SAN FRANCISCO, Oct. 16, 2019 /PRNewswire/ -- Goldman Sachs is recognizing Sempre Health's founder and CEO Anurati Mathur as one of the 100 Most Intriguing Entrepreneurs of 2019 at its Builders + Innovators Summit in Santa Barbara, Calif. Goldman Sachs selected Mathur as one of 100 entrepreneurs from multiple industries to be honored at the three-day event.
Drug costs are one of the main reasons why roughly half of all Americans with chronic health conditions do not take their medications as prescribed. Failing to refill prescriptions has been shown to cause health complications that cost the U.S. healthcare system between $100 billion and $300 billion per year, leading to more than 100,000 preventable deaths annually.
Sempre Health is the first company with the right mix of technology, behavioral science and business model to help people afford and take their medications. Unlike traditional coupons, Sempre redistributes dollars that are already earmarked for patient assistance to offer dynamic pricing discounts to patients who refill prescriptions as directed by their physician. This enables consumers to benefit from the same cost savings that insurers, care providers and pharmaceutical companies experience when people make responsible health decisions.
The company operates a two-sided marketplace. On one side, manufacturers add their chronic disease medications and their budget. On the other side, health plans select medications for which to offer members dynamically priced discounts. For the member, the program is reminiscent of the "good driver discounts" offered by auto insurance companies. Sempre Health works with leading payers like Blue Cross Blue Shield of Arizona and UPMC, as well as many of the country's top pharmaceutical companies.
"Sempre Health brings the first dynamic pricing to the pharmacy, giving consumers the power to lower what they pay for medications by simply following doctors' orders," said Mathur. "These discounts grow over time with continued adherence, which increases alignment between pharmacies, consumers, payers and pharmaceutical companies. Sempre Health serves as a bridge between these stakeholders, enabling a long-term relationship built on trust."
Government researchers have conclusively linked medication adherence to a drop in adverse health events and preventable death. Based on experience to date, Sempre Health has seen its dynamic discounts significantly boost medication adherence. The company plans to submit its data and research for peer review.
"True innovation is built from a diversity of perspectives and experiences," said David M. Solomon, chief executive officer of Goldman Sachs. "Our Builders + Innovators Summit brings together a collective of impressive future leaders who are striving to drive meaningful change. For 150 years, Goldman Sachs has supported entrepreneurs as they launch and grow their businesses. That's why we are pleased to recognize Anurati Mathur as one of the most intriguing entrepreneurs of 2019."
In addition to honoring 100 entrepreneurs, the summit consists of general sessions and clinics led by seasoned entrepreneurs, academics and business leaders as well as resident scholars.
About Sempre Health
Sempre Health is the first company with the right mix of technology, behavioral science and business model to help people afford and take their medications. Sempre Health aims to boost all of its members' medication adherence to meet or exceed 80 percent -- the widely acknowledged gold standard. Doing so will dramatically improve the health of millions of people and save hundreds of billions of dollars in avoidable medical costs. For more information visit: www.semprehealth.com.
SOURCE Sempre Health