Allscripts' Veradigm Business Line Unveils New Solution

Allscripts Healthcare Solutions, Inc.’s (NASDAQ:MDRX) Veradigm business line has recently introduced an exclusive new software solution for specialty medication management. The new solution — AccelRx — has been created to simplify specialty medication fulfillment and lower patient waiting times.

Notably, the new solution is likely to boost Allscript’s Veradigm business segment, which is committed toward streamlining the complex healthcare system with next-generation healthcare solutions. These solutions, as a result, improve quality, efficacy and value of healthcare.

Few Words About AccelRx

The new solution has been created to streamline the requirements necessary to distribute the growing number of specialty medications that are being prescribed. The solution leverages broad industry partnerships that have been built over decades of e-prescribing and previous authorization leadership that helps providers to cut down time on phone calls and faxes. This, in turn, will drive increasing medication adherence and improve patient care.

Benefits of the Solution

Healthcare providers are likely to benefit from this solution as it will help them in the reduction of time that takes to deliver the medications to patients.

With the growing importance of specialty medications and the impact that they have on healthcare in the United States, the number of patients and providers gaining from the value of AccelRx continues to grow as well. Thus, Allscript’s Veradigm business unit is focused in the development of ongoing partnerships with key industry stakeholders that will enable the expansion of the scope of enhancement of the AccelRx solution throughout 2020 and further.

Specialty medications represents 3% of all prescriptions written in the United States, in spite of that these medications are estimated to account for up to 50% of the total sped on prescription medications in 2020.

Market Prospects

Per a report by ResearchandMarkets, the global specialty drug distribution market is estimated to grow from $1.29 billion in 2018 to $2.91 billion by end of 2025 at a CAGR of 12.3%. Therefore, it is important to note here that the introduction of the AccelRx solution is well-timed.

Some other key players in the medical products space are Stryker Corporation (NYSE:SYK) , Haemonetics Corporation (NYSE:HAE) and NuVasive, Inc. (NASDAQ:NUVA) .

Stryker is one of the world’s largest medical device companies operating in the orthopedic market. The company has three business segments: Orthopaedics, MedSurg, and Neurotechnology & Spine.

Haemonetics Corporation provides blood management solutions to customers encompassing blood and plasma collectors, hospitals and health care providers globally.

NuVasive is one of the leading global medical device companies in the spine market, focused on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine.

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