Medvantx: Bridging Gaps in Healthcare Access
In an exclusive interview with Biz Tech Outlook, Prasanna Parthasarathy, CEO of Medvantx, shares insights into the company's mission, innovative services, and the pivotal role it plays in bridging the gap between patients, providers, and healthcare companies. Medvantx's dedication to enhancing access to medications and improving patient outcomes through advanced digital technologies and patient assistance programs underscores its commitment to sustainable and equitable healthcare solutions.
Can you provide us with an overview of Medvantx?
Medvantx plays a crucial role in the healthcare ecosystem by bridging the gap between patients, providers, and healthcare companies to enhance access and improve lives. Here’s a breakdown of the key services and capabilities offered by Medvantx.
Patient Assistance Programs (PAP): These programs help patients access the medications they need by providing assistance with the cost of prescription drugs. Medvantx’s 20+ years of experience in PAPs ensures that patients can receive the support they require.
Bridge: Patients can bridge the gap and begin their medications while waiting for insurance or prior authorizations to be approved.
Quick Start: This service expedites the process of starting a new medication regimen, ensuring that patients can adhere to their medications by beginning their treatment promptly.
Cash Pay: For patients who may not have insurance coverage or prefer to pay out-of-pocket, Medvantx offers cash pay options to make medications more affordable and accessible.
Product Replacement: Medvantx offers complimentary replacement of medication with direct prescription acceptance for streamlined handling.
Pharmacy Services: Medvantx provides comprehensive pharmacy services, including prescription dispensing, medication management, and patient counseling, to support patients’ healthcare needs. With major facilities in Sioux Falls, SD, and Louisville, KY. Medvantx has a robust infrastructure to support its operations and ensure efficient delivery of services to clients and patients.
How do you partner with pharmaceutical manufacturers and ensure better access for patients?
Medvantx partners with 5 out of the 10 Largest Pharmaceutical Manufacturers Nationwide making them a leader in the pharmaceutical industry.
With extensive experience and industry-leading compliance standards, Medvantx established as a trusted partner for top prescription manufacturers. Their team of over 40+ pharmacists bring’s expertise and reliability to the table.
Patient Assistance Programs: Medvantx specializes in administering these, which are vital for ensuring that patients have access to necessary medications. These programs help bridge the gap between patients and the medications they need, especially for those facing financial barriers.
Medvantx’s expertise, partnerships, and commitment to patient access make their organization a valuable asset in the pharmaceutical landscape, facilitating the delivery of essential medications to those in need.
Does Medvantx collaborate with insurance providers and assist patients with insurance coverage?
Medvantx’s role as a non-commercial dispensing pharmacy underscores its commitment to improving access to medications for patients in need. By facilitating access to manufacturer programs such as PAP, Quick Start, and Bridge, Medvantx plays a vital role in ensuring that eligible patients can receive necessary medications at no cost.
“We work with people who can sometimes fall between the cracks of our healthcare system to ensure that we are giving them access to care. We’re truly doing something that’s impactful to society.” – Prasanna Parthasarathy, Chief Executive Officer
What is PAP?
Despite efforts to make healthcare more accessible, there are still individuals in the United States who are uninsured or underinsured.
Medvantx’s mission is dedicated to improving patient health outcomes through patient assistance programs (PAPs). We are committed to ensuring that no patient is left behind due to financial barriers. This commitment marks the organization’s belief in equitable access to healthcare for all individuals, regardless of their insurance status. This collaborative approach involves professionals from the pharmacy industry, working together to streamline processes and support patients in accessing the medications they need.
Medvantx is well-positioned to make a meaningful impact in improving patient access to medications.
Can you share with us the remarkable changes your company has made in the industry and your journey so far?
Working in the healthcare sector allows us to advance the wellbeing of patients. It is a privilege we don’t take lightly. We get a unique opportunity to do good and do well. At Medvantx, we pursue our mission of advancing access to healthcare by working directly with pharma manufacturers, enabling products to help millions of people live healthier. Over the last couple of years, we have doubled down on our efforts to improve access to care to over 14 million patients by leveraging advanced digital technologies (Robotics, Cloud, AI). Our team makes us a best-in-class partner to pharma manufacturers, ultimately providing world class care for the patients we serve.
Have you achieved your goals, and what are the future endeavors you are planning?
We are on a journey to continue advancing access to great healthcare for all. We have almost doubled the impact on the lives we touch over the last two years, and we are just beginning. Our success is not measured solely based on the destination of a specific target or financial metric. We actively look at the number of patients we serve and the impact we can create. We have several initiatives in the works to quadruple the number of lives we touch each year. We are excited about this.
We would like to showcase the visionary Chairperson and the foundational pillars of Medvantx to our audience. Please share information about them.
Medvantx creates access is just as important as what we develop. Our team strives to
- Lead with Purpose-driven by improving access to all.
- Be Customer Centric-providing a world-class experience
- Be Innovative-enabling continuous improvement
- Collaborative-Remaining curious and respectful
- Ethical-acting with integrity
Prasanna Parthasarathy, Medvantx CEO: “Our mission and vision are centered around creating seamless access across patient, provider, and healthcare companies to advance care for all.”
Prasanna serves as the Chief Executive Officer of Medvantx, and has led the charge to streamline complex pharmacy operations, helping patients get the prescriptions they need. Before joining Medvantx, He served as an Operating Partner with Windrose Health Investors. He led various investment opportunities across the medication management sector and was a Director on the board of Terrapin specialty pharmacy and VTM diagnostic technologies. He has spent 13 years with Becton Dickinson and CareFusion Inc. in various executive and leadership roles across hospital, retail, and LTC medication and supply chain management solutions, including leading the $1B+ Dispensing businesses globally. Prior to joining BD, Mr. Parthasarathy spent eight years at GE Healthcare across Healthcare IT (Information Technology), Monitoring Solutions, and Diagnostic Imaging businesses. Prasanna holds a Bachelor’s in Mechanical Engineering from the University of Madras, India, and a Master’s in Computer Engineering from Marquette University. He also holds a Master’s in Business Administration from the University of Chicago.
“Our mission and vision are centered around creating seamless access across patient, provider, and healthcare companies to advance care for all.”
“Our digital pharmacy services transformation has caught the attention of pharmaceutical companies globally. We prioritize delivering exceptional customer experiences and world-class healthcare services.”
