Definitive technology platform Free Market Health (FMH) has acquired Beeline Rx, a company that provides a technology solution to streamline the speciality patient onboarding process.
This move is intended to create a patient-centred speciality pharmacy experience that covers all aspects, including prescriptions and more.
The acquisition comes at a time when high costs associated with speciality drugs often necessitate payer approval to ensure treatments are both cost-effective and clinically appropriate.
The current process for initiating speciality drugs is known to be disjointed and prone to errors, leading to delays in patients receiving their medications.
Beeline Rx's technology enhances prior authorisation facilitation by using AI and data interoperability to expedite administrative tasks.
FMH plans to integrate Beeline Rx's technology into its existing marketplace platform to improve processes and the overall patient experience.
FMH founder and CEO Joe Cardosi said: “This acquisition brings us one step closer to a world where starting a speciality medication takes days or hours, not weeks.
“Free Market Health was founded on the belief that modern technology and better alignment across stakeholders can drive better outcomes for the people who matter most: patients. Integrating Beeline Rx’s technology into our solution will help achieve that vision.”
The FMH platform is designed to manage the entire speciality medication fulfilment process.
Beeline Rx's technology will strengthen FMH's prescription intake services, including the company's own non-dispensing pharmacy, which will make it easier to receive and transfer prescriptions.
As part of the acquisition, Beeline Rx's leadership team and several key members will join FMH.
Beeline Rx's co-founder and CEO Steve Fleck will take on the role of chief strategy officer, co-founder and president Josh Cordle will become chief product officer, and co-founder and chief operating officer David Palmer will join as senior vice-president of operations at FMH.
This acquisition is in line with FMH's growth strategy to fulfil the potential of its care-driven marketplace platform.
