Premier CognitiveRx

CognitiveRx is a pharmacy supply chain tool offered by Premier. According to the vendor, this solution utilizes integrated artificial intelligence and machine learning to provide actionable insights for pharmacies. The product aims to uncover value, enable preparedness, and generate efficiency in the pharmacy supply chain. It is designed to cater to a wide range of businesses, including pharmacies, pharmacy supply chain management, pharmacy purchasing teams, pharmacy clinical teams, and healthcare systems.

Key Features

Drug Disruption Manager: According to the vendor, CognitiveRx's Drug Disruption Manager helps pharmacies be resilient and prepared for drug shortages. It utilizes the proven Drug Shortage Alert model to identify drugs at risk for shortage an average of 128 days before an official announcement. By sourcing clinically appropriate alternative items ahead of other health systems, pharmacies can create proactive contingency plans.

Pricing Increase Predictions: The vendor states that CognitiveRx leverages data science and machine learning to predict drug price increases. This feature helps pharmacy teams review price increase predictions ahead of time, enabling smart advanced-buy purchase decisions.

Drug Shortage Alerts: According to the vendor, CognitiveRx provides Drug Shortage Alerts to prepare pharmacies and clinical teams ahead of a drug shortage. It utilizes over 30 different attributes to identify drugs with an elevated shortage risk.

Margin Analysis: The CognitiveRx Margin Modeler enables quick and efficient margin analysis for pharmacies, as per the vendor. This tool automatically pulls and adjusts all wholesaler purchase history to HCPCS-level volumes and cost, allowing for a final margin summary compared to defined reimbursement rules.

Inventory Optimization: The vendor claims that CognitiveRx's Inventory Optimization feature helps pharmacies optimize their inventory management. Utilizing advanced algorithms and machine learning, this tool aims to maintain optimal stock levels, reduce waste, and improve operational efficiency.

Demand Forecasting: According to the vendor, CognitiveRx's Demand Forecasting feature improves forecasting accuracy and inventory planning. By analyzing historical data and utilizing predictive analytics, this tool provides insights into future demand trends, enabling pharmacies to optimize inventory levels and ensure product availability.

Supply Chain Visibility: The vendor states that CognitiveRx's Supply Chain Visibility feature provides real-time visibility into the pharmacy supply chain. It allows pharmacies to track and monitor the movement of medications and supplies from manufacturers to pharmacies, ensuring timely delivery and reducing the risk of stockouts.

Order Automation: According to the vendor, CognitiveRx's Order Automation feature streamlines the pharmacy's ordering process. This tool automates the ordering of medications and supplies based on predefined rules and inventory levels, reducing manual effort and optimizing inventory management.

Vendor Performance Analytics: The vendor claims that CognitiveRx's Vendor Performance Analytics feature helps evaluate vendor performance and make informed decisions. This tool provides comprehensive analytics on vendor performance, including on-time delivery, product quality, and pricing, allowing pharmacies to optimize their supplier relationships.

Clinical Decision Support: According to the vendor, CognitiveRx's Clinical Decision Support feature enhances clinical decision-making. Leveraging artificial intelligence and machine learning, this tool provides evidence-based recommendations and alerts for medication therapy management, aiming to ensure patient safety and improved outcomes.