Friday, August 28, 2009
Monday, August 24, 2009
Talyst, With $8M in New Funding, Sets Sights on Its Next Healthcare-IT Business
It might be too early to call Bellevue, WA-based Talyst a success, but its story certainly makes for a compelling case study. The company closed $8 million last month from existing investors OVP Venture Partners, Ignition Partners, and AIG Global Investment Group, but didn’t make an announcement. Why? Things have been too busy.
“We raised money to grow new markets,” says Talyst CEO Carla Corkern, who has just been named chairman of the board. “That’s what VCs like to invest in.”
Talyst is known for making software that helps pharmacies manage the flow of medications in hospitals and clinics. The idea is to automate the process of tracking drug inventory and filling prescriptions using smart management software and a touch-screen kiosk interface—sort of like going to a vending machine—and to do it in a safe, secure, and efficient way. The new markets Corkern wants to expand into are nursing homes and assisted living facilities, as well as prisons and other correctional facilities. Those facilities have many people who need medications, but may not have a pharmacist on-site, so they need an efficient way for a nurse or caretaker to package and dispense meds to patients.
“The long-term care market is a $2 billion market for facility-based automation which has a strong return on investment—needed for these times,” says Corkern.
To appreciate the significance of this new market strategy, you need to know the history—much of which occurred before Corkern joined the company. Talyst was founded in 2002 as Integrated Healthcare Systems, and raised some $29 million in venture funding in 2005 and 2006 (a total of $37.5 million prior to the latest round). By 2007, it had become a market leader in managing medications for hospital pharmacies.
Read the full article by Gregory T. Huang at xconomy.com
“We raised money to grow new markets,” says Talyst CEO Carla Corkern, who has just been named chairman of the board. “That’s what VCs like to invest in.”
Talyst is known for making software that helps pharmacies manage the flow of medications in hospitals and clinics. The idea is to automate the process of tracking drug inventory and filling prescriptions using smart management software and a touch-screen kiosk interface—sort of like going to a vending machine—and to do it in a safe, secure, and efficient way. The new markets Corkern wants to expand into are nursing homes and assisted living facilities, as well as prisons and other correctional facilities. Those facilities have many people who need medications, but may not have a pharmacist on-site, so they need an efficient way for a nurse or caretaker to package and dispense meds to patients.
“The long-term care market is a $2 billion market for facility-based automation which has a strong return on investment—needed for these times,” says Corkern.
To appreciate the significance of this new market strategy, you need to know the history—much of which occurred before Corkern joined the company. Talyst was founded in 2002 as Integrated Healthcare Systems, and raised some $29 million in venture funding in 2005 and 2006 (a total of $37.5 million prior to the latest round). By 2007, it had become a market leader in managing medications for hospital pharmacies.
Read the full article by Gregory T. Huang at xconomy.com
Thursday, August 13, 2009
AutoSplit 340B - 340B Processing Software
340B Processing Software
Talyst announces its 340B processing and management software, AutoSplit 340B. AutoSplit 340B automatically monitors all pharmaceutical usage in a 340B-eligible healthcare organization to provide maximum return on qualified transactions. The software works simultaneously with multiple vendors, allows storage and access to as much historical data as needed, and its enhanced reporting features facilitate exporting data to an Excel spreadsheet.
Talyst, Inc. visit www.talyst.com
See full article Here.
Talyst announces its 340B processing and management software, AutoSplit 340B. AutoSplit 340B automatically monitors all pharmaceutical usage in a 340B-eligible healthcare organization to provide maximum return on qualified transactions. The software works simultaneously with multiple vendors, allows storage and access to as much historical data as needed, and its enhanced reporting features facilitate exporting data to an Excel spreadsheet.
Talyst, Inc. visit www.talyst.com
See full article Here.
340B Prime Vendor Program 340B solution
340B Split Billing/ Replenishment Software.
The Talyst Solution
Streamline 340B Processing & Management
AutoSplit® 340B gives eligible healthcare organizations a more efficient way to process 340B claims. Our easy-to-use split-billing software works with your pharmacy information system, automatically monitoring all pharmaceutical usage to utilize every contract opportunity. It uses data from your current wholesale vendors and hospital information systems, and creates replenishment orders based on eligible 340B transactions.
Talyst is the market leader in 340B contract automation, and has more installed customers than anyone else. Our powerful AutoSplit software enables you to consolidate your data and work simultaneously with multiple vendors. It allows you to store and access as much historical data as you want, and our enhanced reporting features make it easy to export the data you need to an Excel spreadsheet.
