NEW YORK--(BUSINESS WIRE)--At its fifth DokChain Health Alliance meeting, PokitDok today announced that it has acquired the pharmacy and software assets of Oration PBC. The acquisition is closed and terms were not disclosed. Benefit coverage, formulary, and drug cost estimates are often locked away in flat files and formats that are difficult to digitally access or share to power patient experiences. This acquisition enables PokitDok to complete support for delivery of essential commercial pharmacy benefit data, via its APIs, so organizations, providers and consumers have tools to make better healthcare and treatment decisions. Moving forward, these transactions will also be offered to participants in PokitDok’s DokChain network.
“This acquisition rounds out our healthcare enterprise business offering by providing the necessary requirements to process commercial pharmacy benefit transactions that play such a meaningful role in the pharmacy supply chain,” said Lisa Maki, co-founder and CEO, PokitDok. “This strategic investment helps us meet the inbound demand for commercial pharmacy benefit information that can now be built into new digital health applications at scale. It also puts us in an advantageous position to realize new supply chain efficiencies through DokChain as blockchain continues to become increasingly relevant in the business of healthcare.”
To augment its existing pharmacy and clearinghouse services, this strategic purchase grants PokitDok access to commercial pharmacy benefit coverage, formulary, price, and in-network information. PokitDok introduced Pharmacy Benefit and Eligibility tools in 2016 to serve the more than 16 million Medicare Advantage Beneficiaries and 40.5 million who rely on Medicare Part D Prescription Drug Benefit Plans. PokitDok’s pharmacy solutions give physicians, EMRs, and other digital health innovators insight into which medications are covered by a member’s insurance plan before prescribing, and ensures those drugs are available for pick up from a qualified, in-network pharmacy, for a price the consumer can afford.
PokitDok technology solutions, business processes, engineering methodologies, and delivery protocols are designed and executed for security and compliance. PokitDok is HIPAA and PCI compliant, received a Phase IV CAQH® Committee on Operating Rules for Information Exchange (CORE®) Certification Seal, and is accredited by the Electronic Healthcare Network Accreditation Commission (EHNAC).
PokitDok provides a software development platform to free, secure, and unify data that drives the business of healthcare. Its 30 API endpoints facilitate eligibility checks, claims submissions, appointment scheduling, payment optimization, patient identity management, pharmacy benefits, and other business processes. PokitDok maintains Trading Partner agreements with health insurers and payers, that allow data access to more than 4900 plans and affiliates, representing 93 percent of members across the US. Over 1000 third party enterprise applications run on PokitDok, built by healthcare organizations, digital health companies, and business process outsourcing consultants, to improve workflows, cut costs, and speed time to market. PokitDok is based in San Mateo, CA and Charleston, SC and powers DokChain, blockchain for healthcare.