MatchMyRx (Company name: PRX Control Solutions)

MatchMyRx is an app that helps patients, providers and payers match medications with health conditions

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Inspiration

We built our company PRX Control Solutions to:

  • Help payers reduce the overall excess of prescription costs
  • Help providers identify improper prescriptions and uncoded chronic patients
  • Help patients understand their medications and increase adherence

What it does

MatchMyRx proprietary algorithms can match medications with health conditions to:

  • Help payers and health plans detect abuse and waste in real-time at the pharmacy
  • Help providers detect uncoded chronic health conditions in real-time at the point of care
  • Help improve prescription data

How we built it

We've been working more than 4 years on our algorithms. We first built an MVP to test out with 7 health insurance companies. After receiving market validation, we proceeded to build a suite of solutions to help payers reduce drug benefit costs. We recently launched MatchMyRx, our latest app to increase more awareness on patients.

Challenges we ran into

  • Long sales cycle on the payer side
  • Knowing the right people within each potential client

Accomplishments that we're proud of

  • We've saved more than $35 million dollars to our customers in Venezuela, where we started our company
  • We were part or Wayra's accelerator program
  • We won a grant from the city of Miami
  • We did a case study with the CMS data program and identified a huge opportunity for the US market
  • We've done 3 other case studies with private insurers with amazing results

What we learned

  • Long sales cycles can kill a startup
  • Build an MVP and then pivot according to market needs
  • Find the right mentors and advisors

What's next for MatchMyRx

  • License our IP to payers and health plans
  • Offer our IP to EHRs as a free add-on to help doctors identify uncoded chronic patients
  • Grow our patient user-base

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