CognitiveRx, a supply chain solution co-developed with Pittsburgh-based UPMC has launched. It helps predict, manage and solve challenges related to drug shortages, inflation and declining reimbursements.
Healthcare improvement company Premier and supply chain company Pensiamo, owned by UPMC, teamed up to develop the new solution.
CognitiveRx uses machine learning to monitor market demands, predict shortage risks and recommend optimal inventory levels. The solution is aimed at reducing the risk of supply disruption.
"We believe it will help UPMC and other healthcare organizations advance cost management and drug shortage mitigation strategies to further bend the cost curve," said Jim Szilagy, president and CEO of Pensiamo and chief supply chain officer for UPMC.