HDS Launches Script Scan, A New Analytics Platform Designed To Help Pharmacies Manage Business Performance And Optimize Script-Level Profitability

TechDogs-"HDS Launches Script Scan, A New Analytics Platform Designed To Help Pharmacies Manage Business Performance And Optimize Script-Level Profitability"

HDS’s newest product is a SaaS-based analytics and workflow offering for specialty and retail pharmacies focused on using data to drive better business performance
With Script Scan, pharmacies are able to compare acquisition costs directly against reimbursement data while ensuring pricing arrangements from various PBMs and direct contracts are adjudicated at the correct rates
Script Scan has the power to highlight script-level margin optimization opportunities and ensure proper documentation is captured for pharmacy compliance

COLUMBUS, Ohio--(BUSINESS WIRE)--HDS today announced their newest product offering, Script Scan. Script Scan is the latest product to join the Spotlight platform and represents the first product from HDS to focus solely on serving pharmacies. Over the last five years, pharmacy operators have been faced with significant margin compression, limited staff resources, and fierce market competition creating an environment where every dollar of profit matters more than ever.

“I spent the last 8 years of my career prior to HDS working in the specialty pharmacy industry and experienced many of these operational challenges firsthand,” said HDS CEO, Ron Hamm. “Script Scan represents the culmination of nearly a year of market research and product development that we believe will empower pharmacies with truly actionable information to improve compliance and optimize every dollar of margin per script.”

Script Scan will offer pharmacies daily access to a comprehensive dashboard and reporting suite leveraging next generation data visualization software allowing substantial flexibility and drill-down capabilities. With dynamic filtering, customizable KPIs, and department level views, pharmacy operators can better understand all aspects of their business performance. Data visualization will be available to support views across pharmacy operations, account management, and business development functions.

Beyond dashboards and reporting, Script Scan leverages over 40 rules-based algorithms to connect pharmacy acquisition costs and fee schedules highlighting script-level margin improvement opportunities when claims adjudicate sub-optimally. As soon as claims information is processed, Script Scan organizes all flagged scripts into an intuitive workflow to significantly improve the tracking, assignment, and issue resolution process for internal pharmacy teams.

Along with the commercial launch of Script Scan, HDS has taken several actions to further connect with the broader pharmacy market, including becoming a corporate member of the well-respected National Association of Specialty Pharmacy (NASP). Additionally, HDS’s VP of Business Development, Gary Conte, has joined the NASP Technology Committee leading the organization’s efforts to further engage with pharmacy market leaders.

Sheila Arquette, NASP President and CEO, commented that, “The National Association of Specialty Pharmacy is thrilled to welcome HDS to corporate membership. We are excited for the opportunity this partnership provides – supporting their ongoing commitment to improved outcomes, costs savings, accuracy and compliance.”

Gary Conte, VP of Business Development at HDS and a veteran operator in the specialty pharmacy industry, further stated that, “we believe our solutions have the ability to offer meaningful support to many pharmacy organizations facing an extremely challenging business environment. Our team’s experience building complex solutions to help payers manage their pharmacy benefit has really primed us to expand our services to support pharmacies in a meaningful way.”

Script Scan is available as a SaaS-based product offering for specialty and retail pharmacies located anywhere in the United States.

A detailed overview of Script Scan is available on the HDS website. Interested clients are encouraged to schedule an introductory call and product demo by contacting HDS directly at https://hds-rx.com/contact-hds/.

About HealthPlan Data Solutions

HealthPlan Data Solutions (HDS) is an industry leading pharmacy analytics company that specializes in providing pharmacy payment integrity solutions, campaign management, and pharmacy claims insights. HDS’s technology platform, Spotlight, leverages over 500 proprietary claim scanning algorithms and AI, matched with clinical expertise to provide actionable pharmacy benefit intelligence.

Founded by a team of pharmacists and IT professionals, HDS helps its customers identify, fix, and continuously monitor prescription claims data to maximize the value of their pharmacy benefit plans.

Contacts

Jeff Baldetti, Vice President, Marketing and Products jeff.baldetti@hds-rx.com

First published on Wed, Sep 11, 2024

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Pharmacy Analytics Script Scan Pharmacy Data Pharmacy Compliance Specialty Pharmacy Retail Pharmacy

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HDS Launches Script Scan, A New Analytics Platform Designed To Help Pharmacies Manage Business Performance And Optimize Script-Level Profitability

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