Colorado Health Foundation Invests in RxAssurance to Tackle Prescription Medication Adherence and Outcomes
DENVER, CO — The Colorado Health Foundation today announced an investment and mission-focused partnership with RxAssurance. Founded in 2012, RxAssurance is a Denver-based digital health company that works with health care providers and payers to optimize prescription regimens, increase medication adherence and to improve patient outcomes.
The $500,000 program-related investment in RxAssurance is part of the Foundation’s Private Sector Initiatives program, which seeks to increase opportunities to improve the health of Coloradans.
"The Colorado Health Foundation aims to ensure that individuals and families are empowered to manage their own health through access to critical health information that informs health-related actions and decision-making. We also recognize the value of strengthening the delivery of comprehensive, person-centered primary care, and that includes innovative technologies that improve access to comprehensive and integrated care,” said Jesse Wolff, director of Private Sector Initiatives for the Foundation. “We feel that RxAssurance has the right leadership and the right suite of products to contribute to these goals.”
RxAssurance currently offers two products. RxCompanion™ is a patient feedback system that collects, analyzes and reports data related to the patient’s prescription and care experience. RxAdvisor™ is an easily accessible patient dashboard for doctors to better understand their patient's condition between visits. In July 2015, the company will launch a pain medication management platform, OpSafe™, designed to help doctors and patients better manage the growing complexity of prescribing pain-related opioid medications safely.
RxAssurance cuts per capita costs by reducing readmissions and doctors’ visits through targeted communications and provider interventions when patient risk exceeds an acceptable threshold.
The technology has been validated in two pilots. The system uses an application program interface, or API, that can be easily integrated into electronic health record systems used by health care providers, payers, insurers and employers to enroll patients on a large scale.
RxAssurance’s customer base includes Denver Health, who uses company technology to power its “Improve Your Health” initiative, which launched in May 2015.
“Nearly a quarter of a million Coloradans misuse prescription pain relievers every year. We’re extremely excited to be partnering with the Colorado Health Foundation who plays an important role in addressing health issues of the people of our great state,” said Bob Goodman, co-founder, president and CEO of RxAssurance. “Our unique smartphone and web-based solutions are focused on improving the lives of the tens of thousands of Coloradans and millions of patients nationwide that are taking prescriptions related to behavioral health and pain management.”
About the Colorado Health Foundation
The Colorado Health Foundation is singularly focused on helping Coloradans live their healthiest lives by advancing opportunities to pursue good health and achieve health equity through grantmaking, policy and advocacy, strategic private investments and convening to drive change. For more information, please visit www.coloradohealth.org.
RxAssurance believes that technology can make a long lasting, positive impact on the wellbeing of patients. Knowing what happens when a patient leaves the care of their provider is a critical missing piece of the healthcare puzzle. Our solutions are designed to address this critical gap, bringing behavioral economics, the psychology of online user interaction and global availability together to keep patients working their healthy habits that ensure unnecessary hospitalizations and doctor visits happen less often. For more information, visit www.rxassurance.com.