Technology Firm Revolutionizing the Specialty Prescription
By: AssistRx, Inc
ORLANDO, Fla. - July 9, 2014 - PRLog -- In July of 2010, Orlando-based technology firm AssistRx, Inc. introduced a new technology that simplifies the prescribing of specialty therapies while streamlining communications between prescribers, specialty pharmacies, patients and biotech manufacturers. It’s smart technology that can lead to patients receiving specialty medications weeks earlier than ever before.
Called iAssist®, the solution gives healthcare providers access to a web-based application that can eliminate the cumbersome process of prescribing a specialty “high cost” therapy. Beginning with one specific drug manufacturer to help solve the issues they were having in “delays to therapy” with their close to $6,000 a month Multiple Sclerosis drug, iAssist is now contracted and utilized by most of the worlds leading biotech and pharmaceutical companies.
AssistRx, created by specialty pharmacy veterans Edward Hensley and Jeff Spafford, created the technology after years of experiencing the antiquated way of prescribing high cost specialty medications, which was primarily “paper and fax.” “As providers become more sophisticated users of technology, manufacturers are looking for ways to utilize technology as part of their access message. That’s where iAssist comes in” states co-founder Edward Hensley. In one transaction, a registered user can not only write for a specialty therapy but can initiate a Prior Authorization required by the health plan, collect patient consent for services, provide co-pay assistance for patients not able to afford their copays and enroll them in all the services the manufacturer has to offer the patient while undergoing therapy. “Our technology also eases the process for the prescriber by locating patient insurance and providing them with other unique capabilities that makes the old and cumbersome way exactly that – the old and cumbersome way,” states Hensley
The timing could not be more perfect. The success of iAssist now coincides with upcoming legislation in New York requiring electronic prescriptions for all drugs, both controlled and non-controlled. This regulation, which mandates a shift in the healthcare industry from manual to electronic prescription processes, aims to improve and monitor prescription accuracy and misuse. Similar legislation is pending in other states.
In expanding its customer portfolio, AssistRx is now working with national health plans and pharmacy benefit managers (PBM’s) on strategies to use its technology platform to drive patients toward Centers of Excellence in the fast-growing, high-cost specialty channel.
Preparing for the future, AssistRx is engaged in phase 2 development of their solution; iAssist OneClick. An integration point into widely used electronic medical records (EMR’s).
“We are fortunate to have first hand, real life experience in what all the stakeholders we work with today suffer from. Specialty Pharmaceuticals are the fastest growing cost drivers in healthcare today. Our product portfolio represents therapies that cost anywhere from $40,000 to $300,000 annually. We offer our end users a way to prescribe these products without suffering from the increasing barriers and delays that come afterwards. In the end, we offer our end users the ability to practice medicine without limitations.”
A technology-based company located in Orlando, AssistRx applies an array of expertise to advance patient access to specialty therapies. iAssist®, AssistRx's flagship product is a state-of-the-