QuicksortRx In 2024: A Year of New Achievements
And just like that, another year is in the books! In 2024 we helped our hospital partners achieve some truly remarkable results—and we are so proud to share some of the amazing milestones and achievements of the last twelve months.
Let's dive into some of 2024's highlights from our 2024 Annual Report.
Financial Wins: Saving Big Together
In 2024, we hit an all-time savings of $169.2 million—marking a whopping 74.2% increase from last year.
Our total savings for 2024 alone were $74.5 million; on average, our hospital partners saved about $1.9 million each, an 11.8% increase from 2023. We track savings across three main categories: Product Swaps, Contract Fixes, and Accumulation Fixes.
These numbers are more than just figures—they represent the tangible impact we're making in healthcare operations.
Setting New Standards for WAC Premium Performance
In the fast-paced world of pharmacy and supply chain management, every minute counts. To maximize impact, health systems are laser-focused on identifying and tackling the areas with the biggest potential for cost savings. Enter WAC Premium – a strategy-oriented metric that pinpoints the gap between the Wholesale Acquisition Cost (WAC) and alternative prices paid for inpatient medications.
At QuicksortRx, we encourage our customers to strive for a WAC Premium of 2.9% or less – this is a benchmark we have determined to be a critical indicator of a health system’s ability to operate at maximum efficiency. We started the 2% Club to reward hospital pharmacy teams that have achieved this metric. In 2024, we welcomed 14 new members to our 2% Club, bringing the total membership to 25.
Overall, our health systems achieved an average WAC Premium of 3.21%. A special shoutout goes to one of our Midwest hospital partners, which achieved a remarkable 7% reduction in WAC Premium, ending the year at 3.29%. Kudos to you for setting a new benchmark!
A Round of Applause: Growth and Recognition in 2024
We don’t do it for the recognition—but we would be lying if we said we weren’t thrilled about our team’s achievements this year!
- QuicksortRx placed 2nd on South Carolina's 2024 50 Fastest Growing Companies list
- KLAS rated us highest in overall performance and value in the KLAS Pharmacy Purchasing Optimization Analytics 2024 Report
- We relocated to a larger corporate headquarters location to accommodate our growing team
At Your Service: New Product Innovations
We're constantly innovating to meet your needs. Some of our newest features for 2025 include:
- Shortage management tools like the supplier heat map and failure to supply tracking
- Combined report views from multiple data sources
- New reports, including inner and outer NDC lookup table, contract audit, and reclass rebill downloads.
A Growing Team
We're excited to introduce several new hires who joined our team in 2024. Join us in giving a warm welcome to:
- Robert Rose, Pharmacy Account Specialist
- Joe Hoban, Enterprise Account Executive
- Will Goss, Senior Software Engineer
- Grady Rogers, Senior Software Engineer
- Diana Biehn, Director of Marketing
- Luzy Lieger, Marketing & Data Analyst
- Kajal Kamur, Data Scientist
Looking Ahead
2024 was a marked success for the QuicksortRx team–and as we look forward to 2025, we're filled with gratitude and renewed energy. Thank you to all our customers and partners for your continued trust and support. Together, we're making a significant impact in healthcare operations, and we can't wait to see what the future holds. Here's to another year of success!
Download the full report here.
