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TraceLink Wins Prestigious Merit Award for Pioneering AI-Driven Solution to Predict Drug Shortages 90 Days in Advance
Boston, Massachusetts (November 16, 2023) - TraceLink Inc., the leading digital network platform company enabling end-to-end product orchestration by connecting more than 291,000 healthcare and life sciences entities through its B2N Integrate-OnceTM network, is proud to announce that its innovative Product Availability Intelligence (PAI) solution has been recognized with a Bronze award by the prestigious Merit Awards for Healthcare Innovation. Product Availability Intelligence leverages the collective intelligence of the TraceLink network to flag drug shortages up to 90 days in advance so they can be successfully mitigated.
The Merit Awards for Healthcare celebrate advancements in healthcare, honoring organizations that have demonstrated exceptional use of technology to meet a wide range of healthcare needs—in this case, addressing the critical challenge of escalating drug shortages in the United States.
TraceLink customers are excited to partner on innovations that improve patient care.
"Recognizing the critical challenge of drug shortages in healthcare, Boston Medical Center is committed to excellence in patient care. This commitment has led us to collaborate with TraceLink," said M. Ross Casey, PharmD, MBA, CSP, Director of Supply Chain & 340B Optimization at Boston Medical Center. "Together, we're implementing forward-thinking strategies to anticipate and protect our patients from the impact of drug shortages."
In 2023, the ASHP Drug Shortages Survey Report highlighted a concerning peak, with 309 active drug shortages—the highest in nearly a decade. TraceLink Product Availability Intelligence successfully predicted 70% of these shortages. Customers of PAI have harnessed our platform to avert shortages for hundreds of thousands of patients, exemplifying our commitment to safeguarding patient health and ensuring medication availability.
The Merit Awards for Healthcare acknowledge the relentless efforts and achievements of global industries and the markets they serve, spotlighting companies that have significantly contributed to the market's growth. TraceLink's recognition at the annual event underscores the company's role as a pioneer in the digital transformation of healthcare.
"This award is a testament to the hard work and dedication of our team who are committed to driving innovation in healthcare," said Shabbir Dahod, President and CEO of TraceLink. "As we celebrate this achievement, we remain focused on advancing our technology to meet the complex challenges of today’s global healthcare supply chain."
To learn more about PAI Product Availability Intelligence.
For the full list of winners visit:https://www.businesswire.com/news/home/20231107462086/en/
About TraceLink Inc.:
TraceLink Inc. is the leading digital network platform company, enabling end-to-end product orchestration by connecting more than 291,000 healthcare and life sciences entities through its B2N Integrate-Once™ network. Leading businesses trust TraceLink to deliver complete global connectivity, visibility, and traceability of pharmaceuticals, ensuring that every patient gets the medicines they need when needed, safely and securely. For more information, visit www.tracelink.com.