Omnicell to Showcase Advanced Services Designed to Deliver Enhanced Medication Management Outcomes at ASHP Midyear 2022

Rhea-AI Summary

Omnicell is set to showcase its Advanced Services at the ASHP Midyear Clinical Meeting from December 5-8, 2022, in Las Vegas. These services include IV Compounding, Central Pharmacy Dispensing, Inventory Optimization, Retail Pharmacy, and Specialty Pharmacy Services, all aimed at enhancing medication management efficiency and patient safety. The company's strategy focuses on integrating technology to improve clinical outcomes and create economic value for health systems. Omnicell's efforts could potentially lead to improved operational efficiency and reduced medication errors across healthcare settings.

Positive

• Showcasing Advanced Services at ASHP Midyear may enhance company visibility.
• Services aim to improve patient safety and operational efficiency, potentially driving future revenue.
• Advanced Services leverage technology and analytics, aligning with industry trends to optimize pharmacy care.

Negative

• Potential risks from reliance on new technology and analytics may present challenges during implementation.
• Continued competition in the medication management sector could impact market share.

Advanced Services combine innovative technology, expertise, and intelligence intended to support business and clinical outcomes across all settings of care

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Omnicell, Inc. (Nasdaq: OMCL) (“Omnicell” or the “Company”), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, today announced that it will showcase the Company’s Advanced Services at this year’s American Society of Health-System Pharmacists (ASHP) Midyear 2022 Clinical Meeting and Exhibition, to be held December 5-8, 2022 in Las Vegas.

The ASHP Foundation Pharmacy Forecast 2022 recommends that practice leaders integrate the use of technology and data analytics to develop patient care models that optimize patient health outcomes.¹ Omnicell’s Advanced Services combine technology, expertise, and intelligence, powered by a connected intelligent infrastructure, and are expected to enhance business and clinical outcomes across all settings of care, as part of the Company’s broader strategy to transform pharmacy care through a set of services built on a single cloud platform.

“Pharmacy represents one of the largest portions of healthcare spend and touches every patient in every setting of care.² However, medication management is often riddled with problems, including disconnected systems and labor shortages, that may negatively impact outcomes,” said Scott Seidelmann, executive vice president and chief commercial officer at Omnicell. “Our Advanced Services are designed to not only improve safety and patient care, but also to deliver tangible economic outcomes and a rapid return on investment for our customers, while keeping the patient at the center across all settings of care.”

Omnicell will showcase its full portfolio of Advanced Services in Booth #1213 during ASHP Midyear, including:

IV Compounding Service

Combining next generation IV robotics, clinical data, and remote and onsite experts in an effort to optimize IV compounding operations, this service is designed to enhance patient safety through improved IV compounding accuracy, sterility, and supply chain control, while reducing 503B outsourcing expenses and medication waste.

Central Pharmacy Dispensing Service

Using advanced central pharmacy robotics, dispensing optimization tools, and remote and onsite experts meant to automate and optimize medication dispensing, this service is intended to help enhance patient safety and dispensing accuracy, while reducing medication expirations, and optimizing pharmacy labor and workflows.

Inventory Optimization Service

Inventory optimization should help health systems improve medication management efficiency by reducing medication waste, expirations, stockouts, and shortages. This comprehensive service combines advanced software, robust benchmarking, predictive and prescriptive analytics, and clinical experts to enable identification and execution of potential inventory optimization opportunities.

Retail Pharmacy Services

These services automate financial activities and deliver digital omnichannel patient engagement solutions in an effort to transform clinical and business results for retail pharmacies. Retail pharmacies are expected to realize improved operational efficiency, increased profitability and prescription retention, and improved patient medication adherence.

Specialty Pharmacy Services

Combining technology and deep industry expertise, Omnicell is empowering health systems to set up, manage, and optimize an in-house specialty pharmacy through a value-based model. These services are designed to help health systems maximize script capture and revenue associated with specialty medications, increase patient access to Limited Distribution Drugs, and improve patient compliance, adherence, and outcomes.

