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VativoRx: Moving the Needle on Pharmacy Benefit Management
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Lisa Quarterman, CEO and Managing Partner, VativoRx
In the past decade, prescription drug spending became the fastest-growing healthcare category, consistently outpacing other health spending. The soaring prices of prescription drugs pose a challenge to the US healthcare system since this surge in price can potentially restrict patient access and health outcomes. Industry experts are actively seeking ways to control pharmaceutical costs, and this puts a strong focus on pharmacy benefit managers (PBM) who have a significant impact on healthcare spending, out-of-pocket patient costs, and, ultimately, drug affordability and access.
Florida-based VativoRx offers full-fledged pharmacy benefits management services to a broad range of businesses and makes a growing impact in the healthcare ecosystem by reducing drug costs and enhancing patient outcomes. The company established itself as a trusted source for full-service, innovative, leading solution provider in PBM.
VativoRx is in a class by itself when it comes to providing innovative PBM services and solutions, thanks to its established industry expertise. The company has been providing pharmacy benefit expertise as a service across the country for more than two decades. With Lisa Quartermanat the helm as the CEO and managing partner, VativoRx is wholly aware of its role and functioning in providing something that could potentially save someone’s life. This motivates the company to perform swiftly and effectively, ensuring no hiccups or lapses occur in their services. The company specializes in the delivery, affordability, and clinical management of prescription medications. The long-established relationships they share with healthcare organizations and third-party administrators enable the company to design and manage PBM programs comprehensively.
Despite the pandemic, VativoRx evolved by leaps and bounds. The company launched the first version of its internal software application called VRX Connect to assist with its day-to-day business.
Our customers will get the ability to track things happening with their rebate management and pharmacy costs from any device, be it a desktop, iPod, or mobile phone
The company is currently working on phase three and is all set to implement VRX Connect in its operations. “The software enables customers to have more transparency in the services. They will get the ability to track things happening with their rebate management and pharmacy costs from any device, be it a desktop, iPod, or mobile phone,” says Lisa.
VativoRx adopts a unique customer engagement strategy. When it comes to pharmacy management, employer groups usually, be it large or small, adopt a standard healthcare plan. However, VativoRx’s clinical team will sit down with their clients and determine whether they fit in the standard or need to customize something. To elucidate the same, Lisa mentions how VativoRx helped a client who had been catering to a population from a remote area with a high rate of diabetes and lactose intolerance. VativoRx investigated the client’s previous drug spend and developed a plan to flag medications that has lactose in them. The company created another plan to tackle the diabetes issue, which is outside of the norm of what they typically do.
In yet another instance, VativoRx had a client that caters to a large number of cancer patients and had to spend thousands of dollars for specialty drugs. VativoRx entered the picture, implemented a plan to monitor every cancer patient and their prescriptions. Through their relationship with drug manufacturers, innovations, and technology, the company was able to bring down the client’s pharmacy spend significantly.
Forging ahead, VativoRx has expanded its sales force across the country to focus on traditional PBM business. The company looks forward to growing in the traditional PBM business and become a difference-maker in that market, focusing on the middle market clients. “To move ahead of the curve, we are constantly looking for solutions complying with the government regulations and want to be the first one to come up with innovative solutions in the industry,” concludes Lisa.
Management Lisa Quarterman, CEO and Managing Partner, VativoRx
Description VativoRx is a full-service, innovative, leading solutions provider in PBM, specializing in the delivery, affordability, and clinical management of prescription medications. Relying on technologically superior systems, the company designs and manages prescription benefit program that provide cost savings and enhanced health outcomes. Their suite of solutions specializes in the delivery, affordability, and clinical management of prescription medications and delivers the same rich slate of programs and benefits across all lines of business including third party administrators, employers, hospitals, Medicare part D etc. VativoRx, with their services, offers a true alternative to the status quo in pharmacy benefit management
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