Medvantx, a healthcare technology and services company, has launched Medvantx Insights, a fully integrated, non-commercial pharmacy platform, and announced executive leadership expansions to further its mission to advance medication and healthcare access to individuals throughout the country, including those who are underinsured or uninsured.
Medvantx Insights merges the company’s decades of experience with advanced technology solutions to leverage its 99.98% prescription order accuracy, expanded deliveries and accessibility. The platform delivers operational, compliance and financial insights to manufacturers through advanced analytics and uses API-based integration across technology platforms for seamless access. Additionally, it ensures flexible prescription management and effortless patient-provider interaction experiences.
Under the leadership of CEO Prasanna Parthasarathy, appointed in May 2022, Medvantx restructured operations to leverage the power of patient assistance programs. Key leadership appointments include Joy Neely as Chief Commercial Officer, Micah Benford as Chief Medical Affairs Officer, Evan Brugger as VP of Strategy and Business Development, Jennie Metenosky as SVP of Customer Experience, and Courtney Ray as VP of People and Culture. These executives will lead the company through growth as it expands operations and job opportunities at its cutting-edge facilities in Sioux Falls, South Dakota and Louisville, Kentucky. The company is now the country’s largest independent, non-commercial dispensing pharmacy and will operate solely under the Medvantx brand name, absorbing the Vytal brand name by the end of 2022.
Medvantx collaborates with multiple manufacturers — and is set to deliver more than 2 million prescriptions this year — offering patients pharmaceutical choices at scale. It partners with more than 25 patient assistance programs, including four of the nation’s top 10 pharmaceutical manufacturers to ensure no patient is left behind due to financial barriers. PAPs are designed as a safety net for individuals who cannot afford their medications and are typically funded by manufacturers’ endowed foundations. Covering or reducing the cost of medications for some patients provides resiliency against hardships and is clinically significant by encouraging timely access to therapeutics and adherence to medication regimes. A lack of prescription adherence costs the U.S. more than $528 billion a year due to morbidity and mortality, according to the PAN Foundation.
“Medvantx is paving the way for access to critical medication by removing barriers to prescription access for all,” said Parthasarathy, CEO of Medvantx. “Through our fully integrated pharmacy services supported by decades of expertise and innovative technology solutions, our partners are able to create better patient experiences by increasing accessibility via cash pay, custom pharmacy solutions and free drug programs.”
Medvantx offers its pharmaceutical manufacturing partners ambient and cold chain solutions, prescription fulfillment safeguards such as barcode scanning technology and a cash pay program. Additionally, it works with multiple carriers to deliver direct-to-patient to any physical address or post office box in the U.S. Through its partnership with UPS, the company is the first in the industry to offer extended hours beyond the runway through a mail order pharmacy. Patient services include 24/7 counseling and education with licensed pharmacists, prescription verification and accuracy, prescriber outreach, and medication utilization review.