FutureRx Launches Healthcare Platform For Health Plans and PBMs
FutureRx (FRx) announced today the launch of its first-of-a-kind healthcare platform for health plans and pharmacy benefits managers (PBMs) that combines modular technology solutions and, if needed, seamless access to pre-vetted fully integrated service providers on a single platform. FRx is a cloud-based, modular, user-configurable technology platform that was built from the ground up to meet complex and continuously evolving compliance requirements in today’s Medicare and Medicaid environment. As such, it is 100% compliant with government-sponsored regulations out of the box.
Once on the platform, health plan and PBM users can select from a full range of technology modules – including Rx Prior Authorization, Appeals/Grievances, Part D Stars, Drug Management Programs (DMP) and more – that are preconfigured out of the box with workflow and letters, and fully integrated with SureScripts and CoverMyMeds, as well as fax, phone, email, and mail capabilities that eliminate costly and time-consuming implementations.
If additional support service is needed by our customers, the FRx Marketplace provides access to a comprehensive network of pre-vetted partners that deliver a full range of specialized services. These services include, but are not limited to, customer service, formulary and rebate management, prior authorization, appeals and grievance management, mobile low-cost drug alternatives, and more. FRx Marketplace service partners are fully integrated with FRx technology modules for rapid go-to-market and hassle-free service changes.
As an added benefit, FRx customers can utilize their excess capacity or specialized skill set to sell their services on the FRx Marketplace — gaining a revenue stream without needing to retrain their staff.
“The FutureRx model is a game-changer that puts control back into the hands of the health plan or PBM. By offering the flexibility to scale services up or down as needed with pre-configured connections, FRx prevents vendor lock-in and eliminates the costs and headaches involved with service provider integrations,” said Anil Kottoor, founder and CEO, FutureRx. “Importantly, our customers can switch between vendors on the FRx Marketplace whenever and as often as they like without compromising their data, which remains on the FRx platform and always under the customer’s control.”
“Our goal with FRx and the FRx Marketplace is to let health plans and PBMs take back control of their business processes by eliminating the hassles of vetting, contracting, and managing key outsourced service relationships,” said Mark Francen, chief product officer, FutureRx. “It represents the culmination of years of research by our team of highly experienced healthcare and technology innovators into the ways traditional PBM and health plan relationships fall short and the best approaches to correct those shortcomings.”