Skip to content Skip to navigation

UPMC Enterprises Invests in Predictive Analytics Startup RxAnte

October 7, 2016
by Heather Landi
| Reprints

Portland, Maine-based predictive analytics company RxAnte has received a growth equity investment from UPMC Enterprises, the commercialization arm of the UPMC health system in Pittsburgh.

Under the terms of the transaction closed on Sept. 30, Millennium Health sold its entire interest in RxAnte, which will continue to operate as an independent company, led by its existing management team. 

Founded in 2011, RxAnte’s technology and clinical services focus on solutions to improve the use of prescription medications. The investment by UPMC Enterprises will facilitate product development in collaboration with clinical experts at UPMC and accelerate growth, according to a UPMC press release.

The UPMC Health Plan has been a customer of RxAnte for the past three years. According to UPMC officials, use of RxAnte’s solutions have optimized medication use, saving excess medical costs and directly contributing to the plan’s superior Star Rating performance on medication adherence measures by the Centers for Medicare & Medicaid Services (CMS).

“RxAnte’s technology and services have been a key driver of our stellar performance in ensuring that our members receive the appropriate medications for their conditions, leading to better patient outcomes and effective cost management,” William Shrank, M.D., chief medical officer for the UPMC Insurance Services Division, said in a statement. “With UPMC’s clinical expertise and the Health Plan’s strength in analytics, we look forward to supporting RxAnte’s product development and advancing our joint goal of providing the highest value from prescription medications.”

RxAnte currently manages medication use for nearly 7 million people on behalf of health insurers, providers and other stakeholders confronting the challenge of improving safe and effective prescription drug use.

RxAnte’s priorities with this new investment include expanding its offerings for Medicare, Medicaid and commercial populations, with particular focus on analytics and clinical programs that lower total cost of care. The company also intends to extend its predictive models and workflow tools to the management of high-cost specialty drugs.

 “Improving medication use is increasingly recognized as one of the biggest but most challenging opportunities to improve patient outcomes while reducing health care costs,” Tal Heppenstall, president of UPMC Enterprises, said.

Josh Benner, founder and chief executive officer of RxAnte, said in a prepared statement, “This is a major milestone for RxAnte that will expand the breadth and depth of the analytics and population health management solutions we provide.”



ONC National Coordinator Gets Live Look at Carequality Data Exchange

Officials from Carequality have stated that there are now more than 150,000 clinicians across 11,000 clinics and 500 hospitals live on its network. These participants are also able to share health data records with one another, regardless of technology vendor.

American Red Cross, Teladoc to Provide Telehealth Services to Disaster Victims

The American Red Cross announced a partnership with Teladoc to deliver remote medical care to communities in the United States that are significantly affected by disasters.

Report: The Business of Cybercrime in Healthcare is Growing

While stolen financial data still has a higher market value than stolen medical records, as financial data can be monetized faster, there are indications that there is ongoing development of a market for stolen medical data, according to an Intel Security McAfee Labs report.

Phishing Attack at Baystate Health Potentially Exposes Data of 13K Patients

A phishing scam at Baystate Health in Springfield, Mass. has potentially exposed the personal data of 13,000 patients, according to a privacy statement from the patient care organization and a report from MassLive.

New Use Cases Driving Growth in Health Data Exchange through Direct

In an update, DirectTrust reported significant growth in Direct exchange of health information and the number of trusted Direct addressed enabled to share personal health information (PHI) in the third quarter of 2016.

Insurers to CBO: Consider Private Insurers’ Data in Evaluations of Telemedicine

Eleven private insurers, including Aetna, Humana and Anthem, are urging the Congressional Budget Office (CBO) to consider the experience of commercial insurers when evaluating the impact of telemedicine coverage in Medicare.