The acquisition enhances the company’s script-to-fill orchestration model, alleviating prior auth administrative burden and enhancing the patient experience.
Free Market Health (FMH), the definitive technology platform transforming the specialty pharmacy ecosystem, today announced its acquisition of Beeline Rx, a technology solution that streamlines the specialty patient onboarding process, to execute a shared vision of orchestrating a patient-centered specialty pharmacy experience—from script to fill and every point in between.
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Given the high cost of specialty drugs—which account for more than half of total drug spend—payer approval is often required to ensure cost-effective and clinically appropriate treatment. However, the current process of starting patients on specialty drugs is fragmented and error-prone, and process missteps across the ecosystem cause delays in medication access.
Beeline Rx’s technology modernizes prior authorization facilitation, leveraging data interoperability and AI to accelerate administrative tasks and allow pharmacists and physicians to focus on caring for their patients. FMH will integrate Beeline Rx’s technology into its care-driven marketplace platform to drive process efficiency and enhance the patient experience.
“This acquisition brings us one step closer to a world where starting a specialty medication takes days or hours, not weeks,” said Joe Cardosi, Founder and Chief Executive Officer at FMH. “Free Market Health was founded on the belief that modern technology and better alignment across stakeholders can drive better outcomes for the people who matter most: patients. Integrating Beeline Rx’s technology into our solution will help achieve that vision.”
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The FMH platform orchestrates the end-to-end specialty medication fulfillment process to increase efficiency, optimize value, and improve the patient experience. The new technology will bolster FMH’s robust intake services, including the company’s own non-dispensing pharmacy that enables seamless prescription intake and transfer, to drive value for current and new partners.
Beeline Rx’s leadership team and several key team members will join FMH, bringing their deep industry knowledge to advance our shared mission. Beeline Rx’s Co-Founder and CEO Steve Fleck will serve as Chief Strategy Officer at FMH, Co-Founder and President Josh Cordle as Chief Product Officer at FMH, and Co-Founder and COO David Palmer as SVP of Operations at FMH.
“Beeline Rx is committed to putting the patient first—a commitment we proudly share with the FMH team,” said Steve Fleck, Beeline Rx’s Co-Founder and CEO. “We couldn’t be more excited to join forces, building innovative technology together to ensure the specialty pharmacy ecosystem is accountable to the patients who depend on it.”
This acquisition aligns with FMH’s growth strategy to fully deliver on the promise of its care-driven marketplace platform and serve as the definitive orchestration layer for the specialty pharmacy ecosystem. As a first mover in the industry, FMH has been empowering pharmacies and payers since 2021. Platform volume has grown over 350% since 2023 and is expected to grow an additional 300% in the next 12-18 months from new and existing partnerships. With contracted partners including health plans and PBMs covering more than 35 million lives and more than 400 unique specialty pharmacies, FMH is making a real-world impact, helping patients access their needed specialty medications faster and with fewer barriers.
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Source – PR Newswire
