Waltz Health introduces Marketplace Search, a tool that gives pharmacies comprehensive information about available prescription savings programs, led by industry veteran Mark Thierer and a team of healthcare veterans.
Many Americans are unable to afford their prescriptions, and millions more admit they skip refills or ration medicines due to affordability. The cost of prescription drugs is predicted to rise again this year, so Waltz Health has launched a new program to help combat the rising costs.
Digital healthcare company Waltz Health is developing smarter, technology-enabled ways of pricing, distributing, and prescribing medications. Moreover, the company announced today that it had raised $35.4 million from GV (formerly Google Ventures), as well as Define Ventures, Echo Health Ventures, Blue Venture Fund, Byers Capital, and Twine Ventures. Funding was also provided by a prestigious list of healthcare executives.
Waltz Health is focused on fixing the high costs and challenging experiences associated with the U.S. pharmaceutical supply chain. Mark Thierer, who served as Chairman and CEO of Catamaran following UnitedHealth Group’s acquisition of OptumRx, leads the company. In partnership with all industry stakeholders, Waltz Health delivers digital tools to provide consumers with information and access to better drug pricing.
„We are realigning incentives in the existing drug supply chain to lower prescription drug prices and give consumers back control. Mark Thierer, co-founder and CEO of Waltz Health, said, “Our mission is to connect consumers with programs to save money on life-saving medications by partnering with pharmacies.”. “We deliver software-driven solutions that solve the biggest challenges in the pharmaceutical industry.”. At Waltz Health, we have an excellent reputation for creating software at scale that solves the most challenging challenges today. By understanding how the current system works, we can break down these barriers. A roadmap for creating free-market machinery to lower the cost of drugs has been outlined – and wrapped in a ‘new-to-the-world’ member experience. The center of our universe is the consumer.
The first application Waltz Health will launch is Marketplace Search, an online search engine that pharmacies will make available to their customers. Marketplace Search presents consumers with comparable prices for their medications using a curated mix of drug-discount data sources. By analyzing and displaying the most relevant and appropriate drug prices available on the market to consumers, Marketplace Search is powered by artificial intelligence (AI) and driven by consumer choice.
Pharmacies can benefit from Marketplace Search by enhancing their customer experience, building customer loyalty, and avoiding many of the abrasions and challenges they face using today’s solutions. Throughout this year, Waltz Health will announce several partnership agreements with major pharmacy chains.
“Waltz Health has developed a method of paying for prescription medications that is more transparent and patient-centered. Mark Thierer and the executive team understand the complex dynamics of the healthcare sector better than most,” said Ben Robbins, Venture Partner at GV. “We believe the company’s leadership and technology-driven approach to reduce prescription costs will significantly affect the market, and we’re proud to be early investors.
A curated roster of domain experts lead Waltz Health, driven to improve the healthcare industry through operational and systemic change. Over 200 years of healthcare industry experience, spanning pharmacy benefits management (PBM), data science, medical policy, and supply-chain landscapes, has been accumulated by the team.
Especially for those who suffer from multiple chronic conditions, prescription drug affordability is a persistent problem. Define Ventures Founder and Managing Partner Lynne Chou O’Keefe described the complex and confusing pricing system supporting our healthcare system as a burden to consumers, retailers and even payers. “Waltz Health is the first company to drive technology-enabled pricing, distribution and prescribing by partnering with every component of the pharmaceutical supply chain. Waltz Health has a world-class team, cutting-edge product, and a smart go-to-market strategy. We look forward to working with them in the future.”
In addition to investing in product development, Waltz Health plans to grow its team across all areas of business.
WALTZ HEALTH – ABOUT US
Waltz Health provides consumers with online tools that support informed decision-making about their prescriptions. Offering a platform that lowers costs for consumers, payers, and pharmacies through AI, the company offers better pricing options and more information to consumers and helps payers manage their benefits. Mark Thierer and Jonathon Thierer founded Waltz Health in Chicago in 2021, and it has funding from GV, Define Ventures, Echo Health Ventures, Blue Venture Fund, Byers Capital, and Twine Ventures. Visit www.waltzhealth.com for more information.