Free Market Health offers a cloud-based marketplace platform that streamlines specialty pharmacy referrals and reimbursement processes, ensuring efficient medication delivery to patients. The platform provides real-time tracking of referrals and pharmacy performance, enabling payers and pharmacies to optimize costs and enhance patient outcomes.
Funding
$35.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
QCFounders
Product
Problem
The specialty pharmacy referral process is often inefficient, lacking transparency and real-time data, which leads to delays in medication delivery and suboptimal patient outcomes. Payers and pharmacies struggle to manage costs effectively due to limited visibility into referral status and pharmacy performance.
Solution
Free Market Health provides a cloud-based marketplace platform designed to streamline specialty pharmacy referrals and reimbursement. The platform facilitates real-time matching of referrals and pharmacies, ensuring patients receive the right medications quickly. By offering dynamic, patient-level rates and real-time pricing, Free Market Health enables better cost management and improved patient care. The system also provides tools for systematic referral stratification and routing, helping to match patients with the appropriate level of care.
Target Audience
The primary customers are payers (health plans) and specialty pharmacies of all sizes seeking to optimize resources, manage costs, and improve patient outcomes in the complex specialty medication market.
Features
- Dynamic marketplace with real-time pricing for specialty medications
- Automated referral stratification and routing based on patient needs
- Real-time tracking of referral status and pharmacy performance
- Value-based care reimbursement framework with built-in incentives and accountability
- Tools for managing specialty medication spend and monitoring performance
- Fair access to payer-authorized referrals for specialty pharmacies
- Opportunities for pharmacies to earn care incentives for providing high-value care