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 by way of its Market Search expertise, an AI-enabled search engine that well being organizations may give to their shoppers that makes use of knowledge from totally different drug low cost packages to seek out lower-cost drugs.
Waltz may even provide well being plans with perception into remedy adherence tendencies.
The primary payer to make the most of Waltz’s tailor-made model of its Medicare-focused Market Search utility can 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 need to save members cash on their medication was a pure growth for Waltz Well being,” Mark Thierer, CEO and cofounder of Waltz Well being, advised MobiHealthNews.
“These members typically have very tight budgets and might’t afford high-priced drugs, which is usually a large subject 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 a whole bunch of {dollars} – it may possibly pressure them to make laborious selections about whether or not to fill their prescriptions or not. Working with progressive well being plans which are enthusiastic about discovering distinctive options, like our Market Search utility, and fixing particular member ache factors is a testomony to the belief our group 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 government traders.
Different firms trying to decrease prescription drug costs for shoppers embody Mark Cuban Price 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 Stage in Medical Simulation” is scheduled for Tuesday, March 12, 4:15-5:15 p.m. ET, in W304A at HIMSS24 in Orlando. Be taught extra and register.
