The MIDAS V.I.E.W. program will avoid diversion of controlled substances and other dangerous medications in healthcare options across the region
CLEVELAND, October 18, 2022 (Newswire.com)
MIDAS Healthcare Methods Inc., the top developer of technological innovation-pushed options to advertise the safe use, dealing with, storage, return, and disposal of controlled substances and other dangerous remedies in hospitals and other healthcare amenities, announced nowadays a $1.19 million financial commitment from IQ Inc., an award-winning computer software progress business that results in revolutionary people today-focused methods throughout a selection of solutions and industries, which include healthcare.
This partnership arrives at a crucial time when the healthcare industry is plagued by the diversion of opioids and other unsafe drugs, enabling caregivers with compound use diseases to endanger on their own, their colleagues, and their sufferers. Frequently called “Healthcare’s Hidden Epidemic,” this multi-billion-dollar trouble takes place in hospitals, surgical treatment facilities, and other spots where by medicines are dispensed and administered. Some reports estimate there are nearly 4,000 scenarios of opioid diversion each and every working day.
MIDAS and IQ are collaborating to comprehensive the growth of the MIDAS V.I.E.W. (Confirmed Institutional Natural environment for Wasting) process to deal with a number of sizeable vulnerabilities in the managing, history preserving, and destruction of extra prescription drugs in hospitals, medical procedures centers, pharmacies, and other healthcare services. This initial-of-its-form program-centered visual accountability technique will get rid of human error, reduce controlled substance mishandling and misappropriation, and avoid unreasonable reliance on the “honor procedure” for medication managing.
“Most hospitals have some type of drug diversion method in spot, but they lack the essential engineering to guarantee the destruction of these prescription drugs in advance of they are abused,” said Michael Lafauci, MIDAS CEO and Founder. “Patient protection is our top rated precedence and the MIDAS V.I.E.W. process will reduce needless pitfalls in health care.”
“Medication mismanagement generates function process inefficiencies, monetary and human threats, and needless other effects which health care institutions search for to avoid,” mentioned Jeffrey R. Wahl, J.D., MIDAS President and Co-Founder. “As a threat administration lawyer and lecturer, I have noticed the devastating implications to sufferers, their caregivers, and hospitals when lax controls over managed substances continue unabated. We are so pleased with the industry’s fascination in our special technological innovation, reflecting a gap in obtainable diversion avoidance solutions.”
The MIDAS V.I.E.W. procedure will launch pilots in as numerous as five important healthcare institutions nationwide in mid-2023. Just about every pilot will be performed with technological support of the two greatest producers of pharmaceutical automated dispensing cabinets, Becton Dickinson (Pyxis) and Omnicell, Inc., demonstrating a seamless integration involving the dispensing of prescription drugs and wasting excessive (divertible) quantities. A staged commercial rollout will get started soon thereafter.
As aspect of this financial commitment and partnership, IQ CEO Barbara VanKirk will come to be a member of MIDAS’s Board of Administrators, joining Michael LaFauci (MIDAS CEO and Founder), Jeffrey R. Wahl (MIDAS President and Co-Founder), Robert N. Campbell III (formerly Deloitte), and Dr. Andrea Barthwell (formerly American Modern society of Addiction Drugs).
“When we to start with met with the MIDAS group, we knew the mix of their industry expertise and our team’s aim on men and women-focused alternatives would create some thing truly impactful for the country’s battling health care method,” said Barbara VanKirk, IQ President and CEO. “We are fired up to be component of MIDAS’s vision for bettering how healthcare handles and gets rid of managed substances to cut down danger and improve affected person results.”
The MIDAS advisory board is composed of the health care industry’s top experts from pharmacy, small business, governing administration, and healthIT. Among its associates are the previous CEOs of The Cleveland Clinic, The American Nurses Association, the American Pharmacists Association, a former Administrator of the Drug Enforcement Administration (DEA), the former President of the American Modern society of Dependancy Medicine (ASAM), executives of the Intercontinental Overall health Facility Diversion Association (IHFDA), and the Chair of President’s Opioid Endeavor Power.
Medication Integrity Diversion Accountability Procedure (or MIDAS) creates computer software and other options to deal with failures in medicine safety which help soaring stages of medicine diversion during health care. MIDAS’s mission is to market and allow the safer use, handling, storage, return, and disposal of transdermal patches, injectables, and oral medications in health care establishments, pharmacies, and in the property. Its alternatives have attracted focus from government leaders, health-related organizations, and marketplace leaders. Learn extra by visiting https://midashs.com/.
Established in 1994, IQ Inc. is a woman-owned enterprise which has grow to be a leader in delivering personalized program options within a variety of industries, which includes professional medical, health care, transportation, manufacturing and robotics. Above the last 3 many years, we have tested our knowledge in finish-to-end program growth, application testing, consulting, details analytics, innovative systems, and recruiting to help our associates improve. That unwavering determination to exceptional final results has helped us make the title as just one of Pittsburgh’s Quickest-Increasing Companies (2020) and just one of the city’s Best Sites to Work. Learn a lot more at www.iq-inc.com. Follow us: Twitter, Instagram, Facebook, LinkedIn, and YouTube.
Supply: MIDAS Healthcare Alternatives, Inc.