NAPLES, Fla., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Former OptimizeRx CEO and founder David Harrell today announced the launch of his newest endeavor, TranspareRx. The company aims to bring full transparency to prescription pricing and coverage, and is expected to soon introduce Cuverd™, the next-generation prescription savings platform and mobile app.
"Nobody should leave a medical office without knowing the best price for their prescribed medications, or be surprised by a high cost once they get to the pharmacy counter," said Harrell. "One thing most Americans can agree on is that the cost of prescription drugs is way too high, which is why we are setting out to disrupt the industry and bring greater savings to patients."
With Cuverd's proprietary technology, TranspareRx will take the cost mystery out of prescribing for both patients and healthcare professionals. Powered by a simple, user-friendly interface, the platform automatically navigates all the complexities for each unique user to deliver the lowest "out of pocket" price per medication by factoring a multitude of variables in real-time, including medication coverage across 7,000 employers and health plans; estimated copays; eligibility for additional copay savings and other programs; and comparisons to "cash" prices from leading discount card partners. Cuverd also provides less expensive medication alternatives for patients to discuss with their healthcare provider(s).
Unlike stand-alone drug discount card companies who only provide best "cash" prices, Cuverd goes further to also provide savings to the 85% of Americans with prescription insurance who also want to save on their rising copay costs. As one example, a cancer medication that costs thousands of dollars per month can become as low as $0.00 for a patient using Cuverd.
Harrell is a recognized healthcare industry leader who pioneered the development and integration of prescriptions savings and clinical support technology directly into hundreds of Electronic Health Records (EHR) systems during his 10 years leading OptimizeRx. To build TranspareRx, he again teamed up with Karthik Sundaram as Chief Technology Officer, who previously led all aspects of technology at OptimizeRx.
"I am proud we brought prescription savings and support directly into the prescribers' electronic workflow. However, many patients did not always have the savings applied," commented Harrell. "With Cuverd, we now want to bring those savings directly to the key financial stakeholder: the patient."
Through its pharmacy dispensing system integration, patient and provider-facing apps and websites, TranspareRx will be launching customized solutions in partnership with some of the largest retailers, PBMs, employers and healthcare platforms in the country to help their customers, members and employees better understand their medication coverage and available savings.
About TranspareRx
TranspareRx Corporation encompasses a team of proven industry leaders who all share a passion to deliver better price transparency and savings right into the hands of millions of Americans needing help in understanding their prescription costs and available savings on their rising out-of-pocket prescription costs and benefits.
TranspareRx Contact
Julia Bidigare
jbidigare@transparerx.com
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