Technology Platform Companies Continue to Impact the PBM Market

Recently, a number of entities have been entering the PBM market with new technology platforms. This technology may leverage advanced business intelligence capabilities with data analytics, AI/machine learning, and proprietary technology and be offered to the market as a solution to help drive down the high costs of pharmacy benefits.

Prescryptive Health recently acquired nonprofit pharmacy benefit manager Northwest Pharmacy Services and all of its current staff.

Prescryptive is a PBM that describes itself as a healthcare tech company that specializes in drug price transparency. Presryptive recently acquired Northwest Pharmacy Services (NWPS), which serves more than 44,000 customers.

The strategic acquisition accelerates Prescryptive’s market penetration and growth and expands access to Prescryptive’s exclusive blockchain-powered mobile solution, bringing convenience, transparency, choice, and control over prescription drug pricing to NWPS members.

NWPS customers and their members can now take advantage of Prescryptive’s myRx.io platform to gain price transparency and save money on the prescription drugs they need by shopping between their local network of pharmacies to find the lowest price right from their mobile phone.

AshHEALTH, LLC, agreed to represent InfinityRx, which recently launched a proprietary PSP platform impacting copay assistance programs and exceeding expectations for market access for its clients.

InfinityRx. InfinityRx offers a cloud-based platform that offers a unique and easy-to-administer digital method for brand pharmaceutical drug manufacturers to buy-down expensive prescription medication. AshHEALTH will assume the InfinityRx go-to-market, commercialization, and capitol venture strategy.

The InfinityRx platform delivers a flexible, mobile, and innovative rules engine that electronically drives a targeted price discount or copay assistance to high-cost medications at the POS retail level and all sites of care for treatment.

A manufacturer can customize its target price and program benefits directly into the InfinityRx signature proprietary platform and make changes that become effective and fully operational for patients to experience the benefit in real-time, under 24-hours versus historical platforms that can take up to thirty days to deploy.

Takeaway: Technology platform companies continue to offer solutions to lower prescription drug costs