Adding transparency to prescription decision-making, RxRevu brings in $15.9 million in Series A funding

June 17, 2019
Written by Folake Dosu

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With $15.9 million raised in a recent Series A funding round, Denver-based RxRevu plans to add more transparency to the prescription decision-making process, according to a press release.

Colorado-based health system UCHealth led the round, with participation also coming from the University of Virginia LVG Venture Fund, Presbyterian Healthcare Services (NM), Inception Health/Froedtert Health, Children’s Hospital Colorado, UnityPoint Health, JAZZ Venture Partners and other existing investors.

The company’s SwiftRx platform consists of three solutions: SwiftRx Direct (cost transparency), SwiftRx Navigator (decision support application) and SwiftRx Insights (behavioral analytics tool for healthcare organizations).

RxRevu appeals to various healthcare stakeholders interested in leveraging health tech applications to improve outcomes. Providers have the opportunity to pick the most effective and low-cost medication at the point of prescription while payers and pharmacy benefit managers can utilize the platform’s analytic capabilities.

Among the startup’s clients is UC Health, whose chief innovation officer Richard Zane, M.D. recently joined the company’s board of directors along with former Cleveland Clinic CEO Toby Cosgrove.

"UCHealth and our CARE Innovation Center have been working closely with RxRevu for more than two years in a co-development partnership. We share their vision to improve prescribing to help reduce medication costs and ensure our patients fill prescriptions with as little friction as possible," said Zane in a statement.

“One of our goals is to eliminate the millions of pharmacy call-backs because the patient is surprised at the cost of their medication, or that it is not covered under their plan, which leads to unfilled prescriptions and higher costs for everyone.”

RxRevu co-founder and CEO Carm Huntress added, “Our SwiftRx suite of tools makes it easier for clinicians to identify the right medicine for every patient. We provide both Real Time Benefit Check (RTBC) information and therapeutic alternatives to allow clinicians to see if there are less expensive options or options that do not require a prior authorization.”

“One of our goals is to eliminate the millions of pharmacy call-backs because the patient is surprised at the cost of their medication, or that it is not covered under their plan, which leads to unfilled prescriptions and higher costs for everyone.”

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