Prescryptive

Prescryptive

Healthcare technology for prescription pricing optimization

About Prescryptive

Simplify's Rating
Why Prescryptive is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Differentiation

Industries

Enterprise Software

AI & Machine Learning

Healthcare

Company Size

51-200

Company Stage

Series A

Total Funding

$26M

Headquarters

Redmond, Washington

Founded

2017

Overview

Prescryptive Health focuses on improving the U.S. pharmaceutical market by creating a more equitable and transparent system that connects patients, prescribers, pharmacies, payers, and pharmaceutical manufacturers. The company offers technology solutions that enhance health outcomes and patient engagement, primarily serving community pharmacies, healthcare providers, and patients. Prescryptive Health uses an AI-driven model to provide insights and tools that help pharmacies establish competitive cash pricing, which in turn boosts their profitability. Unlike many competitors, Prescryptive Health's approach has been recognized for its effectiveness in significantly increasing the financial performance of its clients, such as Chancy Drugs, which achieved a gross profit margin of nearly 54% with the help of Prescryptive's AI Pricing. The company's goal is to optimize health outcomes and create a more transparent pharmaceutical ecosystem.

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Simplify's Take

What believers are saying

  • Partnership with Eli Lilly could expand influence through innovative insulin pricing models.
  • Cameron Olig's hiring may accelerate growth with his market expertise.
  • Transcarent partnership enhances consumer-directed healthcare, setting new industry standards.

What critics are saying

  • Traditional PBMs may view Prescryptive's AI model as a competitive threat.
  • Value-based insulin pricing may face challenges if cost savings aren't realized.
  • Intensifying competition in AI healthcare solutions could pressure Prescryptive's market position.

What makes Prescryptive unique

  • Prescryptive uses AI to optimize cash pricing for pharmacies, enhancing profitability.
  • The company integrates blockchain for secure, transparent prescription management and patient trust.
  • Prescryptive's platform offers Spanish language capabilities, increasing accessibility for Spanish speakers.

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Funding

Total Funding

$26M

Above

Industry Average

Funded Over

1 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$26M
Prescryptive
$30M
Kalshi

Benefits

Paid Vacation

Paid Holidays

401(k) Company Match

Health Insurance

Dental Insurance

Vision Insurance

Health Savings Account/Flexible Spending Account

Stock Options

Growth & Insights and Company News

Headcount

6 month growth

4%

1 year growth

2%

2 year growth

-1%
Hit Consultant
May 2nd, 2024
Ncpa Renews Recommendation Of Prescryptive Ai Pricing: Empowering Pharmacies With Ai-Driven Cash Pricing

NCPA Renews Recommendation of Prescryptive AI Pricing: Empowering Pharmacies with AI-Driven Cash Pricing. by Fred Pennic 05/02/2024 Leave a Comment. What You Should Know:– Prescryptive Health, a leading healthcare technology company, today announced the National Community Pharmacists Association’s (NCPA) renewed endorsement of Prescryptive AI Pricing. – Prescryptive AI Pricing creates a dynamic and competitive cash pricing system, enabling independent pharmacies to thrive in the ever-evolving healthcare landscape. This AI-powered solution empowers independent pharmacies to optimize cash pricing and enhance their competitive edge.NCPA Recognizes Value of AI for PharmaciesNCPA first recommended Prescryptive AI Pricing in 2022, acknowledging its potential to revolutionize cash pricing strategies for independent pharmacies. This renewed endorsement underscores NCPA’s ongoing commitment to supporting its members with innovative solutions.Data-Driven Profitability: AI Delivers ResultsPrescryptive Health recently released compelling data highlighting the significant profitability improvements pharmacies experience with Prescryptive AI Pricing. Their analysis revealed an impressive gross profit margin of nearly 54% in 2023 for pharmacies utilizing the solution.Independent Pharmacies in a Cash-Driven LandscapeThe rise of high-deductible health plans has led to a significant increase in cash-paying customers at pharmacies

PR Newswire
Sep 20th, 2023
Prescryptive Health Announces Cameron Olig As Chief Commercial Officer

