Rx Redefined Raises $8M in Funding to Improve the Experience for Patients Prescribed Recurring Use of Essential Medical Supplies

Rx Redefined, a tech-enabled healthcare company is reimagining the durable medical equipment and prosthetic delivery pathway for patients

OAKLAND, Calif., Jan. 19, 2023 /PRNewswire/ -- Rx Redefined, a tech-enabled provider of medical supply services for group practices, announced it has raised $8M 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.

Launched in 2018, Rx Redefined makes it easier for doctors to help patients obtain the right medical supplies efficiently. As a provider of integrated medical supply services for group practices, Rx Redefined has worked tirelessly to connect care gaps for chronic patients obtaining essential recurring medical supplies used at home. In addition, Rx Redefined oversees licensing, billing, and supply chain services for the physician group. To date, the platform has enabled physicians to distribute millions of medical products to their patients. In the last year, Rx Redefined grew 10x in booked sales and increased its  physician population by 450%.

"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 has built a tech-enabled platform to remove the middleman and drive efficiencies in healthcare," said Brett Brewer, co-founder of LA-based venture fund, Crosscut. "We are thrilled to back Brandon at Rx Redefined. He has spent over a decade working in the medical device industry, and his passion is notably improving the care experience for chronic patients."

Erik Smith, CTO and co-founder, and Jayme Hanson, CCO and co-founder, join Brandon Boots to round out the executive team. Brandon and Jayme bring a combined background of 20+ years in management and commercialization for medical supplies, and Erik has over 10+ years experience of creating B2B and B2C technical products. With the new funding, the company plans to invest in sales acceleration, increase operational efficiencies, and expand its product features.

Rx Redefined is a health tech company transforming the pathway from order to fulfillment for chronic patients obtaining essential medical supplies. Their patented technology platform creates a value-add service to cost-pressured medical practices, reduces patient care gaps, and has demonstrated a reduction in utilization compared to traditional delivery pathways.

Contact: Rachel Livingston, [email protected]

SOURCE Rx Redefined

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