RxRevu Secures $15.9M Series A Funding to Expand Affordable Prescription Decision Support Platform

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that prescription decision support company RxRevu announced the completion of a $15.9 million Series A financing round. The round was led by UCHealth, a non-profit healthcare organization, with participation from the University of Virginia Licensing & Ventures Group, Presbyterian Healthcare Services (NM), Inception Health, Children's Hospital Colorado, UnityPoint Health Ventures, JAZZ Venture Partners, and existing investors. The company intends to use these funds to drive its growth.

With the completion of this transaction, Toby Cosgrove, MD, Executive Advisor at Cleveland Clinic, and Richard Zane, MD, Chief Innovation Officer at UCHealth, have joined the RxRevu Board of Directors.

Headquartered in Denver and led by co-founder and CEO Carm Huntress, RxRevu is dedicated to improving healthcare by providing physicians with prescription decision support. The company offers the SwiftRx platform and related prescription decision support tools, which leverage EHR integration technology to help clinicians quickly and easily identify affordable alternatives to high-cost medications based on patients’ health needs, thereby enabling more informed prescribing decisions.

RxRevu has established a healthcare system that comprehensively manages and evaluates the effectiveness of clinicians’ prescriptions by taking into account factors such as patients’ medical histories and individual insurance costs, with the aim of minimizing patient treatment expenses. RxRevu’s prescription decision support technology ensures transparency in treatment costs, enhances prescription safety, and improves patient satisfaction.

“SwiftRx’s toolkit makes it easier for clinicians to match each patient with the right medication,” said Carm Huntress, Co-founder and CEO of RxRevu. “With our Real-Time Benefit Check (RTBC) data and treatment alternatives, patients can choose more affordable prescriptions or those that do not require prior authorization. When patients cannot afford high medication costs, they may decline the prescribed therapy, leading to pharmacy callbacks, which increase costs for all parties involved. One of our goals is to prevent these millions of pharmacy callback events.”

“Over the past two years, UCHealth and its Center for Nursing Innovation have worked closely with RxRevu to drive mutual growth,” said Richard Zane, M.D., Chief Innovation Officer at UCHealth. “Both parties are committed to improving prescription decision-making, reducing medication costs, and minimizing patient prescription abandonment. By leveraging SwiftRx to measure and manage prescriptions, we aim to enhance satisfaction for both clinicians and patients.”

As the complexity of drug-related risks and managed datasets (such as pharmacogenomics) continues to grow, new regulatory requirements for cost transparency have been introduced, creating an urgent need for effective prescription decision support tools within health systems.

Toby Cosgrove stated, “As a physician and current member of the RxRevu Board of Directors, I have observed the challenges facing today’s healthcare system from multiple perspectives, particularly the increasing complexity of the prescription process. The SwiftRx platform integrates new data sources with decision-support tools, enabling healthcare providers to incorporate the latest treatment standards, national policies, and patient costs into streamlined, healthcare-facility-centric workflows, thereby allowing them to focus on patient care.”

UCHealth is a nonprofit, innovative healthcare organization dedicated to providing patients with high-quality medical care and an exceptional care experience. The organization was established through the collaboration of Longs Peak Hospital, Yampa Valley Medical Center, Memorial Hospital Central, Memorial Hospital North, Poudre Valley Hospital, Medical Center of the Rockies, UCHealth Medical Group, Broomfield Hospital, Grandview Hospital, Pikes Peak Regional Hospital, and University of Colorado Hospital.

UCHealth operates more than 150 clinics. It offers advanced treatments and clinical trial programs, continuously driving the expansion of the medical field.

UVA Licensing & Ventures Group (UVA LVG) is the intellectual property management and innovation commercialization organization under the University of Virginia (UVA). Established in 1977, it operates as part of the UVA Foundation, a 501(c)(3) organization. Today, UVA LVG receives approximately 200 invention disclosures annually, executes around 80 commercial transactions, and launches five to seven new companies each year.

Presbyterian Healthcare Services, a private, non-profit company based in New Mexico, USA, is dedicated to improving the health of patients, team members, and the communities it serves. It operates eight hospitals across seven communities in New Mexico and is currently implementing the Presbyterian Health Plan.

Inception Health is affiliated with Froedtert Health. Froedtert Health is committed to providing a cost-effective healthcare system for residents of Wisconsin, USA. Through the work of its internal academic medical center and collaborations with external technology companies, Inception leverages innovative digital technologies to improve the health of community residents.

Children’s Hospital Colorado was founded in 1908 in Denver, United States, and is dedicated to providing the best medical care for children. As one of the top ten children’s hospitals in the United States, it primarily focuses on patient care, education, research, and advocacy to improve children’s health.

UnityPoint Health Ventures is the investment arm of UnityPoint Health, established in 2019. UnityPoint Health primarily focuses on innovative ideas that deliver simple, personalized services to patients and healthcare providers, investing in early-stage growth companies in fields such as digital health, medical devices, therapeutics, and healthcare services.

JAZZ Venture Partners is a leading venture capital firm primarily investing in the intersection of digital technology and neuroscience, including virtual and augmented reality, immersive video games, artificial intelligence, and closed-loop human-machine systems. Its portfolio companies span markets such as health, learning and training, sports, and entertainment.

(Compiled by Tang Lulu)