How new hazardous waste pharmaceuticals rule will impact LTC

mcknights | April 29, 2019

How new hazardous waste pharmaceuticals rule will impact LTC
In the last few years, we’ve seen legislation for the disposal of pharmaceuticals on the state and federal level grow due to our nation’s opioid crisis. One of the most recent rules we’ve seen is the Management Standards for Hazardous Waste Pharmaceuticals. In February 2019, the Environmental Protection Agency published the long-awaited rule in the Federal Register, which will help establish cost-saving, streamlined standards for handling hazardous waste pharmaceuticals. Not only will these new standards help how the healthcare sector operates, but it will better protect the health of individuals and the environment. Annually, it’s estimated up to 2,300 tons of pharmaceuticalsare disposed of down the drain. The EPA predicts that by enacting this new rule, it will reduce the amount of hazardous waste pharmaceuticals entering our waterways. This new rule will prohibit long-term care facilities from dumping pharmaceuticals down the drain, making our drinking and surface water safer and healthier.

Spotlight

As any senior executive within an organisation knows, the reduction of waste and, more importantly, the cost associated with that waste can have a major effect on any business. Whilst some waste is unavoidable, an executive can begin to implement principals to eliminate this additional “cost of poor quality” (COPQ) by considering which costs would be eliminated if every system, process and product in the business were run at maximum optimisation. In the pharmaceutical industry, it is not uncommon for such costs to range between 25 and 40 percent of total sales revenue1 and yet reducing the COPQ is not a well understood or implemented practice.

Related News

PHARMACY MARKET

MEDISCA Chooses Creatio to Speed Up Operations and Increase Market Share

MEDISCA | June 18, 2021

MEDISCA has chosen Creatio's low-code platform for process management and CRM, the company said today. MEDISCA, a global leader in pharmaceutical compounding, chose Creatio to speed up processes, improve market share among current partners, and boost revenue per employee. MEDISCA assists pharmacists by supplying equipment, devices, and high-quality ingredients. MEDISCA has a good reputation in the pharmaceutical compounding business as an innovative and entrepreneurial company with 32 years of experience. The company's top priority is to automate processes throughout its sales, service, and marketing divisions and replace at least five disparate systems. "We picked Creatio because of its unified low-code/no-code platform for process management and CRM, which will help us with our business and marketing demands," said Ekaterina Dobrokhotova, Director of Global Marketing. "We can manage the automation of our business processes with Creatio's low-code/no-code tools, giving us more control and flexibility over our operations. It also enables us to put more resources to more complicated, strategic tasks." Creatio aims to assist companies in accelerating by providing solutions to quickly and easily automate business ideas. Creatio provides a modular approach to app development and process automation to help speed up processes even more. The out-of-the-box capacity of Creatio eliminates the need to build core modules for apps from scratch. Instead, its pre-configured modules provide similar basic functionalities required for several apps and can be useful to achieve new solutions more quickly. Solutions Metrix is in charge of the system's implementation. "In the increasingly competitive and rapidly evolving Pharmaceutical compounding market, we are excited to partner with MEDISCA to help them accelerate their growth and achieve strategic business objectives through the power of Creatio's industry-leading low-code/no-code platform," said Thomas James Stewart, Executive Vice-President & Managing Partner. About Solutions Metrix Since 2001, Solutions Metrix has been implementing globally known CRM platforms such as Creatio for the North American market across various industries and businesses of all sizes. CRM consulting services from Solution Metrix focus on accelerating growth and accomplishing strategic business objectives for its partners/clients. Their team of seasoned Business & CRM Consultants will guarantee that every implementation is best practices focused and adapted to your company's specific business processes and needs, using a unique consultative approach & methodology that is ROI & user-adoption driven to assure success. About MEDISCA MEDISCA is the global leader in turnkey solutions for the pharmaceutical compounding industry and associated health care professionals. MEDISCA is committed to being a one-stop-shop for prescribers, pharmacists, and pharmacy technicians involved in personalized medicine by providing high-quality products, cutting-edge technology, industry-leading compounded support, and education through its partnership with LP3 Network. Founded in 1989, the company now has offices in Canada, the United States, and Australia, allowing it to serve the international market better.

Read More

VIEWS AND ANALYSIS

CMIC and Lokavant Collaborate to Deploy Machine Learning-Powered Clinical Trial Intelligence Platform

