With the rising costs in healthcare, and the larger need for digital solutions, we’re proud to highlight the work of an independent pharmacy with a difference. Medvantx is a specialist healthcare firm based in San Diego, CA. Connecting patients with providers and healthcare organizations, Medvantx ensures they receive the medication and the treatment they both need and deserve. Here we talk to Medvantx’s CEO, Prasanna Parthasarathy, as it secures its title in the Healthcare and Pharmaceutical Awards 2023.
Businesses can improve the user experience (UX) of their services with the help of technological solutions. These solutions, such as AI driven, easy-to-use platforms – especially those which incorporate modernized analysis and compliance regulations in addition to their base purpose of access to care for all patients – are pushing the boundaries of the healthcare industry as we know it.
AI powered algorithms, which help with analysis of purchase patterns, ensure services can be streamlined and perfected – giving providers and manufacturers the chance to understand the demand within their sector, and allowing them to react in good time. In order to adapt to the trends of their industries, providers need the power of analysis behind them so that they can ensure their output matches the needs of their patients.
Of course, the healthcare industry – especially health insurance – is complex, and the rising costs don’t make things any easier. With the digital age booming, we see more innovative solutions to simplify every process from sector to sector – and Medvantx’s technology is raising the bar for the healthcare industry in the present and the generations to come.
Medvantx was established in 2013 to “bridge the gap between patients and their much needed medications.” Its core mission is to pave the way to patient access, and its work truly demonstrates its passion for helping those who need a better system to rely on. As a non-commercial pharmacy, Medvantx supports large pharmaceutical manufacturers in their endeavours. Its pioneering platform is helping it to address the difficulties that its clients face, and present them with everything they need to have access to the care they need at the time.
Due to the transformative nature of the industry, Medvantx strives to deliver the best, and most sophisticated, solutions which are guaranteed to improve experiences of all people alike. Its work is being recognised more than ever, and it’s easy to see why.
We all depend on the healthcare industry at some point or another. Whether we need to have access to long-term care or one off care, it’s inevitable that we’ll need to access different types of medication or services in our lives. A plethora of solutions have been created around the world for these moments, but Medvantx’s software has delivered a new dawn for the digital aspect of access to care.
Medvantx collaborates with healthcare providers, manufacturers, and organizations in order to battle against the difficulties they face when trying to access the medication they require. The issues experienced could be due to financial constraints or insurance coverage limitations, but Medvantx has created a software that can do it all, for less.
Working tirelessly to help a diverse plethora of individuals, Medvantx uses its core values to drive it towards success for the future of healthcare. Prasanna tells us, “Our clients primarily include individuals who find it difficult to afford or access their necessary medications due to financial constraints or insurance coverage limitations. Our specific focus is on creating accessibility for these individuals, leveraging our resources and technology to ensure they receive the medications they need.”
Following on from entering the life-impacting medical device segment in 2021, the Medvantx INSIGHTS Platform was launched in 2022 to “further the advancement of access to care.” This platform gives Medvantx an edge over it competitors by helping patients to manage their medication seamlessly and in a timely manner. The innovative mobile and Cloud solutions within Medvantx INSIGHTS platform created a smoother UX. This not only helps to connect patients with their medication, but it also aids a “frictionless” relationship between patient and provider.
Medvantx INSIGHTS platform is split into three distinct sections such as “Connect”, “Engage”, and “Analytics”. To start, its “Connect” segment covers the API-based integration of cutting-edge technology which keeps patient’s data safe while connecting them with their provider. The HIPAA compliant data sharing involved ensures safe and secure e-prescriptions can be shared between pharmacies and patients, making their experience of healthcare access run smooth and easy.
“Engage” is a tool that both patients and providers can use around the clock, 24/7/365, in a flexible and manageable manner. With regards to manufacturers, “Engage” helps them to integrate digitally with a pharmacy while giving the appropriate amount of time to focus on prescription management, clinical questions, and much more. By managing business continuity in this way, patients can always have their medication delivered to them on time, no matter what kind of insurance they may have.
Lastly, “Analytics” guarantees data can be used efficiently and securely for each user. This improves the patient experience by giving them access to the seamless integration of data from different sources, and the algorithms then generate clinical patient access date to digest operational, compliance, and key financial information.
“We’ve invested in advanced safety software that helps us ensure the highest standards of pharmaceutical practice. This software allows us to monitor and manage medication safety more effectively, providing an added layer of protection for our clients.”
As the healthcare industry is an ever-evolving sphere which is becoming more expensive, Prassana tells us, “Our primary focus is on providing world-class medications in an efficient and compliant manner, despite these economic pressures. We leverage technology and innovative strategies to streamline our operations and reduce costs wherever possible. Our INSIGHTS Platform, for instance, allows us to better understand patient needs and medication trends, enabling us to optimize our services and manage resources more efficiently.
Medvantx works tirelessly to deliver essential medications to everyone, including individuals who may have struggled to have access to care to begin with, people who are underinsured, and over 40 million people living above the federal poverty line. It has established itself as a link between each patient and those who provide their much-needed pharmaceuticals. Its strong ethical conduct has a purpose: to ensure the healthcare industry is led with equity in mind – and its work truly reflects this on a daily and case-by-case basis.
Also offering comprehensive business continuity, Medvantx has stayed strong throughout some of the most trying times. As the pandemic brought a lot of uncertainty and issues with manufacturing and delivery, Medvantx stayed ahead of the curve by utilising its well-designed technology to communicate between manufacturers, providers, and patient. This meant that the best was made of a bad situation, people could be safe, and Medvantx could prevail.
Its unique offerings such as Cash Pay, also known as Direct-To-Patient (DTP), guarantee access to medication without the need to go through insurance programs. As the payment is handles virtually, via online credit card processing, individuals can be free of stress, and with an uninterrupted service.
For the future, Medvantx aims to continuously improve its INSIGHTS platform, in order to improve scalability and consistency. Prassana adds, “We also plan to expand our digital pharmacy footprint, leveraging technology to reach more patients and improve access to care. We’re exploring new ways to streamline our operations and reduce costs, ensuring that our medications remain affordable despite rising healthcare costs.
“Additionally, we are investing in advanced safety software to enhance our compliance standards. Driven by our medical affairs team, this initiative aligns in our commitment to maintaining the highest standards of pharmaceutical practice. Our future plans revolve around innovation, accessibility, efficiency, and compliance, aimed at providing world-class care to as many patients as possible.”
Providing its solutions to the USA, Medvantx doesn’t simply strive to be the best – it has won an award-winning status as the Best Independent Non-Commercial Dispensing Pharmacy 2023 – USA. Indeed, Medvantx’s commitment to evolution ensures it stays ahead of the curve as well as reacting to the trends within the industry at present. Its strength and foresight guarantees its success, and its success sends a ripple effect out amongst patients with varied needs and requirements – all around the world.
With an inclusive, educated, and respectful approach to all parties involved in the access to care process, Medvantx has come up with solutions to all pain points. Whether that’s problems with insurance or affordability, or with the compliance and regulations side of data for providers, its solutions have changed the way we experience the healthcare industry and the way we manage data – all rolled into one platform.
If you’re a healthcare provider looking to manage your patients, stock, or compliance, or a patient looking to cultivate a better relationship with your provider, look no further. Head over to Medvantx’s website today for more details.
For further information, please contact Prasanna Parthasarathy or visit https://medvantx.com/