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| Emerlyn Helps Pharmacies Optimize Product Purchases from Vendors in Real-Time Environment. |
April 12, 2006 -- Emerlyn Technology, LLC has developed real-time purchasing software called SureCost that aids pharmacies by optimizing drug product selection and analyzing offerings from vendors. SureCost, which provides pharmacies with cost savings, time savings and compliance for their drug product purchases, is showing pharmacies more than a three percent reduction of their total annualized drug purchases.
"Pharmacies are constantly challenged to manage their business more efficiently, and their purchases represent their largest costs," Calvin Hunsicker, R. Ph., founder of New Hampshire-based Emerlyn Technology, LLC and creator of the patent-pending SureCost e-procurement system, which had a soft launch in 2004 and in 2005 became available throughout the country.
"The purchasing environment has become increasingly difficult to manage effectively; with more generics, tiered rebate programs, volume discounts and other factors to evaluate, SureCost is designed to make sense of what products and source are best for your pharmacy," Hunsicker said. "We developed SureCost to place purchasing management back to the pharmacy with affordable control of real-time information that saves money, simplifies purchasing and drives compliance."
SureCost evaluates information in detail, selecting and ordering the optimal product based on both dynamic volume and pricing data using custom pharmacy parameters. In addition, other criteria are evaluated, including rebates, contract pricing, market share, cost, Medicaid coverage and more. SureCost is a unique service that evaluates product from the pharmacy's perspective at the time of purchase and without bias.
"We designed this product so that any pharmacy -- no matter how big or small -- can afford to take advantage of this tool," Hunsicker said. "The savings that are being realized are more than we imagined - in most cases our customers are experiencing savings of more than 10 times return on their investment."
Hunsicker developed SureCost after nearly two decades in the pharmacy business. A second-generation pharmacist, Hunsicker has been an owner of retail and long-term care pharmacy chains as well as held positions in executive management in pharmacy purchasing for a long-term care pharmacy chain. With that experience, Hunsicker envisioned a program that would act as a single source for purchasing, reporting, cost accounting, contract management and market share tracking. From that, SureCost was born.
According to Emerlyn Technology, customers that have implemented SureCost already are showing cost savings of over three percent. "SureCost's impressive software program has made our multiple suppliers marketplace competitive," said Ed McGee, co-owner of Family Pharmacy in New Hampshire, and president of the New Hampshire Independent Pharmacy Association.
"Not only are we improving our bottom line, but SureCost has enabled us to structure a compliance program with our primary wholesaler," McGee said. "SureCost's reports act like a watchdog for us, guarding against expensive product switches, and, although the software will always point to the lowest cost item, we retain complete autonomy in final product selection."
SureCost also provides pharmacies with a summary of pricing discrepancies, daily contract changes, formulary changes and recommended changes to formulary overrides. Additionally, the software considers Medicaid formularies, assuring that the optimal item is selected and reimbursable for the pharmacy.
"SureCost offers a neutral and systematic method for translating e-procurement business requirements and market dynamics for the pharmacy industry into a very affordable, Web based IT solution," Hunsicker said.
Emerlyn Technology, based in New Hampshire, was founded by second generation pharmacist Calvin Hunsicker. The Emerlyn Technology mission is to provide its customers with products that improve efficiency and save money. The company's patent-pending software, SureCost® , is an e-procurement software that evaluates information daily to help pharmacists make optimal drug product purchases.
For Information Contact: Ron Tamol
(888)-363-7596 x201
rtamol@emerlyn.com