CMIC | June 25, 2021

CMIC Co., Ltd., a leading Japanese Contract Research Organization (CRO), and Lokavant, a leading clinical trial intelligence company, announced today that they have agreed to use Lokavant's predictive analytics capabilities to assist CMIC's clinical operations. This strategic collaboration, Lokavant Oversight, monitoring, and operational risk management platform, will be implemented throughout CMIC studies. CMIC was the first firm in Japan to provide CRO services, and the company has over 28 years of pharmaceutical development expertise in the Asia-Pacific (APAC) area. CMIC Group supports more than 80% of new drug research in Japan. CMIC and Lokavant are some of the first predictive analytics collaborations for clinical trial operations in the rapidly expanding APAC region. Trial management has gotten more complex and inefficient as the quantity of data points gathered in clinical trials has increased rapidly. The procedure for detecting and managing risks in clinical trials is still largely manual, and it is often too delayed to prevent severe consequences. The collaboration between CMIC and Lokavant goes beyond conventional risk-based monitoring by implementing an end-to-end solution backed by Lokavant's past operational data and CMIC's data. This will enable CMIC to perform next-generation risk-based monitoring, which will be capable of predicting data quality problems, research schedule delays, and budget overruns. CMIC clinical teams will be proactive, rather than reactive, in reducing problems and eventually enhancing trial results by using historical data to predict future issues. Lokavant and CMIC will also collaborate to create data-driven metrics to track study success across previous and current CMIC trials, delivering critical insights to CMIC's 1,200+ clinical trial operators. About Lokavant Lokavant's data-driven solutions, including its flagship product, Lokavant Oversight, a tech-enabled risk-based monitoring solution, and Lokavant Insight, a clinical operations benchmarking tool, allow next-generation clinical trials. Lokavant Oversight collects and distributes real-time data from various trial data sources, anticipates problems throughout clinical development to reduce trial risks, and empowers monitoring teams by displaying critical research data. Lokavant Insight enables clinical teams to assess clinical trial performance and analyze critical trial success and failure indicators. About CMIC Group CMIC Group was established in 1992 as Japan's first Contract Research Organization (CRO). CMIC Group is now Japan's biggest clinical CRO with a worldwide presence, offering complete services in drug development, clinical site management, clinical to commercial GMP manufacturing, regulatory consultancy, and contract sales and marketing solutions. CMIC Group assists pharmaceutical, biotech, and medical device firms in entering the Japanese market, conducting clinical trials in Asia, and bridging drug development and manufacturing requirements in the United States, Europe, Japan, and the rest of Asia. CMIC Group employs approximately 7,000 people and operates from 25 locations across the globe.

Read More

BUSINESS INSIGHTS

COEUS Holdings Announces Partnership With Insight Consulting Group (ICG) to Address the Healthcare Industry’s Changing Research and Insight Landscape

COEUS Holdings | September 18, 2021

COEUS Holdings, LLC, and its subsidiaries, together a leading boutique life sciences technology and consulting firm, today announced that it has entered a partnership with Insight Consulting Group (ICG). The partnership seeks to bridge the gaps between payers, healthcare providers, and consumers by developing insights and strategies that are reflective of today’s integrated needs. The partnership will produce and apply comprehensive insights to inform strategy that could advance access to more medications and help to address the unmet needs of Physicians and Patients. While ICG’s expertise, proprietary processes, and deliverables will be leveraged by various organizations that are part of COEUS Holdings’ group of subsidiaries, Mirador Global, led Chuck Peipher, Managing Partner, will be most regularly engaged. Mirador delivers consulting expertise in early commercial development for global and domestic drug commercialization and market access efforts. This partnership takes direct aim at the delivery of game-changing insights and market research that will take shape in a variety of touchpoints through the commercial development process. Together, we’ll be able to work more quickly and effectively through this partnership given the common knowledge of the social sciences, brand development processes, and a commitment to our clients who are focused on serving the needs of Physicians and Patients. - Chris Schnaars, Principal at Insight Consulting Group. Ultimately, all stakeholders in the healthcare ecosystem (patients, caregivers, HCPs, influencers, extenders, payers, and provider organizations) must work together to create an optimal care environment. Through shared resources that deliver deeper research and insights, the ICG and COEUS partnership will facilitate a more comprehensive and robust understanding of how healthcare clients can meet the needs and achieve ideal outcomes for all stakeholders. The ICG and COEUS partnership will enable clients to realize the benefits of working with one team, with end-to-end research and payer capabilities. It’s the combination of insights being leveraged simultaneously during the design and development of marketing and payer strategies that will deliver incremental value to the industry. About ICG ICG inspires deeper healthcare understanding by bringing its clients’ most important interactions into research. Understanding human needs and translating them into behavioral insights is at the forefront of the design of our deliverables. ICG brings high proficiency and experience to analysis of insights, raising the bar of confident decision making and commercial impact. ICG is focused on meeting people where they are (not where we want them to be) and understanding what true core human and emotional needs can be addressed to influence behavior and impact outcomes. About Mirador Global LP Founded in 2016, Mirador Global LP is an international consulting practice that specializes in strategic global commercial development for specialty diseases, including rare diseases, oncology/​immuno-oncology, immunology, and CNS disorders. Mirador Global client engagements are developed bringing together Global Marketing, Analytics, Market Access, HEOR, Medical Affairs, R&D, and other functions delivered by a team of pharmaceutical industry experts. The company provides its clients with a bio-pharma line of sight unlike any other unique to Mirador Global. About COEUS Holdings The COEUS Holdings teams are singularly driven to optimize market access and commercialization infrastructure for pharmaceutical products. COEUS is a multi-specialty, commercially aligned consultancy, offering a comprehensive suite of informed solutions for successful engagement with organized customers, providers, and patients. Leveraging years of collective real-world market expertise, we offer unique perspectives into clinical and business opportunities to support your brands’ position in the marketplace. COEUS mission is to ensure patient access beyond the prescription. We focus on becoming your ally in navigating the healthcare universe. COEUS teams advance thought leadership, technology solutions, and communication initiatives to ensure your brands’ lifelong success. Together, we strive to redefine access solutions in the evolving domestic and global managed care markets.

Read More

Spotlight

As any senior executive within an organisation knows, the reduction of waste and, more importantly, the cost associated with that waste can have a major effect on any business. Whilst some waste is unavoidable, an executive can begin to implement principals to eliminate this additional “cost of poor quality” (COPQ) by considering which costs would be eliminated if every system, process and product in the business were run at maximum optimisation. In the pharmaceutical industry, it is not uncommon for such costs to range between 25 and 40 percent of total sales revenue1 and yet reducing the COPQ is not a well understood or implemented practice.