Olig joins after nearly two decades at Prime Therapeutics, where he led commercial and government markets and worked with health plan clients.REDMOND, Wash., Sept. 20, 2023 /PRNewswire/ -- Prescryptive Health, a healthcare technology company on a mission to rewrite the script for the U.S. pharmaceutical market, today announced Cameron Olig has joined the company as Chief Commercial Officer. Olig was SVP of Commercial and Government Markets at Prime Therapeutics, where he spent 17 years leading the sales and account management teams to help grow the pharmacy benefit management company to over $30 billion drug spend managed."I'm excited for Cam to join us in our mission to rewrite the script," said Chris Blackley, Prescryptive's CEO and co-founder. "His extensive experience in aggressive go-to-market strategies will create the next evolution of our growth as we continue to change the healthcare space with a network that's built for better outcomes.""I look forward to this opportunity to create a more efficient drug marketplace," said Olig. "I'm impressed with Prescryptive's ability to bring together stakeholders on a common infrastructure that puts transparency and patient care at the center."Olig brings more than 30 years of experience to the role with expertise in working with health plan clients

EpicRx
Jun 29th, 2023
7 Ways AI Can Help Community Pharmacists Grow Their Businesses | EPIC Pharmacies, Inc

EPIC Rx has partnered with Prescyrptive, a pricing engine driven by artificial intelligence that offers competitive pricing for patients while preserving pharmacy profitability.

PR Newswire
Mar 21st, 2023
Prescryptive Health Enhances Ai Pricing Offering On Prescryptivepro, A Platform Built By Pharmacists

The newly renamed platform, built by Prescryptive's in-house pharmacists, offers cash pricing for prescriptions using a proprietary artificial intelligence engine with expanded reporting features.REDMOND, Wash., March 21, 2023 /PRNewswire/ -- Prescryptive Health, a healthcare technology company on a mission to rewrite the script for the U.S. prescription market, announced today a new enhancement for community pharmacists as part of the company's innovative AI-pricing product. Pharmacists who work with Prescryptive will now have access to pricing reports, customizable profit goals, and pricing feedback, offering an in-depth look at how their pharmacy is performing with actionable insights based on Prescryptive's artificial intelligence product.Prescryptive's recent Pharmacy Insights Report found that 42% of pharmacy owners/managers spend more time reviewing prices than they did two years ago. The new Prescryptive AI reports allow pharmacies to quickly see key performance indicators for revenue, saving precious time that can be better spent on patient care while increasing profitability of these essential frontline workers through Prescryptive's proprietary AI pricing engine.The new features run on PrescryptivePRO (formerly called myRx PRO), a secure, HIPAA-compliant platform that empowers pharmacies to be more competitive and profitable through AI Pricing for cash-paying customers.In September, the National Community Pharmacists Association (NCPA) partnered with Prescryptive to recommend the AI Pricing product to its members, helping to make independent pharmacies immediately more competitive by giving them access to cash pricing optimization driven by Prescryptive's AI."Prescryptive is proud to bring pharmacists this technology with the enhancement of actionable business insights," said Paige Clark, VP Pharmacy Programs and Policy at Prescryptive Health. "We are empowering these entrepreneurial business owners and critical healthcare providers with accurate, timely pricing services to help them position themselves for the future."Learn more about Prescryptive AI Pricing at Prescryptive.com.About Prescryptive HealthPrescryptive Health is a healthcare technology company rewriting the script for the US pharmaceutical market. We are building a more equitable and transparent ecosystem that connects patients, prescribers, pharmacies, payers, and pharma manufacturers, empowering consumers to take ownership of their prescriptions

PR Newswire
Jan 31st, 2023
Prescryptive Health Announces New Language Capabilities To Increase Patient Accessibility

The company's prescription shopping and management experience, myPrescryptive, is now available in Spanish, making it easier for more patients to understand and manage their healthcare.REDMOND, Wash., Jan. 31, 2023 /PRNewswire/ -- Prescryptive Health, a healthcare technology company on a mission to rewrite the script for the U.S. pharmaceutical market, today announced new Spanish language access on their mobile-first patient solution, myPrescryptive. Built on blockchain, myPrescryptive gives healthcare consumers ownership of their prescription, delivering pricing options and financial assistance information, pharmacy services like testing and vaccinations, and pharmacy benefit plan information to patients while at their doctor's office, all from their mobile phone.According to a recent U.S. Census Bureau report, nearly 1 in 5 people in the U.S. speak a language other than English at home

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Prescryptive is Hiring for 5 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update Prescryptive's jobs every few hours, so check again soon! Browse all jobs →