Centralize Your 340B Contract Administration
AutoSplit® 340B is easy-to-implement, flexible, and automated. It helps maximize your 340B contract savings while reducing program administration hours, and provides accurate data for reporting and audits.
View the full article at 340BPVP.com
The Talyst Solution
Streamline 340B Processing & Management
AutoSplit® 340B gives eligible healthcare organizations a more efficient way to process 340B claims. Our easy-to-use split-billing software works with your pharmacy information system, automatically monitoring all pharmaceutical usage to utilize every contract opportunity. It uses data from your current wholesale vendors and hospital information systems, and creates replenishment orders based on eligible 340B transactions.
Talyst is the market leader in 340B contract automation, and has more installed customers than anyone else. Our powerful AutoSplit software enables you to consolidate your data and work simultaneously with multiple vendors. It allows you to store and access as much historical data as you want, and our enhanced reporting features make it easy to export the data you need to an Excel spreadsheet.
Centralize Your 340B Contract Administration
AutoSplit® 340B is easy-to-implement, flexible, and automated. It helps maximize your 340B contract savings while reducing program administration hours, and provides accurate data for reporting and audits.
View the full article at 340BPVP.com
Friday, August 7, 2009
CEO Carla Corkern - 100 Women in Seattle Top Tech
The technology industry has historically been dominated by men, but the Seattle region is home to an impressive group of women making their mark as computer scientists, researchers, engineers, social media gurus, tech entrepreneurs and executives.
We're bringing them together for the first time today, in this post. Welcome to our inaugural list of the top women in Seattle technology.
The following information was compiled over several months, starting with reader suggestions before we launched the site. Still, this is just a starting point. We expect it to grow substantially, with continued input from the TechFlash community. We'll refer to the list as we seek people to profile and interview. And we have more plans in the works to continue developing and building on this theme.
In the meantime, continue reading for what amounts to a remarkable argument against traditional stereotypes about gender in the technology industry.
...
Carla Corkern, CEO of Talyst, Bellevue-based automated medication-management company. Previously chief operations officer at aerospace supply-management company Vykor, overseeing areas including software development, customer support...
View the full article at TechFlash.com
We're bringing them together for the first time today, in this post. Welcome to our inaugural list of the top women in Seattle technology.
The following information was compiled over several months, starting with reader suggestions before we launched the site. Still, this is just a starting point. We expect it to grow substantially, with continued input from the TechFlash community. We'll refer to the list as we seek people to profile and interview. And we have more plans in the works to continue developing and building on this theme.
In the meantime, continue reading for what amounts to a remarkable argument against traditional stereotypes about gender in the technology industry.
...
Carla Corkern, CEO of Talyst, Bellevue-based automated medication-management company. Previously chief operations officer at aerospace supply-management company Vykor, overseeing areas including software development, customer support...
View the full article at TechFlash.com
Thursday, August 6, 2009
Interview With Talyst CEO Carla Corkern
August 3rd, 2009 by David E. Williams of the Health Business Blog
Talyst makes hardware and software for remote, on-demand medication dispensing for hospitals, nursing homes and prisons. Often prescriptions for these facilities are purchased in 30-day blister packs. But things change: prescriptions change, patients die, prisoners get moved around or released and so on. A lot of times drugs get wasted as a result. The Talyst system looks pretty interesting and I’m not surprised the company is gaining traction.
I spoke today with Carla Corkern, Chairman and CEO of Talyst. We talked about the company’s value proposition, integration with existing information and distribution systems, costs, and how Talyst fits into healthcare reform overall. Since Carla’s background is in high tech and supply chain, I was also interested in her impressions of the healthcare space.
Carla was on a cell phone and the audio isn’t great. If you can’t handle it, just read the transcript.
The recorded interview is on the Health Business blog website, Click Here to listen
see the article at HealthBusinessBlog.com
Talyst makes hardware and software for remote, on-demand medication dispensing for hospitals, nursing homes and prisons. Often prescriptions for these facilities are purchased in 30-day blister packs. But things change: prescriptions change, patients die, prisoners get moved around or released and so on. A lot of times drugs get wasted as a result. The Talyst system looks pretty interesting and I’m not surprised the company is gaining traction.
I spoke today with Carla Corkern, Chairman and CEO of Talyst. We talked about the company’s value proposition, integration with existing information and distribution systems, costs, and how Talyst fits into healthcare reform overall. Since Carla’s background is in high tech and supply chain, I was also interested in her impressions of the healthcare space.
Carla was on a cell phone and the audio isn’t great. If you can’t handle it, just read the transcript.
The recorded interview is on the Health Business blog website, Click Here to listen
see the article at HealthBusinessBlog.com
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