{"id":12819,"date":"2024-09-02T12:04:47","date_gmt":"2024-09-02T12:04:47","guid":{"rendered":"https:\/\/distilinfo.com\/healthplan\/?p=12819"},"modified":"2024-09-02T12:04:47","modified_gmt":"2024-09-02T12:04:47","slug":"waltz-health-launches-platform","status":"publish","type":"post","link":"https:\/\/distilinfo.com\/healthplan\/waltz-health-launches-platform\/","title":{"rendered":"Waltz Health Launches Platform to Slash Specialty Drug Costs"},"content":{"rendered":"\r\n<div id=\"rank-math-toc\" class=\"wp-block-rank-math-toc-block has-pale-ocean-gradient-background has-background\"><nav>\r\n<ul>\r\n<li><a href=\"#introduction\">Introduction<\/a><\/li>\r\n<li><a href=\"#overview-of-waltz-health-and-waltz-connect\">Overview of Waltz Health and Waltz Connect<\/a><\/li>\r\n<li><a href=\"#the-rising-challenge-of-specialty-drug-costs\">The Rising Challenge of Specialty Drug Costs<\/a><\/li>\r\n<li><a href=\"#how-waltz-connect-is-revolutionizing-specialty-pharmacy\">How Waltz Connect is Revolutionizing Specialty Pharmacy<\/a>\r\n<ul>\r\n<li><a href=\"#ai-powered-pharmacy-routing\">AI-Powered Pharmacy Routing<\/a><\/li>\r\n<li><a href=\"#partnership-with-reliance-rx\">Partnership with Reliance Rx<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li><a href=\"#waltz-healths-impact-on-payers-and-patients\">Waltz Health&#8217;s Impact on Payers and Patients<\/a>\r\n<ul>\r\n<li><a href=\"#savings-for-large-health-plans\">Savings for Large Health Plans<\/a><\/li>\r\n<li><a href=\"#enhancing-patient-experience\">Enhancing Patient Experience<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li><a href=\"#the-future-of-pharmacy-benefit-management\">The Future of Pharmacy Benefit Management<\/a><\/li>\r\n<li><a href=\"#frequently-asked-questions-fa-qs\">Frequently Asked Questions (FAQs)<\/a>\r\n<ul>\r\n<li><a href=\"#q-1-what-is-waltz-connect\">Q1: What is Waltz Connect?<\/a><\/li>\r\n<li><a href=\"#q-2-how-does-waltz-connect-help-reduce-drug-costs\">Q2: How does Waltz Connect help reduce drug costs?<\/a><\/li>\r\n<li><a href=\"#q-3-who-are-waltz-healths-partners-in-this-initiative\">Q3: Who are Waltz Health\u2019s partners in this initiative?<\/a><\/li>\r\n<li><a href=\"#q-4-what-savings-can-be-expected-by-using-waltz-connect\">Q4: What savings can be expected by using Waltz Connect?<\/a><\/li>\r\n<li><a href=\"#q-5-what-are-waltz-healths-future-plans\">Q5: What are Waltz Health&#8217;s future plans?<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li><a href=\"#conclusion\">Conclusion<\/a><\/li>\r\n<\/ul>\r\n<\/nav><\/div>\r\n\r\n\r\n\r\n<h3 id=\"introduction\" class=\"wp-block-heading\">Introduction<\/h3>\r\n\r\n\r\n\r\n<p>In a healthcare landscape where specialty drug costs are skyrocketing, Waltz Health has introduced a game-changing solution. The digital health company has unveiled its latest platform, Waltz Connect, designed to reduce the financial burden of specialty medications. By partnering with Reliance Rx, a pharmacy specializing in these high-cost drugs, Waltz Health aims to deliver cost-effective solutions while improving the overall experience for patients and pharmacies alike.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"overview-of-waltz-health-and-waltz-connect\" class=\"wp-block-heading\">Overview of Waltz Health and Waltz Connect<\/h3>\r\n\r\n\r\n\r\n<p><a href=\"http:\/\/Waltz Connect Aims to Cut Specialty Drug Costs with AI ... HLTH Community https:\/\/community.hlth.com \u203a articles\" target=\"_blank\">Waltz Health<\/a> is a digital health company committed to transforming how specialty medications are managed and distributed. Their newest innovation, <a href=\"http:\/\/Waltz Health Launches Waltz Connect to Lower Costs ... Access Market Intelligence https:\/\/accessmarketintell.com \u203a 2024\/08\/28 \u203a waltz-healt...\" target=\"_blank\">Waltz Connect<\/a>, is a platform focused exclusively on specialty drugs, which are known for treating complex and often chronic conditions. These drugs, while vital, contribute significantly to the rising costs in the pharmaceutical sector.<\/p>\r\n\r\n\r\n\r\n<p>The platform leverages cutting-edge AI technology to streamline the distribution of specialty medications, ensuring that they are routed to the most efficient pharmacies based on several key factors. This approach not only reduces costs but also enhances the accuracy and speed of drug fulfillment.