wanted to do something about the long wait times at pharmacies. He thought there must be an easier way to pick up prescription drugs.
"I wanted to address two key issues," Libby told Business Insider."How can we improve access and cost to prescription medication?" Since ZipDrug decided to pair only with Medicare Advantage around two years ago, Libby said the company has undergone"exponential growth." He said the company now works with health plans that cover a total of 200,000 members. Still, that's a relatively small consumer base, compared with theSince the company was founded, it has raised $14.8 million. Libby said it plans to raise $5 million more this year, to support recent growth. Its last funding round brought in $10.
The ZipDrug pharmacy then finds cheaper options of the same drug and also informs customers of cost-saving alternative therapies. "I wonder from a growth perspective will ZipDrug be able to break into larger plans for people, growing into a large share of Medicare Advantage plans," Manoogian said."Can they compete with these behemoth plans?"Libby said the goal of ZipDrug is to offer a range of options to Medicare Advantage members from different independent pharmacies.
The platform, called Care Control, integrates pharmacies into the ZipDrug software, and allows ZipDrug to be integrated into the pharmacies' phone systems. When a patient agrees to be matched up with a pharmacy, the patient enrollment team connects the patient and the new pharmacy for the enrollment call.