AdhereTech
Name: AdhereTech
Location: New York, New York
Money Raised: $2.5 million
The Product
AdhereTech smart pill bottles automatically measure if patients have taken their medication. All data is automatically sent from the bottles to AdhereTech servers via the cellular network, where it is analyzed in real-time. The system automatically compares what patients are doing to what they should be doing. If a dose is missed, AdhereTech reminds the patient and/or caregiver via a series of customizable features, such as automated phone calls or text messages – as well as on-bottle lights and chimes. If the system notices certain patterns of non-adherence, it can solicit feedback from patients and/or route alerts to live healthcare practitioners for immediate intervention.
The Impact
AdhereTech’s smart pill bottles have been used by top healthcare companies since 2013. On average, AdhereTech increases adherence by over 20 percent, and increase time-on-therapy by over 30 percent. This translates directly into improved outcomes.
AdhereTech’s data is incredibly valuable, and analyzing it could unlock the keys to improving adherence, patient engagement, patient support, and care coordination.
Customers or Pilot Projects
AdhereTech has active customer engagements with a number of top healthcare firms, including: three top-15 pharmaceutical companies (confidential), four top-20 national specialty pharmacies (confidential), Mount Sinai Health System, The Dana Farber Cancer Institute, Massachusetts General Hospital, Cincinnati Children’s Hospital, UnitedHealthcare, AARP, Weill Cornell Medical College, The Walter Reed National Military Medical Center, and more.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Revenue Model
AdhereTech partners with pharma companies to pay for the company’s solution, and it’s always free for patients.
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