Xact Laboratories Announces Strategic Partnership with a national Switch to provide integrated PGx results at the point of prescription fulfillment
CLEVELAND, Nov. 29, 2023 /PRNewswire/ -- Xact Laboratories LLC (Xact), a biotechnology company focusing on integrated pharmacogenomic (PGx) test results at the point of care, is excited to announce a groundbreaking partnership with a national prescription claims clearinghouse (commonly known as a "Switch"), to automate the integration of cutting-edge pharmacogenomic testing results to aid providers in optimizing prescription medical therapy for members from participating health plans.
Through this strategic partnership, Xact Laboratories and the Switch will offer a joint solution to healthcare insurance plan customers ("Plan Sponsors") which will make evidence-based, PGx-guided prescribing decisions more accessible and actionable for healthcare providers, pharmacists, and patients. Historically, patients have been required to carry a lengthy (30-page) pharmacogenomic test results report with them to present to their provider or pharmacist if they have questions involving their prescription medication regimen. Now, through Xact's patented process of integration, these results are automatically stored within the prescription fulfillment workflow utilizing NCPDP standards to alert pharmacists and providers to consider adjusting prescriptions based on the clinical findings of the PGx results.
This marks the 1st time evidence-based prescription medication management is integrated at the Switch level and solves the two problems that have hampered the adoption of PGx-guided medical therapy: portability and interoperability. This represents a significant breakthrough in personalized medicine.
As a result, the Xact and Switch collaboration will drive beneficiary benefit by offering providers and pharmacists real-time clinically relevant information necessary to improve outcomes, reduce the cost of treatment, and enhance the quality of healthcare services provided through the Plan Sponsor. In addition, Xact's integration of PGx data at the Switch will drive improvements in health plan initiatives, formulary adherence, and beneficiary satisfaction.
Rob Todd, managing partner of Xact Laboratories, expressed his enthusiasm about the partnership, "We believe that every patient deserves personalized, evidence-based healthcare. The collaboration with the Switch will empower healthcare professionals with the tools necessary to make more informed clinical decisions, reduce unnecessary costs associated with medication-related complications, and provide a higher quality of care".
PGx testing is revolutionizing the healthcare industry by allowing providers to tailor prescription drug regimens to an individual's genetic makeup. By understanding how a patient's genes can impact their response to prescription medications, healthcare providers can optimize treatment plans, minimize adverse reactions, and improve overall health outcomes. Xact Laboratories is the only company that can embed the results in the pharmacy adjudication process, allowing for real-time intervention of informative alerts to the pharmacist.
Xact Laboratories has been hyper-focused on automating precision medicine for over a decade. In 2022, the NCPDP Foundation Board of Trustees awarded Xact Labs a grant to integrate pharmacogenomic (PGx) data into PBM systems and/or Pharmacy Benefit Administrator modules to share clinical alerts with pharmacists using NCPDP Standards. "As NCPDP expands its strategic initiatives to support better outcomes using pharmacogenomic data and the ability to standardize the data to enhance in work-flow capabilities, the NCPDP Foundation understands the importance of leveraging automated medication safety tools supporting the evolving role and value of pharmacists, patient access, and improved patient safety. Through our active grant awarded to Xact Labs, pharmacy-led precision medicine supports improved adherence, and the understanding precision medicine is greatly benefited when evidence-based measures are applied," said J. W. Hill, MBAHCM, CNED, NCPDP Foundation Executive Director.
For more information about Xact Laboratories please visit Xact Laboratories.
About Xact Laboratories:
Xact Laboratories is a leading provider of pharmacogenomic testing services, specializing in the automation of PGx results to aid providers in guiding more informed medical therapy decisions. With a commitment to advancing healthcare through precision medicine, Xact Laboratories empowers healthcare providers and patients with personalized insights to optimize medication safety and efficacy.
About NCPDP:
The National Council for Prescription Drug Programs (NCPDP) is a non-profit organization that develops and promotes healthcare industry standards in the drug supply chain that improves patient safety and health outcomes. The NCPDP has been trusted to create industry standards for almost 40 years.
SOURCE Xact Laboratories
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