TailorMed, a navigation platform that helps healthcare organizations and patients remove financial barriers to care, has acquired Vivor, a financial assistance technology platform for healthcare providers and life sciences.
Joining forces will accelerate development of innovative solutions and expand market reach to help reduce the cost of treatment for more patients, while improving the financial performance of healthcare organizations, TailorMed said in a news release. This comes at a time when rising out-of-pocket costs have led to $140 billion in medical debt and hospitals incurring $41 billion in uncompensated care.
The combined companies said they create the largest network of provider, pharmacy, and life sciences companies in the market, helping reach more patients in financial need. In partnership with 900 healthcare facilities, the companies together have secured over $1 billion in funding for patients, from over 5,000 funding programs covering more than 1,000 specific chronic conditions, such as multiple sclerosis, diabetes, COPD, and cancer. Read more.
