"Our collaboration with InterSystems brings together the information that matters - connecting pharmaceutical companies, providers, patients, and payers on the Phillips-Medisize Connected Health Platform through a unified healthcare medication record and powerful analytics that span the care continuum," said Matt Jennings, CEO and President, Phillips-Medisize.
An estimated 50 percent of medications for chronic diseases are not taken as prescribed. A 2017 Annals of Internal Medicine review reports that an estimated 125,000 deaths and 10 percent of U.S. hospitalizations are linked to patient non-adherence to prescribed medications, which results in over $290 billion dollars to U.S. healthcare annually.
Phillips-Medisize was the first company to develop an FDA-approved combination Connected Medicine solution to support patients and develop a deeper understanding of how they take their medication. They have applied this experience to the development of their 3rd Generation Platform, built on InterSystems HealthShare, for the pharmaceutical delivery environment. The platform will enable pharmaceutical companies to connect medication and diagnostic information across their drugs and therapy areas on a single, unified platform at an exceptional scale.
Data collected by connected devices using the Phillips-Medisize Connected Health Platform can be shared securely to inform the patient and their healthcare provider when medications have been administered and can be combined with data from diagnostic devices and biometric sensors to generate further insights. Pharmaceutical companies working with Phillips-Medisize will receive an exclusive, secure private cloud.
"Poor medication adherence currently yields unnecessary human suffering and significantly reduced patient health around the world. The collaboration between InterSystems and Phillips-Medisize aims to change that paradigm with a highly scalable platform to securely connect and aggregate data from rare diseases to many millions of patients across global geographies; encouraging patients in the most effective use of prescribed medications to improve outcomes," adds Don Woodlock, head of the HealthShare business unit at InterSystems.
About Phillips-MedisizePhillips-Medisize, LLC, a Molex company, is an end-to-end provider of innovation, development and manufacturing solutions to the pharmaceutical, diagnostics, medical device market segments. Backed by the combined global resources of Molex and its parent company Koch Industries, Phillips-Medisize's core advantage is the knowledge of its people to integrate design, molding, electronics, and automation, providing innovative, high-quality manufacturing solutions.
About InterSystemsInterSystems is the engine behind the world's most important applications. In healthcare, finance, government, and other sectors where lives and livelihoods are at stake, InterSystems is the power behind what mattersTM. Founded in 1978, InterSystems is a privately held company headquartered in Cambridge, Massachusetts (USA), with offices worldwide, and its software products are used daily by millions of people in more than 80 countries.