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SOURCE MedVantx, Inc.
MedVantx MedStart Retail Connect™ Expands Immediate Delivery Modality for Initial Generic Medications at the Point of Care to Now Provide Extended Medication Access and Cost Savings through National Network of Over 64,000 Retail Pharmacies across U.S.
SAN DIEGO, May 15, 2014 /PRNewswire/ -- MedVantx, Inc., a leading provider of point-of-care medication adherence and direct-to-patient consumer engagement programs, today announced the Company's MedStart Retail Connect™ program. This new program expands on the Company's Omni-Channel / HUB services pharmacy strategy to include point of care, home delivery and now retail pharmacy delivery modalities.
In the escalating battle to reach consumers and provide fast access to products ordered over the Internet, internet giants like Amazon, Google and EBay are ramping up new same-day delivery programs to reach impatient consumers. MedVantx pioneered the pharmaceutical industry's first anticipatory delivery channel of free initial generic medication therapy in U.S. physician offices through the Company's proprietary "ATM-like" medication management & sampling program, MedStart Connect™. Through an integrated network of 4,000 physicians, MedVantx has eliminated a key structural gap in primary medication adherence-the fact that 30-50% of initial prescriptions are never filled at the pharmacy. The MedStart Connect program has also been shown to enhance patient satisfaction levels and has fundamentally changed the healthcare consumers' medication access experience.
Through the Company's new MedStart Retail Connect™ program, in addition to receiving immediate access to a free initial medication sample at the point of care, consumers will receive an integrated pharmacy discount card that will enable them to save up to 75% on their prescription medications at network of 64,000 pharmacies across the U.S. This program to encourage secondary adherence, along with MedStart Connect's proven benefit in increasing primary adherence, will continue to expand the overall prescription market.
Driven by the rapid growth in consumerism and the sweeping changes within the Affordable Care Act, the health insurance marketplace is undergoing a structural shift from B2B to B2C marketing channels. According to the 2013 Aon Hewitt Health Care Survey, approximately 56 percent of employers now utilize some form of high deductible or consumer driven plan design for their employees with an average deductible of $3,589. As health plan members become consumers and are empowered to evaluate and make individual healthcare purchase decisions, they are seeking new channels that reduce their out of pocket expenses and create a coordinated and seamless online to brick and mortar experience.
"Consumer satisfaction and engagement is the next frontier for healthcare," said Robert Feeney, Founder and CEO of MedVantx, Inc. "Studies suggest that 40% of chronic prescriptions are never filled which is really a wake-up call to the industry that the current consumer experience and engagement model just isn't working. Retail pharmacies need new tools to respond to emerging e-commerce same day delivery strategies and to differentiate their service offerings to consumers," Mr. Feeney continued. We are excited to work with our retail pharmacy partners to create integrated products and services that eliminate gaps in care and better engage patients in their healthcare.
About MedVantx, Inc.
MedVantx is an innovative medication management and delivery company committed to streamlining access, reducing healthcare costs, increasing medication adherence, and enhancing patient satisfaction while improving patient quality of care and outcomes. The MedStart Connect program provides for a fully-automated, integrated, point-of-care to consumer home delivery channel focused on increasing the quality and cost effectiveness of the last non-managed pharmaceutical channel – the physician office sample closet. MedStart Connect includes free initial therapy samples of prescription and over-the-counter medication at the point of care, a consumer helpline providing drug information, adherence management services, and convenient consumer home delivery through its mail order pharmacy. The national MedVantx network has served over 4 million consumers through an integrated network including health plans, manufacturers and more than 4,000 prescribers in diverse care settings. For company information, visit www.medvantx.com. For information on MedStart Connect, visit www.MedStartConnect.com.
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