Overview
PharmD Live is a virtual clinical pharmacist solutions company based in Washington, United States, specializing in chronic care and telehealth solutions. It focuses on medication risk management and disease oversight using a clinical pharmacist-led approach combined with AI-driven telehealth technology to enhance healthcare outcomes and reduce care costs. PharmD Live generates an annual revenue of $4.8 million and operates with a team of 43 employees.
Mission and Solutions
PharmD Live's mission is to tackle significant healthcare challenges like adverse drug events, the 4th leading cause of death in the U.S. Its broad services portfolio aims to reduce these incidents and improve chronic care management. The primary solutions include:
- Chronic Care Management: Provides disease oversight and education to patients and caregivers.
- Remote Patient Monitoring: Advanced devices for real-time data capture enabling proactive clinical interventions.
- Medication Management Programs: Ensures adherence and minimizes adverse drug incidents through pharmacogenomics and therapy management.
- Transitional Care Management: Aims to reduce hospital readmissions through effective transitional support.
- Annual Wellness Visits: Tailored disease prevention plans optimize patient health.
Leadership
PharmD Live's leadership is headed by Cynthia Nwaubani, CEO, President, and Founder. The management team comprises:
- Anar Verdiyev - Co-Founder
- Richard Korecky - Director of Pharmacy
- Murtaza Bhatti - Vice President of Population Health and Innovations
- Elizabeth Acosta - VP, Finance
Funding and Financials
PharmD Live has secured approximately $1.38 million in seed funding against a pre-money valuation of $9.13 million. Recent funding rounds focus on expanding service offerings and enhancing profitability in value-based care environments.
Target Market and Partnerships
PharmD Live collaborates with diverse healthcare providers, including:
- Physicians and Hospitals
- Post Acute-Care Facilities
- Healthcare Payors
- ACOs/IDNs
Its telehealth solutions target patients with multiple chronic conditions where effective medication management and predictive analytics can substantially improve patient outcomes.
Industry Context and Impact
PharmD Live addresses medication noncompliance, a leading cause of treatment failures and hospital admissions. With an aging population and rising chronic diseases, healthcare costs are expected to increase significantly, underscoring the need for value-based care solutions like those from PharmD Live. By integrating advanced clinical and technology solutions, PharmD Live positions itself as a significant player in the telehealth sector, promoting collaboration across health systems to enhance efficiencies and reduce costs. Its unique partnership models and comprehensive care focus make it an essential contributor to the healthcare delivery transformation.
For more information, visit the [PharmD Live website](https://www.pharmdlive.com/).
Key Competitors
1. Express Scripts
- Industry: Healthcare, Pharmaceuticals
- Revenue: USD $100.065 billion (2017)
- Employees: 26,600 (2017)
- Overview: A major pharmacy benefit management company, it offers services like network-pharmacy claims processing and specialty pharmacy benefit management. A subsidiary of Cigna, headquartered in St. Louis County, Missouri, with a focus on integrated pharmacy benefit management under its Evernorth brand.
2. Truveris
- Industry: Pharmacy Benefits Solution
- Founded: 2009
- Employees: 51-200
- Overview: Based in Wilmington, Delaware, Truveris focuses on prescription drug ecosystem transparency and cost reduction through pharmacy benefits procurement and analytics. Collaborates with entities like Mark Cuban Cost Plus Drug Company.
3. MedImpact Healthcare Systems
- Industry: Pharmacy Benefit Management
- Employees: Approx. 1,700
- Overview: Leading independent pharmacy benefit solutions provider focusing on claims processing and network management. Prioritizes client needs over shareholder interests.
4. Prescryptive Health
- Industry: Healthcare Technology Systems
- Employees: 212
- Overview: Provides a prescription intelligence platform based in Redmond, Washington, facilitating transparent prescription management for consumers.
5. Orb Health
- Industry: Chronic Care Management
- Founded: 2011
- Overview: Offers collaborative care technology focused on chronic care management. Based in Richardson, Texas, enhancing virtual care capabilities for scalable patient access solutions.
Strategic Insights
PharmD Live should leverage its unique pharmacist expertise combined with AI-driven telehealth capabilities to differentiate itself from larger competitors like Express Scripts that may not provide personalized, pharmacist-led engagement. Establishing partnerships similar to Truveris's collaborations can extend PharmD Live's impact. Also, integrating advanced technology solutions akin to those used by Prescryptive Health can enhance customer engagement and prescription management.
