Keynote address by Patrick M. Schmidt, CEO of FFF Enterprises, at HITLAB Innovators Summit 2022
HITLAB Team • April 5, 2023
Drug overdose deaths in the U.S. rose to a record level in 2021, nearing 107,000, according to data from the U.S. Centers for Disease Control and Prevention. Immediate access to naloxone, a medicine that rapidly counters opioid overdose, is key to combating this epidemic of epic proportions. FFF Enterprises Inc. (FFF), the nation’s leading specialty pharmaceutical distributor specializing in plasma products, rare and orphan drugs, and vaccines, has risen to the challenge by leveraging its technology assets to address naloxone supply challenges. Along with its subsidiary, RightNow Inventory™—which develops and delivers intelligent inventory technology solutions that offer healthcare providers on-site, on-demand management of critical and preventive care medications—FFF will distribute naloxone proactively and directly to those who need it.
FFF’s naloxone distribution story is a powerful example of how healthcare technology can make a difference by addressing critical needs. Healthcare technology companies should focus on providing useful tools to help both patients and providers.
One area where FFF has made a significant impact is in the prior authorization process for expensive prescription drugs. This process often leads to inaccurate case reviews, which can result in ineligible patients receiving therapy that provides no real benefit and leads to wasteful spending. To address this challenge, FFF developed InCircle, LLC, a decision support system that ensures the right patient receives the right drug at the right dose. This system accelerates the time to therapy initiation, which translates into saved money and lives.
FFF is committed to fulfilling unmet needs in the healthcare sector and has made significant investments in digital technology to strengthen its business. “We have invested tens of millions of dollars in state-of-the-art enterprise resource planning systems, warehouse management systems, e-commerce, cloud, distributed workplace communication systems, customer relationship management, artificial intelligence, and machine learning,” said Patrick M. Schmidt, chief executive officer (CEO). He further emphasized that FFF sees digital capabilities as a crucial tool for transforming its relationship with customers and fulfilling its mission of Helping Healthcare Care®.
Value-based care is the future of healthcare and FFF Enterprises, Inc. is committed to leading the way. In a recent speech, Mr. Schmidt emphasized the importance of creating customer-centric technology solutions that are scalable and cost-effective. He explained that the goal is not simply “to create a solution to a problem” but to contribute to the broader cause of improving healthcare delivery.
As health systems continue to transform digitally, the focus must be on improving patient outcomes and experiences while increasing efficiency, reducing costs, and ensuring quality healthcare for everyone. By leveraging technology to create scalable solutions that are centered on patients and their needs, FFF is working to transform the healthcare industry and help providers deliver better care.
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