Waltz Well being, a digital search engine for prescription pricing and reimbursement, introduced its transfer into the Medicare market.
The Chicago-based firm will present well being plans supporting Medicare beneficiaries in accessing decrease prescription drug costs through its Market Search expertise, an AI-enabled search engine that well being organizations may give to their customers that makes use of information from completely different drug low cost packages to seek out lower-cost medicines.
Waltz can even provide well being plans with perception into remedy adherence traits.
The primary payer to make the most of Waltz’s tailor-made model of its Medicare-focused Market Search utility shall be SCAN Well being Plan, a not-for-profit Medicare Benefit well being plan provider.
“Medicare Benefit represents one of many fastest-growing market segments in all of healthcare, so increasing to help Medicare well being plans that want to save members cash on their medication was a pure growth for Waltz Well being,” Mark Thierer, CEO and cofounder of Waltz Well being, informed MobiHealthNews.
“These members typically have very tight budgets and might’t afford high-priced medicines, which could be a large problem once they enter protection gaps just like the ‘donut gap.’ In the event that they attain their protection limits and are compelled to pay out of pocket for prescriptions – particularly on name-brand medication that may value lots of of {dollars} – it could drive them to make laborious choices about whether or not to fill their prescriptions or not. Working with modern well being plans which might be enthusiastic about discovering distinctive options, like our Market Search utility, and fixing particular member ache factors is a testomony to the belief our crew is constructing available in the market.”
Thierer served as CEO of pharmacy profit supervisor OptumRx after UnitedHealth Group acquired fellow PBM Catamaran, the place he was chairman and CEO.
THE LARGER TREND
Waltz Well being launched in 2022 with $35.4 million in Collection A funding. GV led its Collection A spherical with participation from Outline Ventures, Echo Well being Ventures, Blue Enterprise Fund, Byers Capital, Twine Ventures and particular person healthcare govt buyers.
Different firms trying to decrease prescription drug costs for customers embody Mark Cuban Value Plus Drug Firm, drug value and telehealth firm GoodRx, Amazon and Transcarent, a healthcare platform for self-insured employers.
“Digital Twins in Healthcare: The Subsequent Degree in Medical Simulation” is scheduled for Tuesday, March 12, 4:15-5:15 p.m. ET, in W304A at HIMSS24 in Orlando. Study extra and register.
