Truentity Health, a Cary-based health platform bringing technology solutions to pharmacies, has announced a merger with IndyCare Health, based in Chapel Hill.
This merger combines Truentity Health’s technology platform with IndyCare’s access to physician oversight. Now, the combined companies have a product that enables pharmacies to be clinical hubs, better serving the Medicare beneficiaries that visit them regularly.
Truentity Health and IndyCare have been working together for over a year, said Truentity Health Co-Founder and CEO Mike Desai. They officially merged at the beginning of May.
“At the end of the day, it benefits the patient because now pharmacies are more efficient and they don’t have to worry about dealing with multiple vendors, multiple technologies,” Desai said. “They get it all in a single platform.”
Both Desai and Truentity Health Co-Founder and CTO Rajeev Tipnis will continue in their current roles. IndyCare Co-Founders Franklin Roye and Greg Vassie will join Truentity as Chief Commercial Officer and Chief Strategy Officer, respectively. IndyCare’s Joshua Dobstaff will join as Chief Medical Officer.
As of March 2023, over 65 million people were enrolled in Medicare. While many of these beneficiaries qualify for various clinical programs, Desai said, many of them don’t receive those benefits due to their doctors’ lack of resources and other logistical challenges.
On average, Medicare beneficiaries visit their pharmacists six times more often than they visit their doctors, and Truentity Health’s mission is to enable pharmacies to enhance those visits by providing more clinical services to patients.
Since merging with IndyCare, Truentity Health provides a single platform for pharmacies that encompasses technology, physician oversight, medical billing and legal compliance, allowing pharmacies to serve Medicare beneficiaries consistently.
Prior to merging, the two health companies already had joint customers. The onboarding process for Truentity Health took about four to six weeks before the pharmacies could begin seeing their first patients. Now, the collaboration between Truentity Health and IndyCare will allow pharmacies to simplify that process, with just one contract to sign and a 14-day onboarding period.
“They can now quickly offer clinical services to their patients that need it the most,” Desai said.
This merger has created a streamlined workflow, Desai added, allowing pharmacies in rural areas—which sometimes don’t have the resources or technology to bill Medicare—to offer clinical services at a much faster pace. This merger allows the 60,000 pharmacies in the U.S. to provide the services that their patients need.
Desai said IndyCare brings the ability to bill Medicare for those clinical services, and Truentity Health’s technology allows the company to simplify that billing process with AI capabilities.
In terms of any changes to the front end of the platform, patients will not see any differences and can continue usage as before.
“We take care of everything—from technology, to providing remote patient monitoring, to billing, to compliance, to quality, to physician oversight—all of that is handled by us, and the pharmacies just have to make sure they connect with the patients, and give them the service that they deserve and they need,” Desai said.
