Precision Diagnostics Partners with Principled Strategies to Proactively Address Prescription Drug Abuse, Misuse, and Diversion
San Diego, CA, June 19, 2015 – Precision Diagnostics, a leader in clinical laboratory testing and medication adherence monitoring, has announced a partnership with Principled Strategies, creators of the SafeUseNow℠ platform – a prescriber-centric risk identification and intervention program that uses predictive analytics to combat the spread of prescription drug abuse. SafeUseNow compliments Precision’s TBM™ (Diagnostics Benefit Management) population health management solution, which brings together insurers, pharmacies, providers, and patients to reduce prescription medication abuse, misuse, and diversion.
Precision Diagnostics CEO Jason Hansen said, “SafeUseNow will be a valuable tool in providing our managed care customers with valuable insight into the risk and compliance levels of their patient populations, physician networks, and pharmacy networks. The integration of patient adherence data will facilitate even more comprehensive risk evaluation. SafeUseNow allows the Precision TBM platform to add greater value to our partnerships with payers, employers, provider networks, and third-party administrators.”
SafeUseNow uses multiple data sources, advanced analytics, and a patent-pending risk identification model to enable managed care organizations to identify and intervene with prescribers whose behaviors may contribute to prescription drug abuse. This platform offers a superior alternative to other prescription drug risk management solutions, delivering comprehensive, actionable data and tools to address key cost drivers and improve outcomes. Outputs include 360-degree risk assessments for prescribers, pharmacies, and patients, as well as composite assessments. Intervention services can be tailored to each prescriber’s risk level. The SafeUseNow risk stratification model is based on 17 predictive risk factors discovered in a multi-year study of physician prescribing, pharmacy dispensing, and patient utilization of controlled substance drugs. Validated outcomes include $11.3M in annualized pharmacy and medical cost savings resulting from a three-year pilot program with Horizon Blue Cross Blue Shield of New Jersey.
Patrick Burns, President and CEO of Principled Strategies, said, “Because prescribers are the primary source of prescription drugs, efforts to reduce prescription drug abuse must begin with them, and must identify, engage, and monitor them. Our partnership with Precision Diagnostics is a natural fit, since both companies are committed to addressing the prescription drug abuse epidemic through leading-edge technology, robust analytics, and integrated platforms that enable a coordinated effort to reduce costs and improve outcomes through meaningful intervention.”
About Precision Diagnostics
Based in San Diego, California, Precision Diagnostics is a clinical laboratory that specializes in providing quantitative drug testing, primarily for the purpose of helping physicians monitor their patients undergoing treatment for pain or substance abuse. Precision’s objective is to improve patient adherence and compliance with their prescription regimen and protect medical practices from liability. The company’s services help clients by monitoring appropriate use or identifying abuse of prescription drugs. Learn more at precisiondxlab.com.
About Principled Strategies
Principled Strategies is a healthcare consultancy that leverages the power of predictive analytics, optimization, and risk analysis to create innovative, customized solutions that significantly improve our clients’ performance. Principled Strategies specializes in key aspects of optimizing healthcare, including strategy, advanced analytics, and economics. Learn more at www.principledstrategies.com.
SafeUseNow is a novel, prescriber-centric solution and risk identification and intervention program to combat the spread of prescription drug abuse. Using multiple sources of data, advanced analytics, and a patent-pending risk identification model, our solution enables managed care organizations to identify those whose prescribing behaviors may contribute to prescription drug abuse. The program was developed by Principled Strategies, a health care consultancy with expertise in predictive analytics, optimization and risk analysis. Learn more at www.safeusenow.com.