Does McKesson own CoverMyMeds?
McKesson has entered into a definitive agreement to acquire CoverMyMeds, a developer of electronic prior authorization technology, for $1.1 billion or $0.9 billion net of cash incremental cash benefits, the companies announced Jan. 25.
Who bought CoverMyMeds?
McKesson
McKesson, based in a Dallas suburb, acquired CoverMyMeds in 2017. It makes software that speeds insurance approvals for prescriptions. The business tripled since then to 1,500 employees between Columbus, Cleveland and remote.
Is CoverMyMeds publicly traded?
The company was founded in 2008 and has offices in Ohio. Since early 2017, it has operated as a wholly owned subsidiary of McKesson Corporation….CoverMyMeds.
| Type | Subsidiary |
|---|---|
| Industry | Health informatics |
| Founded | Twinsburg, Ohio, United States (2008) |
| Founders | Sam Rajan Matt Scantland |
| Headquarters | Columbus , United States |
How long has CoverMyMeds been in business?
We started CoverMyMeds in 2008 with a mission to help patients get the medication they need to live healthy lives. Today, our products streamline the prior authorization (PA) process for 47,000 pharmacies, 700,000 prescribers and the nation’s largest pharmacy benefit managers (PBMs) and payers.
Is McKesson a pharmacy benefit manager?
Real-Time Pharmacy Benefit Management Software | McKesson.
What kind of company is CoverMyMeds?
About The Company CoverMyMeds’ solutions help patients get the medications they need to live healthy lives by building technology that connects the healthcare network to improve medication access, increase speed to therapy and reduce prescription abandonment.
Who is the CEO of CoverMyMeds?
CEO Matt Scantland
Co-founder and CEO Matt Scantland: CoverMyMeds grows 3X, positions company for the next 10 years through exciting, grateful leadership transition. What started as an idea by a small and committed team has now grown to a company of more than 1,000 leaders working together to solve some of healthcare’s biggest problems.
How many people work for CoverMyMeds?
1,336
Company Info
| Rank last year | – |
|---|---|
| HQ location | Columbus, Ohio |
| Employees | 1,336 |
| Job openings (as of February 2020) | 153 |
| Industry | Health Care |
How do pharmacy benefit managers make money?
Altogether, PBMs generate more than $315 billion annually in revenue for themselves and their shareholders by adding their cost of doing business to the end cost of the prescription paid by insurance plans, taxpayer dollars and patient copays at the pharmacy counter. PBMs work with drug makers to develop the formulary.
What is the difference between a PBM and insurance?
PBMs do not typically tell insurance companies what they are paying pharmacies for drugs. As a result, insurers might pay the PBM more than the PBM paid the pharmacy. This difference in pricing is called “the spread,” and PBMs are the ones who profit from it.
Is CoverMyMeds a good company to work for?
91% of employees at CoverMyMeds say it is a great place to work compared to 57% of employees at a typical U.S.-based company. Source: Great Place to Work® 2021 Global Employee Engagement Study.
Who are CoverMyMeds competitors?
Top 10 Alternatives & Competitors to CoverMyMeds Platform
- Waystar. (111)4.5 out of 5.
- Practice Fusion. (51)3.8 out of 5.
- McKesson Connect. (30)4.4 out of 5.
- RXNT EHR. (32)4.3 out of 5.
- PrimeSuite. (30)3.0 out of 5.
- AdvancedMD. (52)3.6 out of 5.
- Azalea Health. (16)3.9 out of 5.
- Rcopia. (6)3.0 out of 5.