In this interview, ComputerTalk Publisher Bill Lockwood talks to Jude Dieterman, CEO of Transaction Data Systems (TDS) about the name change of the company to Outcomes, following the merger with Outcomes. Dieterman will continue as CEO for the combined companies.
ComputerTalk: In recent years TDS has placed an emphasis on generating revenue for its pharmacy customers from clinical services. The merger with Outcomes aligns with this emphasis. Would you share with us what factored into the decision for the name change?
Jude Dieterman: TDS began 47 years ago focused on pharmacy management and basic operations with Rx30. Growth and acquisitions over time brought other solutions into the portfolio, including Computer-Rx, Reconciliation, KloudScript for specialty, and PrescribeWellness. Naturally, our strategy centered on empowering pharmacy and maximizing clinical revenue. The Outcomes acquisition and merger was our next evolution in the focus on the future of clinical pharmacy, where diversified revenue is realized through seamlessly integrated solutions. We have chosen to keep the name Outcomes with the merger, as it embodies our mission to drive better outcomes for patients through our 48,000 retail, chain, grocery, and health-system pharmacies in our network.
CT: Prior to the merger Outcomes was a crusader for the role pharmacists could play in medication management. There was a lot of lip service given to this concept, but Outcomes made it happen. How successful has Outcomes been in this space over the years?
Dieterman: Outcomes has certainly been the leader in the medication therapy management space, with a keen focus on improving performance and clinical outcomes. This year we are on track to distribute $100 million in clinical reimbursement to our pharmacy network. We value the role pharmacists play as clinicians, outside of just medication management, and Outcomes is a conduit to help position pharmacists as healthcare providers beyond the operational function of dispensing prescription drugs.
CT: With emphasis on clinical services, where does this leave Rx30 and Computer-Rx? What role do you see these systems playing under the Outcomes umbrella?
Dieterman: Both Rx30 and Computer-Rx are integrated to the Outcomes platform, as are countless other pharmacy management systems. Under the Outcomes umbrella, we can now consolidate all legacy revenue-generating clinical and adherence programs into one connected healthcare network, OutcomesOne. Furthermore, the evolution of provider status and in-time payment parity necessitates the need for a comprehensive clinical system with integrated medical billing. We look forward to releasing this functionality in the coming months.
CT: Having the Outcomes platform integrated in other pharmacy management systems certainly expands your reach. Would you care to comment on that?
Dieterman: OutcomesOne can be integrated into any pharmacy management system and drives better health outcomes by uniting technology and clinical relationships at the point of care. As a leading patient-centric technology business, we are focused on connecting pharmacies, payers, and pharmaceutical companies to collaboratively drive better patient outcomes. We are not looking to limit that reach; rather, we are focused on expanding our ecosystem and growing our pharmacy network. Our vision is for pharmacy to be recognized as the cornerstone of care.
CT: How do you see 2024 playing out for the pharmacy market? Will this be a pivotal year for moving beyond dependency on prescription revenue?
Dieterman: I certainly do. Beyond the regulatory changes taking place in Q1, the movement toward provider status and increasing scope of practice is gaining momentum. We are proud to support the various pharmacy associations as they band together in advocacy for this. Our focus in 2024 is to propel the future of clinical pharmacy across the healthcare journey to allow our network to focus on delivering reimbursable, profitable patient care. I anticipate that the dependency on prescription revenue alone will shift as we elevate the role of pharmacists as care providers in the communities they serve.
CT: Anything else you would like to add in closing?
Dieterman: Outcomes is revolutionizing healthcare delivery by putting pharmacy at the center through our technology platform to drive better patient outcomes. In leveraging technology and our partner ecosystem of provider, payers, and pharmaceutical manufacturers, Outcomes is able to accelerate the pathways and connections at the point of care in the pharmacy, to deliver added value across the healthcare ecosystem. CT