Free Market Health, a healthcare technology company focused on transforming the specialty pharmacy ecosystem, has successfully closed a $20 million Series B funding round led by Questa Capital. The funding will be used to drive business growth, launch channel partnership opportunities, and scale the company’s care-driven marketplace platform.
Specialty drugs are becoming more expensive, with a 50% increase in per member per year specialty drug costs expected from 2022 to 2025. Free Market Health’s platform offers price transparency, equitable access to specialty drug prescriptions, and real-time market competition, ultimately lowering overall specialty drug spend.
The company partners with payers to enhance their specialty drug management programs, ensuring patients have access to high-quality specialty drug providers best suited to their needs.
Through its technology and service model, Free Market Health has seen a 40% reduction in member abandonment of payer-authorized prescriptions and generated program savings of over $2 per member per month (PMPM).
