BOSTON, 31 January 2023 /PRNewswire/ — PrescriberPoint, a digital marketplace where healthcare providers (“HCPs”) can find all the resources and support they need in one place to get their patients on therapy, for any FDA-approved or OTC drug, announced its Series Seed investment today. Eli Lilly and Company, Pfizer Inc., Adobe Inc. and Mastercard Incorporated participated in the round.
PrescriberPoint has raised significant growth investment from Lilly, Pfizer, Adobe and Mastercard.
PrescriberPoint creates a digital ecosystem based on a “pull” (vs. “push”) model where healthcare professionals can access all the support they need from life science, insurance and pharmaceutical companies across the industry, on their terms, in one place place. Suppliers have access to Product information, coverage and accessibility detailsand support to help them streamline their prescribing workflow and save their practice valuable time.
Dan CornwellCEO of PrescriberPoint, said, “We are on a mission to guide patients to therapy more efficiently by connecting healthcare professionals with the right resources at the right time. We believe an industry-wide aggregation approach is what healthcare professionals need to overcome the incredibly fragmented and frustrating challenge today of working with so many pharmaceutical, insurance and pharmacy companies to navigate the details of coverage and affordability options for their patients.
“We see what we’re doing as similar to what other innovative companies have done in equally fragmented industries like travel, real estate, automotive and financial services, where ‘one-stop shop’ has become the basis for a better customer experience.” We are excited to work with our investors to revitalize this ecosystem and solve the challenges that healthcare professionals and their patients face every day.”
The American Medical Association reported that medical practices spend an average of two business days per physician per week prescribing therapies that have coverage limitations and affordability challenges. This enormous administrative burden typically falls on physicians and their staff and often delays patient care.
“Lilly is committed to helping patients access medicines,” said Diogo Rau, Chief Information and Digital Officer at Eli Lilly and Company. “PrescriberPoint removes the frustrating barriers healthcare providers face when referring patients to therapy. Whether it’s getting drug information, formularies and resources, insurance support and affordability restrictions, or even initial doses, PrescriberPoint is reimagining a simpler, faster approach.”
The COVID-19 pandemic has fundamentally changed the way healthcare professionals receive information and support from life sciences companies, limiting personal access to healthcare facilities. However, given the speed at which new, truly revolutionary therapies come to market, providers still want to hear about these new treatments. They believe that prescribing support from pharmaceutical companies and other institutions, if delivered in the right way, is as useful as ever.
Ryan Steinbergersenior vice president of digital partners and product management at Pfizer, added: “Pfizer is committed to transforming the way we engage with healthcare providers – a bold initiative that requires collaboration from across the life sciences industry. Pfizer’s venture capital group is excited to fund PrescriberPoint’s technology-enabled platform so we can deliver breakthroughs to patients faster and with greater accuracy.”
“Adobe’s mission is to change the world through digital experiences. We are proud to partner with companies from every industry to digitally transform their businesses and deliver personalized, impactful experiences to their customers,” said Hannah Elsakr, Vice President, Corporate Development, Direct Investment and M&A Integration at Adobe. “We are excited to invest in PrescriberPoint to support its vision to digitally transform healthcare and the patient experience with a one-stop prescription marketplace for healthcare providers and pharmaceutical companies.” PrescriberPoint plans to offer healthcare professionals a highly personalized experience, matching the right digital experience to meet their needs at the right time.
Lee Amarosenior vice president of corporate partnerships at Mastercard, also noted an alignment of goals: “At Mastercard, we work to empower an inclusive digital economy. We see a strategic opportunity to work with PrescriberPoint to partner on new cross-industry solutions, as well as helping healthcare professionals—many of whom are small businesses that play a critical role in the communities in which they operate—be better prepared for digital future.”
With the rising cost of living worldwide, patients are at greater risk of struggling with prescription costs. Often the biggest challenge facing many healthcare professionals and their patients is not the lack of available options, but understanding and taking advantage of them.
To learn more about PrescriberPoint, register for our webinar at https://prescriberpoint.com/webinars/reimagining-hcp-pharma-engagement.
PrescriberPoint is a digital ecosystem where healthcare professionals can find all the resources they need to prescribe, all in one place. HCPs can access support from life science, insurance and pharmaceutical companies and streamline their workflows to help patients get the medicines they need and save valuable practice time. You can learn more at https://prescriberpoint.com/.
Raj Sharma, Head Marketing
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