FAQ: Custom Health's Acquisition of PatchRx and Its Impact on Medication Adherence Technology
Summary
Custom Health has acquired PatchRx, a medication adherence technology company, to enhance its connected care platform with real-time monitoring of patient medication compliance, aiming to improve outcomes for chronic condition management and reduce healthcare costs.
What is the main purpose of Custom Health’s acquisition of PatchRx?
The acquisition integrates PatchRx’s medication adherence technology into Custom Health’s connected care platform to enable real-time monitoring of patient medication compliance, improve care for chronic conditions, and lower healthcare costs.
How does PatchRx’s technology work to improve medication adherence?
PatchRx uses patented PatchCap smart pill bottle caps that provide real-time visibility into medication compliance through seamless software and hardware integration, allowing clinicians to intervene early and patients to manage medications more effectively.
Why is this acquisition significant for patients with chronic conditions?
It addresses the high prevalence of chronic conditions (nearly 60% of adults have one, 40% have two or more) by enhancing real-time adherence monitoring and swift support to improve clinical outcomes.
Who are the key people involved in this transaction from PatchRx?
PatchRx’s co-founders Andrew Aertker and Gavin Buchanan, along with key employees in sales, engineering, and finance, are joining Custom Health to advance the mission of connecting patients, providers, and payors.
What specific application does Custom Health highlight for PatchRx’s technology?
Custom Health emphasizes the value of PatchCap technology for monitoring patients taking pain medications, particularly opioids prescribed for as-needed use to treat breakthrough pain, supporting their strategic focus on pain management.
Where is PatchRx’s technology currently used?
PatchRx’s technology is used in clinics and pharmacies across the U.S. to remotely monitor and improve patient adherence.
How does this acquisition benefit healthcare providers?
It gives providers visibility into medication adherence where they previously had none, enabling early intervention to prevent adverse outcomes and assess treatment effectiveness through real-time data.
What is Custom Health’s overall approach to healthcare?
Custom Health is a vertically integrated, tech-enabled platform that combines pharmacy, technology, and remote clinical care to ensure patients take medication as prescribed and therapy works as intended.
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