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"the-rising-challenge-of-specialty-drug-costs\" class=\"wp-block-heading\">The Rising Challenge of Specialty Drug Costs<\/h3>\r\n\r\n\r\n\r\n<p>Specialty drugs represent a small fraction of total prescriptions in the U.S., accounting for less than 5% of the 7 billion prescriptions filled annually. However, they are responsible for a staggering 54% of the total drug costs, making them a significant financial challenge for payers, patients, and the healthcare system at large.<\/p>\r\n\r\n\r\n\r\n<p>According to Jeff Park, President of Waltz Health, the high costs associated with specialty drugs are a direct result of the focus and resources that pharmaceutical manufacturers are dedicating to these treatments. As these drugs become more prevalent, innovative solutions are necessary to manage and mitigate their impact on healthcare budgets.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"how-waltz-connect-is-revolutionizing-specialty-pharmacy\" class=\"wp-block-heading\">How Waltz Connect is Revolutionizing Specialty Pharmacy<\/h3>\r\n\r\n\r\n\r\n<h4 id=\"ai-powered-pharmacy-routing\" class=\"wp-block-heading\">AI-Powered Pharmacy Routing<\/h4>\r\n\r\n\r\n\r\n<p>At the heart of Waltz Connect&#8217;s innovation is its AI-powered engine, which intelligently routes specialty drugs to the most suitable pharmacy. This process takes into account various factors such as price, location, turnaround time, adherence rates, and fulfillment accuracy. By optimizing these elements, Waltz Connect ensures that patients receive their medications promptly and at the lowest possible cost.<\/p>\r\n\r\n\r\n\r\n<p>This technology is reminiscent of Waltz Health&#8217;s Marketplace Search tool, a feature widely used in Medicare Advantage plans. The success of this tool in routing standard medications has laid the groundwork for Waltz Connect&#8217;s specialized focus on high-cost drugs.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"partnership-with-reliance-rx\" class=\"wp-block-heading\">Partnership with Reliance Rx<\/h4>\r\n\r\n\r\n\r\n<p>A key component of Waltz Connect\u2019s strategy is its partnership with Reliance Rx, a pharmacy dedicated entirely to the distribution of specialty drugs. This collaboration is part of a broader network comprising 80 different dispensing locations. By offering payers a diverse array of pharmacy options, Waltz Health provides unparalleled flexibility and cost-saving opportunities.<\/p>\r\n\r\n\r\n\r\n<p>Traditionally, health plans have relied on a single specialty pharmacy, limiting their ability to shop around for better prices or service levels. Waltz Connect disrupts this model by introducing multiple pharmacy options, thereby enhancing competition and driving down costs.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"waltz-healths-impact-on-payers-and-patients\" class=\"wp-block-heading\">Waltz Health&#8217;s Impact on Payers and Patients<\/h3>\r\n\r\n\r\n\r\n<h4 id=\"savings-for-large-health-plans\" class=\"wp-block-heading\">Savings for Large Health Plans<\/h4>\r\n\r\n\r\n\r\n<p>Waltz Health&#8217;s innovative approach has already started to yield significant savings for large health plans. Companies such as UnitedHealthcare and Humana, along with alternative providers like Mark Cuban&#8217;s Cost Plus Drug Company, have begun to realize the financial benefits of using Waltz Connect. Jeff Park notes that these large plans can anticipate savings of 10% to 15% on their specialty drug spending.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"enhancing-patient-experience\" class=\"wp-block-heading\">Enhancing Patient Experience<\/h4>\r\n\r\n\r\n\r\n<p>Beyond the financial advantages, Waltz Connect is also designed to enhance the overall patient experience. By ensuring that specialty drugs are delivered quickly and accurately, the platform helps patients maintain better adherence to their treatment plans. This not only improves health outcomes but also reduces the likelihood of costly complications arising from missed or delayed medications.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"the-future-of-pharmacy-benefit-management\" class=\"wp-block-heading\">The Future of Pharmacy Benefit Management<\/h3>\r\n\r\n\r\n\r\n<p>Waltz Health is not just stopping at specialty drugs. The company has broader ambitions to become a full-scale pharmacy benefit manager (PBM). CEO and co-founder Mark Thierer, a former executive at OptumRx, envisions a future where Waltz Health can outperform traditional PBMs by offering a more transparent and efficient model.<\/p>\r\n\r\n\r\n\r\n<p>Jeff Park emphasizes that the current models in pharmacy benefit management are outdated and convoluted, often obscured by rebates, fees, and complex corporate structures. Waltz Health\u2019s &#8220;new model&#8221; aims to simplify this landscape, providing clear and direct cost savings to payers and patients alike.