At a time when access to affordable healthcare matters more than ever, RxSense has been working to develop innovative technologies to put treatment options and medicine directly into the hands of those who need it most. While technology has been moving forward at light speed the past few decades, much of the pharmacy benefits administration industry has failed to pick up the pace.
Pharmacy benefits tech platforms can falter due to a lack of transparency and ease of use, so RxSense CEO Rick Bates founded the company with the goal of developing flexible solutions that promote efficient management and greater across-the-board access to prescriptions. The company helps over 6 million consumers find the lowest market price for their prescriptions through its brand SingleCare.
Continued growth seems inevitable with a recent investment from private equity firm Parthenon Capital. While the terms of this investment have not been shared, Parthenon Capital is a big player in the field, currently with more than $5 billion in total commitments. A high-growth company, RxSense will likely continue to expand at a good clip with such solid backers.
RxSense expanded their leadership last year, bringing in new Chief Technology Officers for both their Enterprise and Consumer divisions. With experience from tech giants like Facebook, Google, and Dropbox, the new CTOs have helped engineer the transformative solutions needed for consumers to receive treatment with minimal hassle.
Highly secured cloud-based technologies help the company create platforms that safely keep patient records out of file cabinets and at doctors’ fingertips. Healthcare providers can now track patient history and refer to current medications with a click of a mouse, rather than having to utilize obsolete machinery like fax machines. This transparency and ease of use will enable healthcare providers, pharmacists, and patients to keep open lines of communication for safe, fast delivery of medication. Prescription saving options can help consumers cut the cost of drugs by up to 80%. Direct contracts with pharmacy powerhouses like Walgreens and CVS make RxSense accessible across virtually all U.S. demographics.