Every year, Fast Company releases a list of the World’s Most Innovative Companies. For 2020, RxSense—SingleCare’s parent company—was among the 434 most innovative companies across the globe, earning the #7 spot in the Health category.
The annual ranking showcases businesses that are changing industry and culture. This year’s 434 winners hail from 39 different countries around the world. Previous health winners include Oscar Health and One Medical.
Fast Company editors seek out groundbreaking companies and judge nominees on their innovation and impact. It’s one of their most highly anticipated features of the year. RxSense received this honor for its work disrupting the pharmaceutical industry, and making prescriptions more affordable to U.S. consumers.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky. “These companies are applying creativity to solve challenges within their industries and far beyond.”
People in the U.S. spend more on prescriptions than any other country in the world.
Nearly 1 in 4 people have trouble affording their meds; many don’t take prescribed medication because of the cost. RxSense and SingleCare are working to solve this problem.
RELATED: What is SingleCare?
RxSense is a high growth healthcare technology company that was founded in 2015 with a mission to develop technology solutions that improve healthcare transparency and access to more affordable medications. CEO and co-founder, Rick Bates, brought a seasoned group of healthcare veterans familiar with the challenges of the industry and paired them with a savvy tech team to develop a sophisticated architecture to address the pain points of pharmacy benefits administration. The result was RxAgile, a cutting-edge cloud-based platform that’s smart and simple to use, offering the speed and flexibility to meet the needs of any client. RxSense also utilizes its advanced platform and direct contracts with the nation’s largest pharmacies (including CVS, Walmart and Walgreens) to deliver consistently low prices direct to consumers on prescription drugs through both its SingleCare and FamilyWize prescription savings services, available via web, mobile app and pharmacy cards.
And, they’re working to bring price transparency to the traditionally opaque industry through these partnerships directly with pharmacies. Using machine learning and AI to handle tens of thousands of prescriptions per day, the companies help consumers save up to 80% on medications they need. When pharmacies and customers can compare prices, they can make the best decisions—for their health and their wallets.
The consistently low prices that RxSense and SingleCare deliver improve adherence to medication, and enable millions of consumers to lead healthier lives.
Fast Company’s Most Innovative Companies issue is now available online, where you can read about RxSense’s award.