January 2, 2023. NEW YORK, NY /24-7press release/ — Rx.health, an evidence-based, fully automated care coordination platform, achieved significant growth in 2022, a milestone year that connected patients and physicians to an exponential growth in interactions. Rx.Health’s digital expansion skyrocketed in 2022 with a 4X increase in our end users.
Significant technology investments and strong team additions have strengthened every component of the company, from clinical operations to product development and leadership.
Key highlights include:
Customer growth: Rx.Health connected to over 1.8 million patients this year, with a total of 4.4 million patient interactions. With a 60% increase in engagement rates, the platform reduced physician burden of responses and met market demand for evidence-based solutions to combat physician burnout. The company now offers a library of over 540 customized care pathways, doubling from last year. These automated pathways engage patients and support a variety of disease states and therapies. Customers are now taking advantage of the robust Digital Health Formulary and using the Knowledge Library templates to create new automated care pathways.
ROI results: Recent peer-reviewed studies have quantified the direct ROI results and efficiency gains across the Rx.Health platform. The company successfully achieved a 30-40% reduction in no-show and cancellation rates and achieved an estimated $900,000 in lost revenue recovery per year. At a time when more than half of healthcare systems and hospitals are expected to lose money, Rx.Health’s fully automated, multiple appointment solutions offer caregivers the ability to reduce friction and workflow disruption to procure predictable resources and return to positive financial performance. The platform also helps reduce administrative costs associated with patient involvement in the pre-admission process, as well as post-procedure follow-up visits, surveys and training content. Our platform saves 1 FTE per 1800 procedures.
“Rx.Health has had a phenomenal year thanks to our customers, teammates and partners. In 2022, we increased our enterprise messaging by 10x for a large academic medical center. We provided health equity for a large payer client, providing the operating system for whole person care at a special needs facility in San Antonio. This makes us really proud of the impact of our platform and solutions,” commented Gaurav Narang, COO, Rx.Health
Innovation: The Rx.Health platform has unique capabilities to integrate directly with EHR to provide clinically proven digital assets and more than 500 ways to improve patient care. Over the past year, the platform has added even smarter engagement features, including automated, customized IVR calls with response feedback, multi-channel messaging, and conditional engagement to reach even hard-to-reach demographics.
“Our team is strongly committed to creating a seamless and exceptional experience for healthcare systems and healthcare plans and their customers. This is driving the increase in end users along with the revenue increases we have provided for them. The Rx Health platform has reduced “no-show” rates by 23% in a large radiology department, resulting in savings of $900,000 per year on MRIs alone,” added Richard Strobridge, CEO of Rx.Health. “Even in a challenging economic environment, we firmly believe that the momentum built in 2022 will result in significant early wins in 2023 as we continue to develop and expand our product lines.”
About Rx.Health:
Rx.Health is an evidence-based, automated care coordination platform that is changing the way providers, payers and pharmaceutical companies think about digital medicine. A spin-out of the Mount Sinai Health System, Rx.Health offers the first EHR-connected digital health prescribing platform and over 250 care pathways for all health system service lines and multiple disease states and therapies. Rx.Health enables physicians to prescribe evidence-based mobile health applications, DTx, multimedia education, wearables, and remote monitoring programs for patients either individually or at a population level. For more information visit www.rx.health.com
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