Truveris Secures $25 Million in New Funding to Help Reduce Cost and Improve Access to Prescription Medications
Truveris, a healthcare technology company that pioneered cloud-based analytics solutions for the prescription benefits industry, announced today that it has secured $25 million in a new round of funding. The Series D round was led by McKesson Ventures and included five other venture capital firms.
Truveris brings transparency to the prescription drug ecosystem through data-driven innovations. The company’s TruBid® platform allows clients to understand and shop for pharmacy benefit manager (PBM) contracts so they can make smarter decisions about their members’ prescription drug coverage. TruBid includes continual bill review that analyzes every claim for accuracy of pricing and contract terms. This results in an average cost reduction of 11 percent. The State of New Jersey recently used the Truveris platform to save $1.6 billion on its prescription drug benefits.
Truveris supports more than 25 pharmaceutical brands by designing, executing, and monitoring integrated patient access strategies. It tracks performance and uses real-time insights to improve patients’ prescription fill rates, drug adherence, and treatment outcomes.
Truveris also works with the largest retail pharmacies in the U.S. to improve savings opportunities for patients who pay cash. Its consumer app, OneRx, allows users to instantly research drug and pharmacy prices to identify the best value for prescription drugs.
Read the full press release here.