Strategic investment will radically change how payers manage benefits, costs, and care
MedImpact Holdings’ strategic investment in health tech startup Bayvrio is accelerating the rollout of Bayvrio’s advanced technology platform and first-of-its-kind marketplace, the two companies announced. Due to this investment, these solutions are now available to health systems, pharmacy benefit managers, and third-party administrators seeking greater flexibility and control over how they manage benefits, care, and costs.
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MedImpact investment in Bayvrio accelerates development and launch of groundbreaking #healthcare solutions marketplace
“The disruptive thinking and the game changing marketplace that we have collaborated to create will empower healthcare payers in ways the industry has not seen before,” said Fred Howe, Founder, Chairman and Chief Executive Officer of MedImpact. “This investment is about a radically different vision for the future–one in which payers have greater control over how they manage their operations and finances and how they serve members.”
MedImpact is uniquely able to help Bayvrio deliver on that vision. Serving more than 20 million members and managing $40 billion in transactions annually, MedImpact is the largest independent pharmacy benefit and health solutions company. As a privately held enterprise, MedImpact has the freedom to invest boldly, think long term, and always keep clients and members at the center of care.
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Founded in 2022, Bayvrio is giving payers the technology, flexibility, and tools to take control of their pharmacy benefits and deliver a more affordable and simplified healthcare experience to members. Backed by MedImpact’s resources, industry expertise, and clinical strength, Bayvrio’s groundbreaking marketplace offers participants an array of modular pharmacy benefit services, including a curated list of best-in-class third-party technologies and solutions. This gives clients unprecedented control over their pharmacy benefit programs, while being a part of a healthcare ecosystem where choice drives value.
“Bayvrio and MedImpact have a shared vision for a healthcare system in which payers and members are empowered, informed, and in control,” said Mike Napolitano, President of Bayvrio. “MedImpact’s support will enable us to deliver on that vision faster and across healthcare.”
“We are excited about our partnership, but this is far greater than our two companies,” said Howe. “The technology and marketplace solutions we are launching will be available to payers and PBMs, because when healthcare is more efficient, connected, and empowering, everyone will benefit–consumers most of all.”
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Source – businesswire
