Accord Biopharma, Inc. & Asentech, LLC
As Accord BioPharma, Inc. (ABI) prepared for the launch of its new product their team innovated a modern approach to tackle a series of expensive and complex inventory management systems. With less than three months before their launch, the ABI team needed to quickly strategize the best way to implement a system without incurring too much hardware component cost. Seeing the ubiquitous presence of smartphones as an opportunity, they suggested HCPs could use them to scan inventory through a new app called AccordConnects®.
Since its inception in May 2022, AccordConnects has shown promising adoption and performance metrics. With 74 total AccordConnects accounts registered and 33 active accounts, the digital tool has shown great potential to streamline operations within practices. Approximately 20% of total units of inventory sold were managed using AccordConnects, with a remarkable 89% dispensed through the platform. AccordConnects allows customers to track inventory across various practice locations, ensures traceability between dispensed and billed doses, and helps practices to optimize inventory with Just In Time (JIT) electronic ordering. It allows for seamless inventory replenishment through one-click order submissions, and automatic notifications to alert staff when inventory levels are low, providing timely reminders to reorder and avoiding treatment disruptions.
In launching its product, ABI not only introduced a novel therapy but also successfully navigated a competitive market through the strategic implementation of AccordConnects. This initiative has proven pivotal in enhancing ABI’s efficiency and market presence, demonstrating the power of technology-driven solutions in modern healthcare. By integrating smart technology with critical healthcare processes, ABI can set a new standard for inventory management and patient care.
FINALIST:
Crack the JAK (Scientific Global)
Don’t Sweat Inventory Management (Accord Biopharma, Inc. & Asentech, LLC)
NovoCare Cost and Coverage (Novo Nordisk and Avalere Health)
The Hopefall: a One-of-A-Kind Visualization of a Life-Changing Sound (American Cancer Society and Real Chemistry)
Under Her Skin (Novartis and Agency: The Considered)
