Optimizerx's Business Segments
Optimizerx's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Revenue Share by Reportable Segment - FY
- Solutions Sold on a Commissions Bases, Agent Revenue Recognized on a Net Basis39.4%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Solutions Sold on a Commissions Bases, Agent Revenue Recognized on a Net Basis | $ 8 | 39.4% |
Annual Results
Revenue Share by Reportable Segment - FY
- Solutions Sold on a Commissions Bases, Agent Revenue Recognized on a Net Basis39.4%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Solutions Sold on a Commissions Bases, Agent Revenue Recognized on a Net Basis | $ 8 | 39.4% |
Description of Optimizerx
We are a leading provider of digital health messaging via electronic health records (EHRs), providing a direct channel for pharmaceutical companies to communicate with healthcare providers. Our cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, education and critical clinical information. Our network is comprised of leading EHR platforms and provides more than half a million healthcare providers access to these benefits within their workflow at the point of care.
Our sales team continues to expand our business with existing clients and win new clients. We are focused on adding additional brands for existing clients, providing new solutions, expanding the utilization of our network for existing brands, and obtaining new clients.
Additionally, we expanded our service offerings:
Brand Messaging – We have successfully integrated our new platform
with partners in 2017 and have launched initial programs. Additionally, we expect
our exclusive partnership with Allscripts, which allows us to offer LogRx brand
messaging and Infoscripts messaging, to accelerate revenue growth in this area.
Brand Support – We have designed a service to better insure that manufacturer
brands are available in every ePrescribing platform available, and we have incorporated
this to an overall program related to launch brands that include brand awareness
messaging and financial messaging.
We also continued to ramp up our marketing efforts:
Spoke at Coupon and Co-Pay Off-set Strategies Conference.
Presented at multiple investor conferences in 2017, including: Noble Capital
Markets’ 13th Annual Investor Conference, 29th annual Roth Conference,
7th Annual LD Micro Invitational and 10th Annual LD Micro Main Event.
Lead kick-off panel, “A New Infrastructure for Healthcare,” at
Distributed: Health Conference.
Sponsored CBI’s 4th Annual Bio/Pharma Forum on e-Rx and EHR as well as moderated a panel.
To support our growth, we have migrated our platform to Oracle database software. Our system can manage up to one million rules and return the appropriate content within one second. This ultra-fast response time helps avoid delays and supports our expectation for accelerated revenue growth. To further improve the efficiency of our system, we are in the process of moving our software to Amazon Web Services.
Our principal products and applications can be summarized as follows:
Financial Messaging – Our integrated financial messaging platform is
a revolutionary virtual “Patient Support Center” that allows doctors
and staff to access a universe of sample vouchers, co-pay coupons and other
patient support through their EMR and/or e-Prescribe systems. It allows them
to search, print or electronically dispense directly to patients and a national
network of pharmacies. Our platform eliminates the need for physicians to manage
and store physical drug samples by offering a more convenient and efficient
way to allocate, administer and track samples and co-pay savings for their patients.
Today, nearly 60% of doctor offices ban or limit drug representatives and the
samples they offer. While samples are still valuable, our solution address the
fact that many healthcare systems and doctors are looking for an easier, more
effective way to increase affordable access and adherence to their prescribed
branded medications.
Brand Messaging – Our brand messaging services include a variety of brand
awareness and clinical messaging services that can be tailored to meet the needs
of a brand. These messages can include brand awareness messages, reminder ads,
clinical messages and unbranded messages that can be targeted by specialty,
diagnostic code and other criteria. Brand messaging is highly complementary
to our core financial messaging product. Historically, we have sold brand messaging
based on specific products offered by our EHR partners, but we have developed
our own proprietary brand messaging system and rolled this product out in 2017.
We have also purchased all available 2018 inventory from Allscripts for its
LogRx brand messaging product, as well as its Infoscripts messaging product.
We believe brand messaging represents a significant growth opportunity for us.
