Product News: Software
Web-Based SaaS Platform monitors, analyses pharmacy benefits.
Press Release Summary:
August 21, 2014 - Applying SaaS model, Reveal™ v2.0 delivers real-time surveillance and analytics, retrospective and predictive, for pharmacy benefit oversight. Web-based software tool enables monitoring of pricing, process, formulary, and rebate adherence. Also included, full suite of Centers for MedicareÂ and Medicaid Services (CMS) oversight products feature automated reject analysis, comparisons of source to PDE claims, and all other CMS oversight requirements.
Original Press Release
TRICAST Launches New Version of Web-Based Pharmacy Benefits Surveillance and Analytics Software Tool
Press release date: August 14, 2014
MILWAUKEE -- TRICAST, Inc. today announced the availability of Reveal(TM) 2.0, its cutting-edge web-based software tool that leverages nearly two decades' worth of prescription drug benefit consulting expertise.
"We've baked all our knowledge into a product that delivers real-time surveillance and analytics (both retrospective and predictive) for comprehensive pharmacy benefit oversight. There's really nothing else like it in our industry," said TRICAST President Greg Rucinski.
The release of Reveal also marks TRICAST's entry into the software as a service (SaaS) market space. SaaS is a software and licensing delivery model in which the software is licensed on a subscription basis and is centrally hosted.
"Applying a SaaS model in the healthcare industry has the potential to significantly reduce our client's IT support costs as well as allowing Reveal(TM) to grow with the client without incurring additional IT capital expenditures," noted Director of Infrastructure Chris Favero.
Reveal enables TRICAST clients to monitor pricing, process, and formulary and rebate adherence. The tool also includes a full suite of Centers for Medicare & Medicaid Services (CMS) oversight products such as automated reject analysis, comparisons of source to PDE claims, and all other CMS oversight requirements.
"We've learned a lot about what's important to the healthcare marketplace in our two decades of consulting and we've built it into Reveal," said Director of Software Development Ken Ullsperger.
For example, many need an automated method of importing data that's integrated with fixed files such as Medi-Span® or First DataBank® pharmaceutical information, CMS watch list criteria, CMS gap discount information, taxonomy files, and other decision-support information.
"We want to be very clear: TRICAST is not abandoning our tried and true consulting offerings. What it really means is that we are empowering our clients by harnessing the benefits of our fifteen years of experience and making it available to them," concluded Rucinski. "Our Reveal clients benefit because their pharmacy benefit data is available for comparative analysis at a daily, hourly and even down to the minute frequency. Our Reveal clients can now focus on the road ahead instead of looking back at what has already transpired."
TRICAST is a pharmacy data analytics company utilizing industry expertise and powerful software tools to empower our clients to make decisions that lower their healthcare costs and efficiently manage their pharmacy benefit programs. TRICAST is headquartered in Milwaukee, Wisconsin. We serve clients nationwide.
Rob Shelley, Senior VP of Business Development