ATLANTA (PRWEB) September 10, 2019
Invistics, the leading provider of advanced healthcare inventory visibility and analytics software, today announced that the National Institutes of Health (NIH) has awarded the company an additional supplementary grant to further expand its drug diversion program. The supplementary grant was awarded as part of the small business awards made through the NIH HEAL (Helping to End Addiction Long-Term) Initiative. NIH launched the HEAL Initiative in 2018 in an effort to address the national opioid crisis using scientific solutions. In total, NIH has granted Invistics over $2 million. NIH has also extended the research project timeline through November 2020.
Invistics’ drug diversion program currently leverages machine learning and advanced analytics to detect opioid and drug theft across nursing and pharmacy departments in hospitals and health systems. This second supplementary grant will help Invistics expand its program to cover anesthesiology departments, an area where drug diversion commonly occurs within hospitals.
“Drug theft continues to be an issue that jeopardizes patients and that affects all healthcare providers. With this grant, we plan to help hospitals and health systems get the resources they need to detect drug diversion in a matter of days instead of weeks,” said Tom Knight, founder and CEO of Invistics. “We’re grateful for the continued support of NIH as we work with hospitals to prevent and detect drug diversion, thus increasing patient safety and reducing financial risk.”
According to a recent survey, 98 percent of respondents believed that drug diversion negatively impacts patient care and compliance. An example of the negative impact of drug diversion includes a recent CDC report of a Hepatitis C outbreak that was caused by a nurse diverting opioids in Washington.
“This Hepatitis C outbreak is just the latest example of why we are working with hospitals to prevent and detect drug diversion – patient safety,” added Knight. “Many hospitals recognize the issue and are taking steps to increase patient safety, but often it is not enough.”
The National Institute on Drug Abuse (NIDA), part of NIH, awarded Invistics a grant for the first phase of its research in 2017.
Invistics’ drug detection software is currently available to all hospitals and health systems across the U.S. To learn more about the NIH research results and Invistics, visit https://www.invistics.com.
Research reported in this publication was supported by the National Institute on Drug Abuse, part of the National Institutes of Health, under Award Number 1R44DA044083-01. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
Invistics is the leading provider of cloud-based software solutions for healthcare inventory visibility, providing advanced analytics and actionable insights for hospitals and health systems who want to detect and prevent drug diversion. Invistics’ solution, called Flowlytics®, tracks the movement of drugs across the complex supply chain – from the time they are shipped from the wholesaler to a healthcare facility, then each time drugs are moved throughout the hospital and administered to patients.
Atlanta-based Invistics Corporation also provides inventory visibility for manufacturers, distributers, repackagers and controlled substance registrants, helping to reduce inventory costs and compliance risks within a single facility or across the extended enterprise. To learn more, visit https://www.invistics.com.