Brand Support – Our brand support is focused on educating and working with pharmaceutical manufacturers on identifying, formulating, and implementing new eRx media strategies for promoting their products. Our services include: 1) Drug File Integration - a service designed to better insure that manufacturers’ drugs are present in every ePrescribing platform available; 2) Sales Force Training – a service to educate the extended field sales force on this new integrated solution and what to look for within their client base to insure maximum exposure of their brands; and 3) Strategy Development – a service that assists pharmaceutical manufacturers in identifying and building a competitive strategy to take advantage of this new digital frontier. Currently, this activity results in less than 10% of our revenue, but represents a significant growth opportunity for us.
Segments
1. Pharmaceutical Services
- This segment encompasses solutions that aim to improve prescription fulfillment and patient adherence processes. Optimizerx Corp partners with pharmaceutical companies to deliver patient support initiatives, which include co-pay assistance, medication reminders, and educational resources.
2. Health Technology Solutions
- The health technology segment features tools and platforms designed to enhance communication between healthcare providers and patients. This includes digital platforms that integrate with electronic health records (EHR) to streamline the prescribing process and facilitate better medication management.
3. Patient Engagement Solutions
- This segment focuses on engaging patients through digital marketing solutions and platforms that assist in informing and guiding patients regarding their medications. It provides personalized resources that help manage chronic diseases and ensures that patients have access to their medications.
4. Data Analytics Services
- Optimizerx implements data analytics to derive insights from healthcare data. This segment involves analyzing patient outcomes, medication usage patterns, and treatment efficacy, enabling healthcare providers and pharmaceutical companies to make informed decisions.
Products
1. Patient Support Programs
- These programs are tailored to assist patients in understanding their treatment options, managing their medications, and accessing financial assistance programs available for specific drugs.
2. E-Prescribing Solutions
- Optimizerx offers advanced e-prescribing solutions aimed at simplifying the prescription process for healthcare providers. These solutions help to reduce errors, streamline workflows, and enhance the speed of pharmacy delivery.
3. Medication Management Tools
- These tools support both patients and healthcare professionals in tracking medication schedules, dosages, and refills. They often include reminders and alerts to improve adherence.
4. Digital Health Platforms
- Optimizerx develops integrated digital platforms that allow healthcare providers to engage with patients via telehealth services, educational content, and personalized care plans.
5. Access and Affordability Programs
- This product suite includes various programs that help patients access medications at a lower cost through co-pay cards, discounts, and patient assistance programs developed in collaboration with pharmaceutical manufacturers.
Services
1. Consultation Services for Healthcare Providers
- Optimizerx offers consulting services that help healthcare providers optimize their prescribing practices to enhance patient outcomes and navigate the complexities of the pharmaceutical landscape.
2. Implementation and Support Services
- The company provides implementation support for its technology solutions, ensuring seamless integration with existing healthcare systems and ongoing technical assistance.
3. Training and Educational Services
- Training programs are available for healthcare providers, pharmacy staff, and patients, focusing on best practices in medication management, patient engagement techniques, and the effective use of digital health tools.
4. Custom Solutions Development
- Optimizerx works with healthcare institutions and pharmaceutical companies to develop customized solutions that address specific challenges in medication management, patient support, and healthcare delivery.
5. Data Analytics and Reporting Services
- The company offers services that involve collecting, analyzing, and reporting healthcare data to provide insights into patient outcomes and treatment effectiveness. These services support healthcare providers in making informed clinical decisions.
Summary
In summary, Optimizerx Corp addresses a wide range of challenges in the healthcare system, particularly related to medication access and adherence. Through its diverse segments, product offerings, and comprehensive services, the company aims to foster better health outcomes for patients while simplifying processes for healthcare providers and pharmacies. By leveraging technology and data analytics, Optimizerx is well-positioned to enhance the overall pharmaceutical experience for stakeholders across the healthcare ecosystem.
