New Albany Tech Firm Disrupting Rx Space
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA New Albany-based medical technology company is gaining market traction and disrupting the specialty medications sector. RxLightning Specialty Enrollment Platform received two awards during TechPoint’s 2022 Mira Awards, including Tech Product of the Year and Startup of the Year. The platform connects prescribers, specialty pharmacies, manufacturers, hubs, payers and foundations in one place, while removing a cumbersome paper trail.
In an interview on Inside INdiana Business with Gerry Dick, Chief Executive Officer and co-founder Julia Regan explained how the digital process is dramatically cutting wait times for specialized therapies.
“When providers prescribe those medications, there’s a lot of paperwork, phone calls and faxes that occurred. And as a result, sometimes takes weeks or months for patients to get through the approval processes and get to start the meds,” said Regan, who explained the RxLighting platform automates all of the paper processes.
“And now patients are getting the medications and days instead of weeks,” added Regan.
Regan says the platform has 1,200 specialty medications in its system. Previously, each would have required a different paper process for each therapy prescribed by providers. But now it’s narrowed to a single path.
“We create a unique experience for providers where they could complete all these different paper processes in a single experience,” said Regan. “It becomes very user friendly to the offices and very quick and easy.”
TechPoint, the state’s nonprofit tech accelerator, hosts the Mira awards which honors the best in Indiana tech entrepreneurs and innovators. While RxLightning won two awards, it was nominated in three categories.
Lauren James, who serves as TechPoint’s vice president of stakeholder engagement, says you can sense the passion and energy emanating from the growing company in Floyd County.
“They’re disrupting the medical market particularly for those specialty medications,” said James. “It’s complicated. It’s paper heavy, but they’re streamlining a process that would take a couple of weeks into hours…that’s saving live lives while doing so.”
The company launched in late 2020 with just two employees. It has a staff of 23 and Regan says she hopes to double the staff size by the end of this year.
This year’s winners are represented throughout the entire state, including Fishers, Noblesville, Nappanee, New Albany, Indianapolis and West Lafayette. They were selected by a group of 52 independent judges.
Click here to view the full list of winners.