TailorMed, a leading financial navigation technology company that helps patients and healthcare organizations remove financial barriers to care, closed out 2022 with momentum and growth, and an eye towards further progress and market traction in 2023. Last year, the company strengthened its network and further developed its best-in-class solutions that enable healthcare entities to proactively identify financially at-risk patients and automate enrollment in vital cost-saving resources.
Rising healthcare costs and high inflation have deepened affordability challenges for patients and the entire health system. TailorMed’s network-driven, technology-powered approach offers a comprehensive solution by uniting all impacted parties with the same goal: to ensure all patients across all medical conditions can afford care. In 2022, the company expanded its network – already the nation’s largest – with the addition of new providers, pharmacies, life science companies, and other partners. TailorMed’s solutions have now been implemented across more than 500 hospitals, 1,000-plus clinics, nearly 600 pharmacies, five life science companies, and 65 brands. Its network includes more than 133,000 physicians and over 13.5 million patients, who account for more than 87 million prescriptions.
With patients at the heart of its mission, TailorMed secured $1.75 billion in patient funding in 2022 – from resources ranging from drugmaker copay assistance to charitable funds. This brings the cumulative value of patient funding secured since the company’s founding in 2016 to over $2.9 billion. TailorMed’s reach now spans more than 6,000 assistance programs, covering more than 1,000 chronic conditions. In fact, the company’s commitment to purpose-driven innovation was recognized by the 2022 UCSF Digital Health Awards. Selected from hundreds of companies, TailorMed was named a best-in-class finalist in the Patient Cost Savings category.
In 2022, TailorMed also focused on empowering patients and meeting healthcare consumers’ growing demand for more seamless, user-friendly financial experiences. The company looks forward to continued progress toward this and other initiatives in 2023.
“I’m incredibly proud that 2022 was such a landmark year for the company,” said Srulik Dvorsky, CEO and Co-Founder of TailorMed. “We are energized by our accomplishments and look forward to building on last year’s momentum as we enter 2023. Our success overall – including the expansion of our network, technology advancements, and award wins – is a testament to the value we provide to both healthcare organizations and patients alike. As the healthcare industry continues to evolve in 2023 and beyond, we are well-positioned to make an even bigger impact and to realize our vision of affordable care for all.”
To learn more about TailorMed’s advancements in the last year, please visit: https://tailormed.co/2022-year-in-review/. For more information on the company’s platform and to see if it might benefit your healthcare entity, please visit: https://tailormed.co/platform/.
About TailorMed:
TailorMed offers the nation’s largest network of patients, providers, pharmacies, partners, and life science companies focused on ensuring all patients across all medical conditions can afford treatment. Driven by TailorMed’s best-in-class platform, network constituents can proactively identify, match, and enroll patients in financial assistance programs to deliver a world-class patient financial experience while reducing the cost of care delivery and increasing revenues. TailorMed’s secure, web-based financial assistance solutions are deployed across more than 1,000 sites of care, including Providence Health, UnityPoint Health, Yale-New Haven Health, and Advocate Aurora Health. To learn more, go to tailormed.co.
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