Written by: Laisha Daley – InStockRx
InStockRx has introduced a new suite of inventory management solutions designed specifically for hospital pharmacy systems, coupled with access to a nationwide marketplace aimed at trading surplus medications. This development comes as the company further expands its reach in the healthcare supply chain sector.
In conjunction with the new solution, InStockRx also announced the appointment of Ayoub Chybli as President of InStockRx Enterprise. Chybli brings over 23 years of leadership experience in complex pharmacy operations within large healthcare systems. His previous roles include serving on the Advisory Board at the Rueckert-Hartman College for Health Professions at Regis University in Denver, Colorado. He is also a Fellow of the American College of Healthcare Executives.
“I am excited to join InStockRx as President, InStockRx Enterprise,” Chybli said. “This opportunity allows me to help drive innovation within the pharmacy supply chain and work toward enhancing accessibility and efficiency in healthcare.”
The introduction of these new solutions comes at a time when pharmacy inventory expenses represent a significant portion of hospital operating costs. A 2024 report from the American Hospital Association highlights that hospitals spent $115 billion on drug expenses in 2023. With escalating drug prices and ongoing shortages, InStockRx aims to address these challenges by providing tailored solutions that focus on improving efficiency in hospital pharmacy operations.
The new integrated solution includes advanced inventory management tools, access to the nationwide marketplace, and sophisticated software leveraging artificial intelligence (AI). The company believes this combination will help hospitals manage their inventory more effectively, minimize waste, and redistribute medications where necessary, creating a more sustainable and cost-efficient approach to pharmacy operations.
Mac Dougherty, CEO of InStockRx, emphasized the strategic significance of the launch: “InStockRx Enterprise is a milestone for us, connecting pharmacies nationwide and facilitating collaboration to ensure better medication distribution. Under Ayoub’s leadership, we aim to provide the tools large organizations need to thrive in a changing healthcare landscape.”
InStockRx is committed to optimizing pharmacy supply chains by aggregating medication data, identifying surplus stock, and enabling redistribution in compliance with the Drug Supply Chain Security Act (DSCSA). Through its innovative platform, which integrates AI-driven marketplace and inventory analytics, InStockRx seeks to tackle issues such as medication waste, efficiency gaps, and drug shortages in the pharmaceutical industry.
Contact Information:
InStockRx
Laisha Daley – Chief Marketing Officer
Website: www.instockrx.com
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