RxRevu, the leading provider of integrated decision support tools which improve patient access to care, announced a strategic partnership with Seattle-based Providence Ventures. The partnership includes a new investment which will enable RxRevu to further scale its decision support capabilities and product portfolio with strategic guidance from Providence.
“At RxRevu, we are dedicated to improving care decision-making for as many patients and providers as possible,” said Kyle Kiser, CEO of RxRevu. “This partnership will further align us with a health system committed to lowering patient costs and solving some of the most difficult healthcare challenges. By empowering providers with accurate data, we can drive value in every patient interaction, streamline processes that prevent efficient care, and deliver superior health outcomes for all.”
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The investment and expanded partnership come one year after Providence deployed RxRevu’s Real-Time Prescription Benefit solution, giving providers the ability to quickly and easily find medication alternatives specific to each patient’s health needs and insurance benefits. Since launch, over one million prescription transactions have taken place at Providence within the RxRevu solution. RxRevu will continue to work closely with the Providence team to display meaningful data at the point-of-care and develop product enhancements that drive ongoing utilization and value.
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RxRevu’s Real-Time Prescription Benefit solution facilitates cost-effective prescribing at over 500 health systems across the country, including the entire Providence system, which consists of more than 50 hospitals and 1,000 clinics in seven states. For Providence’s 25,000 providers, RxRevu enables the viewing of previously inaccessible patient out-of-pocket cost information, coverage restrictions, and lower-cost alternatives before prescription orders are completed. With this data available in the electronic health record, patients can trust they are receiving affordable and clinically appropriate care. In addition to helping patients and providers select cost-effective options, the solution also benefits support staff by reducing pharmacy call-backs, prior authorization volumes, and other administrative burdens.
“Our investment in RxRevu aligns with our brand promise of “Know me, care for me, ease my way” by enabling visibility into medication options that are personalized and affordable for the patient” said Aaron Martin, Managing General Partner of Providence Ventures and Chief Digital Officer of Providence. “We are eager to continue our work together and develop new capabilities that will empower patients and providers nationwide.”
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