As InfiniTrak enters its second decade, the company has strengthened its industry leadership position. From humble beginnings in collaborating with both the Virginia Pharmacy Association and the National Alliance of State Pharmacy Associations, the company has grown from a solid niche of independent pharmacies to now working with some of the largest pharmacy chains in the country.
Throughout this time our advanced technology has been the primary catalyst behind our growth. In our early years word of mouth on our easy to use platform spread faster than we ever expected. Added functionality beyond DSCSA garnered attention from the large pharmacy chains. In fact, when new InfiniTrak clients are asked their main reasons in selecting our solution there are three consistent responses. First, the confidence in our technology to get them comfortable through 2023 interoperability. Secondly, InfiniTrak’s regulatory expertise with office near Washington DC networked with federal and state regulators. And finally, our partnership culture, where you are not buying a compliance subscription but collaborating with a resourceful partner to get and stay compliant.
There were a whole host of other reasons, most of which pertain to our continued improvements based on client requests, including: our latest added functionality from no touch implementation, one touch scanning, controlled substance tracking, recall and expiry management.All of the above helped us obtain a new contract with one of this country’s largest hospital management groups, which selected InfiniTrak after eleven months of due diligence seeking a DSCSA provider that can lead their healthcare facilities to complete compliance. We are very proud to have been chosen to lead their healthcare facilities to full compliance. The hospital vertical has been our fastest growing segment and this new contract will only get more hospitals compliant with all aspects of the DSCSA law and will do so in the most efficient and cost-effective manner.
I cannot finish this letter without thanking our IT department, who’s flexibility has been critical in expanding our leadership position in pharmacy chains as well as becoming a major factor in the hospital arena. In addition, Mark Tate and his regulatory team has been instrumental in staying on the forefront of what is coming on the regulatory side, while coordinating with our IT team to concentrate in the right areas that have a material impact in improving our client’s processes.
The industry has been riddled of late with partial solutions and misinformation. One of the reasons InfiniTrak has succeeded in our expansion into new verticals is due to the opening the competition has given us with our gap analysis, finding various areas of non-compliance that need to be remedied. Too many well-meaning dispensers are betting on partial solutions with hopes that their vender will eventually develop what they need.
We will always be grateful for the confidence our clients have placed in us in partnering through interoperability and assuring full compliance of every aspect of the law, both prior to and beyond 2023.
Chairman of the Board