PAR announces stake in telepharmacy start-up RxLive
LUTZ, Fla., Sept. 18, 2019 /PRNewswire/ — PAR, Inc. announced last week it is investing in local start-up RxLive, Inc., a telehealth company that provides patient access to clinical pharmacists for personalized medication advice.
Founded by husband-and-wife team Kristen and Mark Engelen—a clinical pharmacist and a marketing, product, and strategy executive, respectively—RxLive was created to enable patients, expert clinical pharmacists, and doctors to directly connect about patients’ medication regimens—effectively filling a void in the market. Kristen serves as Chief Pharmacy Officer, while Mark serves as CEO.
PAR’s leadership was drawn to RxLive’s unique service and to their story and culture. “As a company, RxLive is built on the same basic values as PAR,” said Kristin Greco, CEO of PAR. “We see several synergies between the two organizations not only in leveraging our content but also in sales channels, insights, and functional support. This market is underserved with no central advocate for patients with regard to their medications—RxLive is changing that.”
“I am thrilled to be partnering with Kristin and the PAR team,” Mark said. “There is not only a strong and compelling synergy between the two organizations on the business side—with the expanding role medications play in managing behavioral health conditions—but also on the cultural side with PAR’s entrenched service philosophy mirroring RxLive’s.”
Through RxLive, patients privately and securely consult with clinical pharmacists to learn how to avoid side effects and potentially harmful medication interactions, make their medication regimen more efficient and effective, and save money by considering alternative options. In addition, pharmacists focus on increasing patient compliance, identifying barriers that prevent patients from taking their medications as prescribed and custom designing strategies to solve these problems.
On the provider side, this model enables pharmacists to counsel patients rather than spend time dispensing medication. For many pharmacists, working in this way is an opportunity to experience more meaningful patient interactions.
“PAR’s investment comes at a meaningful inflection point for our organization as we expand across multiple channels, deepen our expertise, and build tools that empower our pharmacists to serve our patients and providers better,” Mark said.
In addition to its basic consultative service, RxLive provides a variety of innovative value-add benefits for provider organizations, payers, and employers, including pharmacogenomic testing and counseling, discharge medication reconciliation, advanced alternative payment model support, and employee medication services.
About PAR, Inc.
Founded in 1978, PAR (parinc.com) is a leading publisher of assessment instruments, software, and other related materials. Over the past three decades, PAR has earned a reputation for providing customers with innovative assessment solutions and unparalleled customer service.
About RxLive
RxLive (rxlive.com) is a telehealth platform and service that provides patients access to highly trained clinical pharmacists for in-depth discussions about medications in a convenient and private setting. RxLive works with providers, employers, and clinical labs as well as directly with consumers to ensure patients take the right drug, at the right time, at the right price.
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SOURCE PAR, Inc.
