RxRevu Celebrates Unprecedented Growth in 2019
DENVER, Jan. 10, 2020 /PRNewswire/ -- RxRevu achieved unprecedented growth in 2019, advancing its position as the leader in Prescription Decision Support. In only eight months, use of RxRevu’s integrated prescription cost transparency solution, SwiftRx® Direct™, grew from less than ten health systems, primarily in Colorado, to more than 320 health systems across the country. The company is on-pace to have more than 500 health systems using the solution by the end of 2020. Partnerships with industry leading electronic health record (EHR) providers, Epic and Cerner, as well as premier pharmacy benefit managers and payers like Express Scripts, Humana and OptumRx / United Healthcare, allow RxRevu to bring cost savings to millions of patients and alleviate administrative burdens on healthcare providers.
In April 2019, RxRevu launched SwiftRx Direct – a tool that gives providers access to real-time, patient- and pharmacy-specific cost information, coverage restrictions and therapeutic alternatives. The data is available within the native workflows of providers’ EHR platforms. Giving providers drug cost and coverage information on 120 million patients at the point-of-prescribing enables data-driven and evidence-based prescribing decisions that help patients get the medications they need at prices they can afford. Through SwiftRx Direct, providers can see covered and non-covered drugs, avoid medications requiring prior authorization, choose lower cost alternatives from the patient’s health plan and provide coupons that may offer even lower prescription costs for patients.
“In 2019, RxRevu brought personalized, real-time out-of-pocket cost data to the forefront for millions of patients, tens of thousands of providers and hundreds of healthcare systems. We believe that a new level of accuracy and completeness in cost information is essential, compared to generalized or previously-aggregated cost estimates,” said Carm Huntress, co-founder and CEO of RxRevu. “We are proud to have the most comprehensive real-time benefit check network in the market, which is as an important early step in addressing healthcare costs. The RxRevu team will continue our amazing growth throughout 2020 with expanded adoption of SwiftRx Direct and the launch of several new solutions designed to take cost out of healthcare.”
According to the Centers for Medicare & Medicaid Services (CMS), spending on healthcare has increased to one of every five dollars spent, and patients are required to pay higher deductibles and copays. As a public official and CMS Administrator, Seema Verma sees the increasing cost of healthcare as an impending crisis that can, in part, be addressed by empowering patients with cost information they need to make better informed decisions.
“Giving patients access to data is just the first step – we also need to drive towards consumer-friendly tools presenting information that is both personal and actionable at the time people seek care,” explained Verma in a recent blog post. “We need to meet patients where they are and integrate cost information into their healthcare decision making process. The case for price transparency throughout the healthcare system is clear.”
RxRevu is proud to play a leading role in addressing healthcare’s cost transparency crisis and is dedicated to making prescription cost discussions a standard part of doctor-patient interactions. RxRevu’s cost-saving tools are available at no cost to hospitals and healthcare systems. Industry leaders interested in driving out the underlying cost of prescription drugs and improving the patient financial experience are invited to contact RxRevu.
RxRevu is a Denver-based company on a mission to improve healthcare through more informed, consistent and frictionless prescription decisions. RxRevu’s Prescription Decision Support technology promotes condition-appropriate prescribing and patient cost transparency, to improve safety and satisfaction. The SwiftRx® platform helps clinicians quickly and easily find affordable alternatives to more costly medications specific to a patient’s health needs and out of pocket cost. It also enables health systems to holistically manage and measure clinicians prescribing performance. For more information about RxRevu, its solutions and innovative advancements visit rxrevu.com.
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