Omnicell is also supporting two educational opportunities at ASHP Midyear. On Monday, Dec. 5, 2022 from 11:30 a.m. to 1:00 p.m. PT, Omnicell will be sponsoring a CE-accredited symposium presented by the Institute for Safe Medication Practices (ISMP) titled Optimizing Sterile Compounding Best Practices: Leveraging Technologies and Removing Barriers to Improve Safety.

On Tuesday, Dec. 6, 2022 from 11:30 a.m. to 12:30 p.m. PT, Omnicell will lead a panel discussion at the Promotional Theater (Booth #118) in the Exhibit Hall. During this session, titled Advancing Adherence and Clinical Outcomes in Specialty Pharmacy, thought leaders from Omnicell and Bausch Health will share best practices to support optimizing patient outcomes through improved medication adherence in specialty pharmacy programs.

To learn more about Omnicell’s Advanced Services offerings, visit www.omnicell.com.

About Omnicell

Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Healthcare facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. Institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.

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

¹Am J Health-Syst Pharm, Volume 79, Number 2, Jan 15, 2022

² https://www.iqvia.com/insights/the-iqvia-institute/reports/the-use-of-medicines-in-the-us-2022

Forward-Looking Statements

To the extent any statements contained in this press release deal with information that is not historical, 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. Forward-looking statements are subject to the occurrence of many events outside Omnicell’s control. Such statements include, but are not limited to planned new products and services, enhancements to existing products and services, and the related objectives and expected benefits (and any implied financial impact), and statements about Omnicell’s strategy, plans, objectives, goals, and vision. 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. These risks and uncertainties include, among other things, (i) risks related to the ongoing COVID-19 pandemic (including new variants of the virus), (ii) Omnicell’s ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (iii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market, (iv) unfavorable general economic and market conditions, including the impact and duration of inflationary pressures, (v) reduction in demand in the capital equipment market or reduction in the demand for or adoption of our solutions, systems, or services, (vi) delays in installations of our medication management solutions or our more complex medication packaging systems, (vii) changes to the 340B Program, (viii) risks related to Omnicell’s investments in new business strategies or initiatives, including its transition to selling more products and services on a subscription basis, (ix) risks presented by government regulations, legislative changes, fraud and anti-kickback statues, products liability claims, the outcome of legal proceedings, and other legal obligations related to healthcare, privacy, data protection, and information security, including any potential governmental investigations and enforcement actions, litigation, fines and penalties, exposure to indemnification obligations or other liabilities, and adverse publicity as a result of the previously disclosed ransomware incident, (x) 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, (xi) Omnicell’s ability to protect its intellectual property, (xii) Omnicell’s ability to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, (xiii) Omnicell’s ability to recruit and retain skilled and motivated personnel, (xiv) risks related to the availability and sources of raw materials and components or price fluctuations, shortages, or interruptions of supply, (xv) Omnicell’s dependence on a limited number of suppliers for certain components, equipment, and raw materials, as well as technologies provided by third-party vendors, and (xvi) 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 (“SEC”), 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.

OMCL-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005277/en/

Carol Kimura

Omnicell

carol.kimura@omnicell.com

(408) 833-4379

Source: Omnicell, Inc.

FAQ

What are Omnicell's Advanced Services being showcased at ASHP Midyear 2022?

Omnicell's Advanced Services include IV Compounding, Central Pharmacy Dispensing, Inventory Optimization, Retail Pharmacy, and Specialty Pharmacy Services.

When is Omnicell showcasing its services at the ASHP Midyear Clinical Meeting?

Omnicell will showcase its services from December 5-8, 2022.

Where will the ASHP Midyear Clinical Meeting be held?

The ASHP Midyear Clinical Meeting will take place in Las Vegas.

What is the purpose of Omnicell's Advanced Services?

The purpose is to enhance medication management, improve patient safety, and deliver economic value across healthcare settings.

How does Omnicell plan to improve pharmacy care?

Omnicell plans to improve pharmacy care by integrating technology and data analytics to optimize patient health outcomes.