As an industry-wide recession grips the healthcare sector, some hospitals are looking beyond providing care to make money.
Late last month, software developed by Henry Ford Health for specialty pharmacies launched nationwide. Henry Ford's pharmacy group developed the software, which aids pharmacies that specialize in managing pharmaceuticals that are high cost or very complex, in 2013.
DromosPTM aids specialty pharmacies in finding financial assistance for expensive prescriptions as well as provides input points to monitor whether a patient needs a drug and when they need it.
In the years after its creation, DromosPTM expanded across all of Henry Ford's specialty pharmacies and its innovation division smelled a larger return on investment was possible, deciding to shop it around to potential buyers that could license the technology and take it nationwide, Jankowski said.
But no software companies emerged, so Henry Ford created a spinoff company called Semita (which is Latin for pathway. Dromos is Greek for avenue) to commercialize DromosPTM.
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