can access the Scope of Practice and Reimbursement Snapshot solution through their AB Solutions Portal.

What information does the EnlivenHealth Scope of Practice and Reimbursement Snapshot provide?

The solution provides up-to-date information on approved clinical services, reimbursement activities, pharmacy landscape, prerequisites for billing, and medical billing codes specific to each state.