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OptimizeRx Announces Multi-Year Agreement with Top Hub Services Provider to Accelerate Access for Patients
Deal will enable high-growth patient services company to streamline and enhance its services with OptimizeRx’s technology solutions ROCHESTER, Mich., March
About this update from Optimizerx Corporation
[{"type":"text","content":"Deal will enable high-growth patient services company to streamline and enhance its services with OptimizeRx’s technology solutions\nROCHESTER, Mich., March 09, 2023 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of point-of-care technology solutions helping patients start and stay on therapy, today announced a multi-million-dollar, three-year agreement with a leading Hub services company that will leverage OptimizeRx technology to accelerate patient access for its life sciences brands through digitization of disparate processes. The patient services provider will license the electronic Hub technology which was introduced to the OptimizeRx suite of solutions through the EvinceMed acquisition in 2022. The engagement is focused on determining drug eligibility and affordability and will help accelerate access to coverage and affordability information for pharma-sponsored patient support programs. Our partner is a rapidly growing major Hub services organization that expects to leverage the technology more expansively across its portfolio of pharma brands in 2023 and beyond. Boiled down to the basics, a Hub provides services that allow a manufacturer to have a singular point of contact with patients who utilize their therapies. A Hub is meant to provide comprehensive patient services that patients or doctors would otherwise need to navigate alone in order to meet care management needs. These services range from benefits investigation, prior authorization processing, drug delivery and administration support, financial and co-pay assistance, patient education, compliance with risk evaluation and mitigation strategies, data reporting, and bridge supplies or prescription triaging.1 In a recent OptimizeRx survey of providers, physicians reported that they and their staff spend nearly four hours per day helping patients gain access to medication, with an estimated cost of $5,800 per month to their practices. Dermatologists, gastroenterologists, and neurologists reported spending five or more hours per day helping patients gain access to medication. Oncologists and rheumatologists reported the highest costs to their practices to help patients access medications at $6,700 and $7,900 per month, respectively. Specialty therapies, such as those used in oncology, are the fastest-growing, largest segment o...