Cdex, Inc. (fka CDEX)

[capnmike]

Medication errors have risen because practitioners are substituting unfamiliar drugs, formulations and concentrations. Lethal overdoses of a narcotic painkiller, adrenalin and a blood thinner have occurred, ISMP’s most recent survey in 2010 found.

Costs have soared and product quality has suffered with the emergence of a “gray market,” Cohen said. Shady vendors buy injectable drugs, often from “compounding” pharmacies, then resell the drugs at big markups. Compounding pharmacies, which are largely unregulated, can legally make only custom-order prescriptions, but some have become de facto factories to fill the shortage gap.

Medication shortages: ’Truly a public health crisis’

July 9, 2013

http://www.vindy.com/news/2013/jul/09/medication-shortages-truly-a-public-heal/

CDEX: The ValiMed G4 drug validation system helps healthcare providers ensure patient safety and control costs by reducing medication errors. The patented detection process identifies drug strengths and volume-by-weight in real-time, validating proper dose, diluents and concentration of high-risk compounded medications and treatment solutions. The G4 device will help healthcare facilities comply with Joint Commission compliance requirements and USP 797 guidelines for compounding sterile preparations (CSPs) and integrate with electronic medical record (EMR) platforms.

Real-time validation of drugs and detection of foreign materials
Standardizes and optimizes internal medication safety processes
Mitigates narcotic diversion by validating returns in the hospital
Analyzes the concentration of drug/dose within seconds

http://cdex-inc.com/portfolio_item/valimed-g4/

CDEX Board Member James G. Stevenson, PharmD, FASHP
An interesting excerpt regarding US drug shortages and their role working with ASHP...

As with most hospitals in the US, the past year has been characterized by an unprecedented number of drug shortages and recalls.
Our staff has done an excellent job managing these disruptions in the medication supply chain and has minimized the clinical, operational, and economic impact on our patients, providers and
the overall health system. We also played a leadership role in working with ASHP to help quantify the impact of drug shortages on health system personnel. This information was published and has been used in national summit meetings on drug shortages as well as in FDA hearings. We hope that this work will help better
explain the issue and will lead to ultimate solutions.
........
There was a reduction (60%) in the number of medication errors that reached a patient caused harm or required intervention to prevent harm(category D and higher) in FY?12.

http://www.pharm.med.umich.edu/public/2012_annual_report/2012_Annual_Report.pdf

“I am pleased to join the Board of CDEX and look forward to working with my fellow directors to realize the full potential of CDEX’s life changing technologies. The company has developed valuable technology that could save thousands of lives every year through prevention of medication errors in the clinical environment. CDEX has a strong technology platform and vast market opportunity in healthcare and security both of which are key components for the future success of the Company. As a practicing pharmacist I recognize the prospects of the company and I will work to ensure that the best interests of shareholders, healthcare providers, and patients are represented on the board,” stated Dr. Stevenson.

http://cdex-inc.com/cdex-inc-appoints-dr-james-g-stevenson-to-the-cdex-board-of-directors/

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June 2013 - more on shortages & medication errors...

http://www.anesthesiologynews.com/ViewArticle.aspx?d=PRN&d_id=21&i=June+2013&i_id=962&a_id=23313

A Dangerous Interplay: Rx Shortages and Med Errors