WellNet in Washington Biz Journal

Washington Business Journal
Tuesday, January 27, 2009
By Darlene Darcy
Staff Writer

WellNet Healthcare's' Healthcare Interactive has licensed a technology from DestinationRX in Los Angeles to help reduce medical costs for its customers.

Bethesda-based WellNet will use the technology, called DestinationRX Drug Compare, for comparing pharmaceuticals and identifying less expensive drug alternatives to enhance software that it developed with Glenwood-based Healthcare Interactive.

WellNet, which manages health care benefits for commercial customers, is the majority stake holder in Healthcare Interactive, which launched in 2007.

“One of the biggest flaws with the U.S. health care sector is that employers and their employees don’t have the necessary information to make wise decisions about their prescription-drug spending,” said Healthcare Interactive President Henry Cha. “DestinationRx Drug Compare provides an accurate and convenient way for people to find less-expensive prescription drugs.”

WellNet, led by Keith Lemer, and Healthcare Interactive will integrate the drug comparison tool with the Web-based software that the two companies launched in August 2008.

The software, which is compliant with the Health Insurance Portability and Accountability Act (HIPAA), allows employers to manage their employee health care plan by providing timely pharmacy and medical data translated into comprehensive and actionable charts and reports. HIPAA regulations ensure health care coverage and establish privacy standards for electronic communication about patients’ medical information.

The software also helps employers better manage their plans through predictive medical modeling and by linking employers and employees with care providers through social networking tools such as chats, alerts and scheduling.

A test version of the software is being used by 200 of WellNet’s existing health care management clients and is expected to be available commercially in the first quarter of 2009.

With 40 percent growth in 2008, WellNet’s annual revenue is about $100 million, Lemer said. The 50-person health care management company has a small internal sales team that Lemer expects to grow modestly. Lemer said he expects adoption of his software to increase through word of mouth as customers recognize savings.

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