The Health Tech Startup Overhauling Pharmacy As We Know It

What Aspen RxHealth Does

Aspen RxHealth’s pharmacist-facing mobile application matches 7,000+ clinical pharmacists on its platform with health plan members for consultations to improve medication efficacy and outcomes. Matches are made based on clinical and social factors (geographic location, language, chronic conditions), and pharmacists review medications, provide education, and deprescribe when necessary, during consultations.

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Aspen RxHealth’s Current Landscape

With more Americans turning to mail-order pharmacies for cost savings on their prescriptions, they’re losing access to vital in-person consultations with their local pharmacists, who are well-versed in their medical history and medication(s). Despite the increase in popularity for mail-order pharmacies, pharmacists still face more pressure and stress than ever before. Between impatient customers, dispensing quotas and ever-increasing administrative responsibilities, many pharmacists have begun looking for new ways to leverage their education and expertise to care for patients more directly.

Aspen RxHealth fills this void while improving working conditions for the pharmacists working on its platform. For these pharmacists, many of whom have joined after working for large chains, the platform provides an entrepreneurial lifestyle where they can run their own practice, work from anywhere, and earn as much or more than they would in traditional pharmacy environments, on their own schedules. Most importantly, they are offered more time to meet patient care needs free from the burdens of traditional environments.

Company Birth Story

Years ago, Aspen RxHealth’s co-founder and CEO, David Medvedeff’s grandmother was in a nursing home facility and began falling repeatedly. A young pharmacist at the time, David reviewed her medication list and uncovered that she was mistakenly prescribed medication to manage a prostate, an obvious error. The medication came with the side effect of lowering her blood pressure upon standing, which resulted in her continual falling. Fast forward to 2018, and David along with the co-founding team of Aspen RxHealth, knew there must be a better solution to utilize the untapped power of pharmacists, so they decided to build it. Aspen RxHealth was born out of a desire to provide new, better opportunities for pharmacists, while simultaneously connecting patients with a powerful healthcare resource that had been underutilized for far too long–pharmacists.

The Solution

Alliance by Aspen RxHealth, which debuted in October 2022, is the company’s latest solution. It allows health plans’ in-house pharmacy teams to utilize its proprietary platform and support services to complete pharmacy consultations for their member populations. Proactive adherence management is a vital aspect of these consultations to ensure that patients being treated for chronic conditions such as diabetes, hypertension, and high cholesterol maintain medication adherence.

Should a health plan’s capacity to complete consultations be insufficient, Aspen RxHealth’s community of over 7,000 pharmacists is standing by, able to augment efforts and ensure all members receive the care they need without forsaking their experience. The platform automates the intelligent matching of members with pharmacists based on language, location, and pharmacist specialty to optimize medication use and health outcomes. Once matching occurs, consultation opportunities are presented to pharmacists through an iOS application, and members receive a phone call from the pharmacist best attuned to their personal and medical background.

The solution eliminates substantial investment from health plans to create and support homegrown technology platforms and operational infrastructure, while also reducing operational risk and burden placed on payers. As a result, health plans around the country using Alliance by Aspen RxHealth are lowering costs, increasing efficiencies, and keeping members healthier while leveraging their in-house pharmacy teams to conduct outreach.

A Customer Story

Healthfirst, headquartered in New York, NY, is one of the largest not- for-profit health insurers in the tristate region, which offers affordable health plans to its 1.8M+ members. Alliance by Aspen RxHealth enables Healthfirst’s in-house team to use its technology platform so its pharmacists can complete as many consultations as possible with help from Aspen RxHealth’s pharmacists. As a result, Healthfirst improved the patient experience measurably. For instance, during one of these consultations that were facilitated through the Aspen RxHealth platform, a pharmacist learned that a member was using two maintenance inhalers daily from different MDs. The pharmacist alerted and coordinated the treatment plan with both prescribers. As a result, the member continued with the formulary-preferred inhaler, and adverse effects from overuse were prevented.

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The Team Culture

A product for pharmacists, built by pharmacists, the Aspen RxHealth is on a mission to keep patients and members healthy while providing client partners with an efficient, effective, and affordable pharmacy services solution. Many of the nation’s largest health plans are already working with Aspen RxHealth to revolutionize their pharmacy programs.

Aspen RxHealth’s leadership team consists of:

David Medvedeff, CEO and co-founder
Leah Carden, CFO and co-founder
Wuhong Li, CTO and co-founder
Chris Dattaro, COO
Clayton Walberg, CCO
Kim Russo, SVP of Pharmacy Services

From the top down, the entire team at Aspen RxHealth is committed to providing excellent experiences for clients, pharmacists, patients, and employees. Despite being spread across the entire continental United States, the Aspen RxHealth team gathers regularly throughout the year for holiday parties, annual meetings, and team outings. Aspen RxHealth’s inclusive, flexible, and empathetic culture fosters high performing teams and yields strong interpersonal relationships among employees.

A Founder Quote

“For years, the cost and complexity of medications have continued to rise while the industry invests in dispensing efficiency and delivery convenience over patient safety and clinical optimization. Unsurprisingly, there has been a continuous oversupply of clinically trained, passionate pharmacists eager to improve patient lives. It became apparent that this industry is not facing a talent oversupply, but rather a workforce misalignment. Aspen RxHealth comes at a time when the legacy pharmacy is ripe for transformation—and we are proud to be delivering innovative economic models and groundbreaking technology to drive meaningful change and positive outcomes.” – David Medvedeff, PharmD, MBA, Aspen RxHealth CEO and co-founder

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Article originally published by Startup To Follow here.

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