Rx Redefined raises $8M
By HME News Staff
Updated 8:40 AM CST, Mon January 23, 2023
OAKLAND, Calif. – Rx Redefined, a tech-enabled provider of medical supply services for group practices, has raised $8 million in Series A funding. The round was led by Crosscut Ventures Management, with participation from Tusk Venture Partners, Silverton Partners, Pisgah Fund and Jeff Immelt, former CEO of General Electric. The platform allows physicians to directly order and fulfill the supplies they believe are in the patient's best interest, thereby reducing handoffs and improving the patient experience. "Today, when a patient is prescribed recurring use of medical supplies, like a catheter to empty their bladder or a glucose monitor for diabetes, the purpose of this device is to support a failing organ," said Brandon Boots, CEO and founder of Rx Redefined. "This is intimate and time-sensitive, yet the current standard of care is to fax a prescription off to a big box distributor in the hope that they will support the patient's insurance and fulfill the product timely. Unfortunately, the reality is unnecessary hoops, insurance complications, and product switching in the name of increased margin. Ultimately this delay leads to the patient suffering." Rx Redefined, which launched in 2018, has enabled physicians to distribute millions of medical products to their patients. In the last year, Rx Redefined increased its physician population by 450%.
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