Yesterday HealthVerity announced its acquisition of Curisium, an innovator in cloud-based drug rebate processing and contract performance management. Its infrastructure supports contract management and adjudication through high-governance, privacy-compliant data sharing.
HealthVerity CEO Andrew Kress weighed in on why the timing of this acquisition is just right: “Considering the process changes due to COVID-19 disruption as well as the upcoming proposed changes to VBA rules, we believe this is an opportune time to scale additional tools in the market that facilitate data partners and clients transacting around specific contracts more efficiently.” From the latest press release, “the combination of HealthVerity and Curisium will deliver a more complete and responsive infrastructure for high-governance, privacy-compliant data sharing between pharmaceutical manufacturers, pharmacy benefits managers (PBMs) and payers.”
The acquisition will help support life sciences clients by extending HealthVerity’s offerings to include Curisium’s technology platform, an operating system that delivers automated workflows standardizing contracting, adjudication and payment processes, and replacing disparate analog processes and spreadsheets.
Curisium brings together cutting-edge data management and quantitative analytics to enable data-driven decision making. The platform enables payers, pharmaceutical manufacturers and providers to enter into innovative contracting arrangements in a secure, efficient, scalable way. Founded in 2016 by Peter Kim and Francis Lam, Curisium set out to combine verification and automation technology to rapidly accelerate the breadth and depth of innovative contracting arrangements.
In 2017, Curisium received $3.5M in seed financing from Flare Capital Partners (also an investor for HealthVerity), New Enterprise Associates (NEA), Shuttle Fund, Sanofi Ventures and Green Bay Ventures. Since then, they’ve onboarded clients from several of the largest pharmacy benefit managers (PBMs) in the country.
HealthVerity and Curisium share a common mission of connectivity and transparency. From Andrew Kress: “Curisium had the vision to build an innovative framework and SaaS platform that allows parties to seamlessly negotiate and visualize contractual relationships around drug utilization, which is fundamentally similar to the HealthVerity approach to making our data ecosystem available for data sharing or analytic applications.” He continues, “The idea of creating a frictionless, standardized, scalable architecture to support privacy-protected data workflows is complementary to everything that we do.”
The entire Curisium team, led by co-founders Peter Kim and Francis Lam, will be joining HealthVerity.
What does this mean for HealthVerity users?
With the addition of Curisium’s platform, HealthVerity clients can now move away from the manual processes they’re used to. They now have an opportunity to take advantage of enhanced collaboration through shared visibility into contract performance and benefit design impact, ultimately resulting in improved patient outcomes. Curisium’s core product automates how contracts are negotiated, managed and paid to create more repeatable, transparent workflows. The technology is generalizable to any client in the life sciences that require contracts for pharmaceutical reimbursement.
From yesterday’s press release: “For pharmaceutical manufacturers, brands can more efficiently track the funds flow on existing contracts, better incorporate third-party data to understand the healthcare journey of patients on therapy and leverage more advanced technologies to optimize the design and ultimate success of value-based contracts. For PBMs and payers, HealthVerity now represents a turnkey solution for simplification of the contracting and adjudication process, enabling privacy-protected data exchange that establishes trust between counterparties in pursuit of cost-effective treatment pathways, advanced analytics and superior patient outcomes.”
For both Curisium and HealthVerity clients, this represents expanded data access and technical capabilities across a multitude of timely uses cases in the healthcare industry. We're excited to share more information, but for now, it is business as usual. Contact us for additional information regarding this announcement.