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"frequently-asked-questions-fa-qs\" class=\"wp-block-heading\">Frequently Asked Questions (FAQs)<\/h3>\r\n\r\n\r\n\r\n<h4 id=\"q-1-what-is-waltz-connect\" class=\"wp-block-heading\">Q1: What is Waltz Connect?<\/h4>\r\n\r\n\r\n\r\n<p>A. Waltz Connect is a specialty pharmacy platform developed by Waltz Health that uses AI technology to route specialty drugs to the most efficient pharmacy based on price, location, and other key factors.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"q-2-how-does-waltz-connect-help-reduce-drug-costs\" class=\"wp-block-heading\">Q2: How does Waltz Connect help reduce drug costs?<\/h4>\r\n\r\n\r\n\r\n<p>A. The platform optimizes the distribution of specialty drugs, ensuring they are delivered at the lowest possible cost by leveraging a network of pharmacies and sophisticated AI routing.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"q-3-who-are-waltz-healths-partners-in-this-initiative\" class=\"wp-block-heading\">Q3: Who are Waltz Health\u2019s partners in this initiative?<\/h4>\r\n\r\n\r\n\r\n<p>A. Waltz Health has partnered with Reliance Rx, a specialty pharmacy, and collaborates with large insurers like UnitedHealthcare and Humana.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"q-4-what-savings-can-be-expected-by-using-waltz-connect\" class=\"wp-block-heading\">Q4: What savings can be expected by using Waltz Connect?<\/h4>\r\n\r\n\r\n\r\n<p>A. Large health plans can expect to save between 10% and 15% on their specialty drug spending by utilizing Waltz Connect.<\/p>\r\n\r\n\r\n\r\n<h4 id=\"q-5-what-are-waltz-healths-future-plans\" class=\"wp-block-heading\">Q5: What are Waltz Health&#8217;s future plans?<\/h4>\r\n\r\n\r\n\r\n<p>A. Waltz Health aims to expand its role and become a full-scale pharmacy benefit manager, offering a more transparent and effective model compared to traditional PBMs.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"conclusion\" class=\"wp-block-heading\">Conclusion<\/h3>\r\n\r\n\r\n\r\n<p>Waltz Health\u2019s introduction of the Waltz Connect platform marks a significant step forward in addressing the escalating costs of specialty drugs. By utilizing AI technology and forming strategic partnerships with specialty pharmacies like Reliance Rx, Waltz Health is not only driving down costs but also improving the overall patient experience. As the company continues to grow, its vision of transforming pharmacy benefit management could pave the way for a more transparent and cost-effective healthcare system.<\/p>\r\n\r\n\r\n\r\n<p><span class=\"ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak\" dir=\"ltr\">Discover the latest <a id=\"menurhl\" class=\"fui-Link ___1rxvrpe f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1hu3pq6 f11qmguv f19f4twv f1tyq0we f1g0x7ka fhxju0i f1qch9an f1cnd47f fqv5qza f1vmzxwi f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn\" title=\"https:\/\/distilinfo.com\/healthplan\/\" href=\"https:\/\/distilinfo.com\/healthplan\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Link payers&#039; news updates\"><strong>payers&#8217; news updates<\/strong><\/a> with a single click. 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The digital&#8230; <a href=\"https:\/\/distilinfo.com\/healthplan\/waltz-health-launches-platform\/\" style=\"white-space: nowrap;\">Continue Reading <i class=\"fas fa-long-arrow-alt-right\" style=\"vertical-align: middle;\"><\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":12820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[250],"class_list":{"0":"post-12819","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-distilinfo-originals","8":"tag-waltz-health","9":"entry"},"_links":{"self":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/12819"}],"collection":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/comments?post=12819"}],"version-history":[{"count":4,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/12819\/revisions"}],"predecessor-version":[{"id":12825,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/12819\/revisions\/12825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media\/12820"}],"wp:attachment":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media?parent=12819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/categories?post=12819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/tags?post=12819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}