Serve You Rx, an independent pharmacy benefit manager (PBM) based in Milwaukee, has partnered with Waltz Health. This new collaboration aims to transform how specialty medications are managed through an innovative platform called Waltz Connect.
Starting May 1, clients of Serve You Rx will gain access to a unique marketplace where specialty pharmacies vie for business by showcasing their quality, clinical outcomes, and pricing. This approach marks a shift from the traditional model, where payers typically have exclusive ties to one pharmacy. Instead, Waltz Connect intelligently directs prescriptions to the most appropriate specialty pharmacy based on various factors, such as cost and fulfillment speed.
“Through this model, we want to create a better solution than the traditional single pharmacy model,” said Mark Thierer, co-founder and CEO of Waltz Health. He emphasized the platform’s goal of establishing a flexible network tailored to patients’ needs.
Justin Jasniewski, CEO of Serve You Rx, highlighted the partnership’s focus on addressing conflicts of interest in the prescription process. “We were looking for a way to provide more value and flexibility for our clients,” he explained.
The urgency for such innovative solutions is underscored by the escalating costs of specialty medications. In fact, specialty drug expenses soared to $301 billion in 2021, marking a staggering 43% rise since 2016, as reported by the U.S. Department of Health and Human Services. These drugs accounted for nearly half of total drug spending that year.
As the partnership evolves, both companies aim to explore additional therapeutic areas, including GLP-1 medications, which are gaining attention for their role in treating conditions like diabetes and obesity. Thierer expressed optimism about integrating further pharmacy and medical management technologies.
This shift in the specialty pharmacy landscape aligns with wider trends seen across the healthcare sector. More companies, like Free Market Health, are emerging to disrupt traditional models, focusing on patient needs and more transparent pricing.
As healthcare continues to evolve, partnering innovative technologies with patient-centric approaches may be key to addressing the growing challenges in the pharmaceutical landscape.
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