Never-Before-Seen Data on the Injectable Drugs Market Now Available through DoseData

Through a proprietary RFID-tagged drug database, DoseData will offer access to intelligence on consumption activities across all hospital supplier participants.

ALEXANDRIA, Va., Oct. 25, 2022 /PRNewswire/ -- As hospitals and their pharmacy operations continue to evolve in the wake of the COVID-19 pandemic, participants across the healthcare ecosystem have intensified their focus on supply chain digitization.

Across industries, modern manufacturers often seek real-time analytics to drive decision-making that would result in supply continuity, hard dollar savings, and increased patient safety. However, there has historically been no data available on what happens to 503b inventory once it reaches the hospital. Consequently, both generic manufacturers and 503b compounders do not have a complete understanding of how hospitals are using the inventory - until now.

Using a proprietary RFID-tagged drug database, DoseData's tagged product report provides a rich understanding of drug consumption, including medications sourced from the 503B channel. Updated daily, the report ingests its data directly from hospital inventory systems which catalog real-time drug consumption. 

In addition to detailing which specific drug was used, the report also includes rich meta-data which facilitates detailed analysis based on manufacturer name and type, package size and type, concentration, and specific drug. This data illuminates a part of the supply chain that generic drug manufacturers and 503b compounders can use to help address market needs on both an ongoing basis, and when responding to critical supply chain disruptions such as shortages.

Tom Bakas, vice president of data products for DoseData, said "The revolutionary real-time visibility into the pharmaceutical supply chain can help suppliers improve their service levels to their hospital customers, allowing them to focus on what matters most, providing optimal patient care." Bakas added, "The entire supply chain can benefit from this increased visibility, driving more accurate demand forecasting, efficient inventory management, and insights into product consumption that enable manufacturers and compounders to produce the right product at the right time to serve hospitals better."

"DoseData contains a truly unique data set that manufacturers and 503b compounders can leverage to optimize supply chain and inform new product development," said T.J. Bozada, product manager for DoseData. "While the RFID-tagged drug database is just one of DoseData's proprietary datasets, its real-time insight into actual hospital consumption is unparalleled."

To find more information on DoseData or schedule a demo, visit the company's website at www.dosedata.com.

About DoseData:

DoseData provides drug manufacturers visibility into how their medications are being used inside the four walls of a hospital in real-time. By collecting and updating data daily, DoseData empowers organizations to make confident, informed decisions based on what's happening in the supply chain today - not a month ago. With unparalleled data visualization, companies can enhance their commercial strategy, improve production planning, mitigate shortages, analyze competitive intelligence and more.  For additional information, please contact DoseData at info@dosedata.com or visit our website at www.dosedata.com.

Media contact: Hannah Fier, hfier@matternow.com

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SOURCE DoseData