PokitDok, an API platform to free, secure, and unify data has acquired the pharmacy and software assets of Oration PBC. The acquisition enables PokitDok to complete support for delivery of essential commercial pharmacy benefit data, via its APIs, so organizations, providers and consumers have tools to make better healthcare and treatment decisions. Financial terms of the acquisition were not disclosed.
To augment its existing pharmacy and clearinghouse services, this strategic purchase grants PokitDok access to commercial pharmacy benefit coverage, formulary, price, and in-network information. PokitDok introduced Pharmacy Benefit and Eligibility tools in 2016 to serve the more than 16 million Medicare Advantage Beneficiaries and 40.5 million who rely on Medicare Part D Prescription Drug Benefit Plans. PokitDok’s pharmacy solutions give physicians, EMRs, and other digital health innovators insight into which medications are covered by a member’s insurance plan before prescribing, and ensures those drugs are available for pick up from a qualified, in-network pharmacy, for a price the consumer can afford.
“This acquisition rounds out our healthcare enterprise business offering by providing the necessary requirements to process commercial pharmacy benefit transactions that play such a meaningful role in the pharmacy supply chain,” said Lisa Maki, co-founder and CEO, PokitDok in a statement. “This strategic investment helps us meet the inbound demand for commercial pharmacy benefit information that can now be built into new digital health applications at scale. It also puts us in an advantageous position to realize new supply chain efficiencies through DokChain as blockchain continues to become increasingly relevant in the business of healthcare.”