Evio is launching a new pharmacy solution that leverages Flipt’s proprietary, cloud-based benefit administration and patient engagement platforms.
Evio Pharmacy Solutions is launching a new pharmacy solution that leverages Flipt’s cloud-based benefit administration and patient engagement platforms. Evio was launched in June 2021 by five Blue Cross plans — Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark, and Independence Blue Cross — to create solutions that improve medication affordability and patient clinical outcomes.
Flipt is a healthcare technology and its primary product and service offerings include proprietary software-as-a-service pharmacy benefit administration tools and full-service pharmacy benefit management services focused on advancing a patient-first, value-based model for pharmacy care, the company said.
“Using Flipt’s technology platform, Evio will deliver a reimagined pharmacy health benefit solution, initially for a select group of the most innovative and forward thinking self-insured employers,” Hank Schlissberg, chief executive officer of Evio, told Formulary Watch. The platform includes a “fully transparent model that doesn’t profit from the patient’s choice of medication or where they want to get it from.”
Flipt’s patient engagement, plan administration, and medication management capabilities will allow Evio to get the right data to each stakeholder to improve pharmacy care delivery and outcomes, Schlissberg noted in a press release.
Aaron Greenblatt, chief executive officer of Flipt, said he left pharmaceutical manufacturing to launch Flipt “when I saw the incredible markups on the medications we were making and the negative impact those inflated costs had on my employees. The misaligned incentives that exist throughout pharmacy care have resulted in unsustainable costs and, in most cases, the patient is left to bear that burden,” Greenblatt told Formulary Watch.
“There's an unmet need for a platform that coalesces the entire value chain around making sure that the right medicine, gets to the right patient, at the right time and price,” he said. “It is Flipt’s mission to repair the broken pharmacy value chain, and we offer a solution that is purpose built to galvanize the entire pharmacy ecosystem around the patient.”
Flipt built its patient engagement platform and its enterprise benefit administration platform using a modular, software as a service model, that was designed to facilitate connections across the ecosystem of pharmacy care. Software as a service is a model in which a cloud provider hosts applications.
The company’s benefits administration platform has been built using cloud-native technology and offers flexibility, scalability, and third-party integration opportunities in comparison to the antiquated, hard-coded tools that are used throughout the PBM industry today.
“This technology delivers a unified platform for managing every aspect of a pharmacy transaction – from eligibility through patient engagement – which eliminates the need to use multiple systems and manual workflows that come out of the technology offered by others in the industry,” the company said in a statement.