OmniSYS acquires Rx-Net and Strand Clinical Technologies

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OmniSYS acquires Rx-Net and Strand Clinical Technologies

By Sandra Levy - 09/05/2019
OmniSYS is in acquisition mode, with two recent buys under its belt. The Dallas, Texas-based company has acquired Rx-NEt and its ProfitMax price management solution, and it acquired Strand Clinical Technologies.

ProfitMax provides a fully automated, single interface, multi-location prescription price management solution for retail pharmacies.

By taking into account customer-specific pricing goals, third-party reimbursement and a combination of market-based data sources, ProfitMax automatically helps set and adjust a pharmacy’s usual and customary pricing so that they can maximize reimbursement while maintaining competitive and profitable prices for cash-paying customers.

“Pharmacies are under extreme pressure to improve their financial performance. Although cash customers typically make up less than 10% percent of a pharmacy’s prescriptions, they can account for 25% or more of a pharmacy’s margins. Using market intelligence and proven, proprietary analytics, ProfitMax not only helps automate the price management process, but it also improves a pharmacy’s performance by ensuring that their drug prices are both competitive and profitable,” OmniSYS CEO John King said.

King added, “Cash pricing is one of a limited number of variables that a pharmacy can control, and it represents a significant opportunity for growth in the pharmacy space. Rx-Net’s proven ability to drive value to both pharmacies and their customers through ProfitMax is why we are so excited to welcome them to the OmniSYS family.”

Strand helps retail pharmacists launch and support clinical services within their community. Their intervention, documentation and education platform supports pharmacies across the country in providing preventative care services and engaging patients with chronic diseases. From clinical billing and education, to creating and sending pharmacist eCare plans, Strand helps pharmacists grow their business by enabling pharmacies to become health hubs for their communities.

“The pharmacy’s role in care delivery continues to expand. With a growing population of people with age-related and chronic health conditions combined with the desire for convenient and accessible care, community pharmacists are uniquely positioned to provide preventative care and low-acuity services traditionally performed in a doctor’s office,” said King, adding “Strand shares our passion for leveraging the pharmacy setting to improve patient outcomes. Their state-of-the-art technology is designed to support clinical workflow in the pharmacy both now and in the future.”

“Recognizing the tremendous potential of community pharmacists as clinical service providers, we built a platform that empowers pharmacies to expand and grow their business,” Strand co-founder and chief innovation officer David Pope said. “OmniSYS not only shares this vision, but has the market presence and resources available to ensure that our vision becomes reality.”

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