
PAR Excellence Systems, a provider of supply chain integrity and cost management solutions to the healthcare industry, today announced the acquisition of NotiSphere, a provider of medical inventory recall notice tracking services to healthcare providers and medical device manufacturers.
NotiSphere’s core product enables healthcare providers and device manufacturers to improve patient safety by bringing visibility to a notoriously opaque and complex process while automating operations to realize meaningful cost savings. The company transforms this process by ensuring only providers who have purchased a recalled product are notified and by providing visibility into the recall tracking process. With NotiSphere, both healthcare providers and device manufacturers can achieve a 95% reduction in time required to receive and accept a recall notice, an 80% reduction in time to respond to manufacturers on recall status, and a 90% reduction in false recall notices.
Each year, more than 400 million medical product units are recalled in the United States, and yet health systems’ current communication systems for product recalls are often outdated and inefficient. Hospitals receive notices for all recalled products, including ones they have not purchased, resulting in delays, increased labor costs and a potential risk to patient safety.
NotiSphere’s recall services complement PAR’s existing portfolio of inventory management solutions. Together, PAR and NotiSphere can deliver comprehensive, end-to-end supply chain integrity and cost management solutions, driving digital transformation across the hospital inventory management market.