OptimizeRx Corp. (OTCQB:OPRX), a health technology software company whose premier content-delivery platform enables pharmaceutical companies to provide on-demand patient-care services, has formed a strategic partnership with RxWiki Inc., a rapidly growing Digital Health company connecting community pharmacies and patients through its Digital Pharmacist platform.
Together the companies plan to help tens of thousands of patients lower out-of-pocket costs and improve adherence to prescription drugs across RxWiki’s network of 1,300 community pharmacies. The strategic partnership allows patients to select and send relevant co-pay coupons to their preferred community pharmacy, at time of prescription refill, via the community pharmacy’s branded mobile app or website.
“Patient adherence is a critical issue in healthcare today,” said William Febbo, OptimizeRx’s CEO. “Many patients abandon their prescription drugs because their co-pay becomes prohibitively expensive. We address this challenge by distributing co-pay coupons for pharmaceutical brands through our network of physicians. Moreover, introducing our co-pay coupons through RxWiki’s large network of community pharmacies is a natural extension of our business.”
Chris Loughlin, chief executive officer of RxWiki, commented: “Community pharmacies serve as a trusted medical advisor to tens of millions of families across the country. Our Digital Pharmacist Platform helps community pharmacies make it easier for their patients to engage, via private label websites, mobile apps, newsletters and social media programs. By offering co-pay coupons within the prescription refill process, we expect to see higher rates of adherence and fewer refill abandonments.”
Patients who qualify for co-pay coupons will be able to select an eligible co-pay coupon at time of prescription refill and digitally transfer the co-pay coupon to their community pharmacist. Co-pay coupons will be available to eligible non-government payer patients. Upon notification of a co-pay coupon, participating pharmacists will be able to enter the pertinent savings information for their patient.
Lower adherence is seen at every out-of-pocket level for patients with a deductible, worsening after costs exceed $30, according to IMS Health. Approximately 25% of patients will abandon their drug prescription if their co-payment exceeds $100, according to Wolters Kluwer Pharma Solutions.
About OptimizeRx Corp
OptimizeRx Corporation (OTCQB:OPRX) provides unique consumer and physician platforms to help patients better afford and comply with their medicines and healthcare products, while offering pharmaceutical and healthcare companies effective ways to expand awareness, access and adherence to their medications.
The company’s core product, SampleMD, replaces drug samples with electronic trial vouchers and copay coupon savings that are electronically added to an e-Prescription and sent electronically to the pharmacy and is integrated within leading electronic health record (EHR) platforms in the country, including Allscripts, Quest Diagnostics, Practice Fusion and over 350 other EHRs to reach over 250,000 healthcare providers. In turn, OptimizeRx promotes patient savings and support from the world’s largest pharmaceutical companies, including Pfizer, Lilly, Novartis, AstraZeneca and many others. For more information, visit www.optimizerxcorp.com.
About RxWiki Inc.
RxWiki Inc. is a rapidly growing Digital Health company connecting pharmacies and patients through its Digital Pharmacist SaaS platform (www.digitalpharmacist.com) and RxWiki consumer brand (www.rxwiki.com). The Digital Pharmacist SaaS platform enables over 1,300 specialty and community pharmacy websites, mobile applications and email newsletters. Patients can request refills and obtain the latest information about their medication through pharmacy branded websites and mobile apps. RxWiki.com is a medication information website edited and approved by pharmacists, with over 20,000 original articles, 7,500 health-related videos, 100 disease condition channels, co-pay assistance programs and a free “Ask a Pharmacist” service. More than 3,700 community pharmacies syndicate RxWiki’s content to engage with patients on social media and increase their brand awareness. RxWiki Inc. completed a series A funding in October 2015, raising $5.75 million from investors including LiveOak Venture Partners and Milestone Venture Partners LP. The company is headquartered in Austin, Texas.
RxWiki Contact:
Guy MacNeill, Vice President of Marketing
512-689-3288
guy@rxwiki.com
OptimizeRx Contact:
Doug Baker, CFO
248-651-6568 x807
dbaker@samplemd.com
Investor Relations Contact for OptimizeRx:
Liolios Group
Ron Both, Senior Managing Director
949-574-3860
oprx@liolios.com
