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UPMC Makes Strategic Investment in Predictive Analytics Startup RxAnte

by Jasmine Pennic 10/06/2016 Leave a Comment

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UPMC Enterprises, the commercialization arm of University of Pittsburgh Medical Center has acquired all of Millennium Health’s interest in predictive analytics startup RxAnte. Financial terms of the deal were not disclosed. As part of the deal, RxAnte will continue to operate as an independent company led by its existing management team.

 

Founded in 2011, RxAnte’s technology and clinical services enable its clients to improve clinical care quality and avoid unnecessary costs. UPMC Enterprises plans to utilize the investment to will accelerate product development in collaboration with clinical experts at UPMC. Additionally, RxAnte plans to expand its offerings for Medicare, Medicaid and commercial populations, with particular focus on analytics and clinical programs that lower total cost of care. The company also intends to extend its predictive models and workflow tools to the management of high-cost specialty drugs.
 
UPMC Health Plan has been a customer of RxAnte for the past three years, the company’s solutions have optimized medication use, saving excess medical costs and directly contributing to the plan’s superior Star Rating performance on medication adherence measures by the Centers for Medicare & Medicaid Services.
 
RxAnte currently manages medication use for nearly 7 million people on behalf of health insurers, providers and other stakeholders confronting the urgent challenge of improving safe and effective prescription drug use.

“RxAnte’s technology and services have been a key driver of our stellar performance in ensuring that our members receive the appropriate medications for their conditions, leading to better patient outcomes and effective cost management,” said William H. Shrank, M.D., chief medical officer for the UPMC Insurance Services Division in a statement. “With UPMC’s clinical expertise and the Health Plan’s strength in analytics, we look forward to supporting RxAnte’s product development and advancing our joint goal of providing the highest value from prescription medications.”

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Tagged With: RxAnte, UPMC Enterprises

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