The tech-enabled solution to systemic inefficiencies
How multi-sided platforms are set to transform the business of healthcare
An innovative technological infrastructure that enables communication and enhances transparency can solve the drug channel’s challenges, resolving the systemic inefficiencies that have made drugs unaffordable for the patients who need them most.
That technological solution: the multi-sided platform. A multi-sided platform is built to connect two or more interdependent user groups, minimizing transaction costs in a market. It acts as a central mediator whose robust infrastructure enables direct interactions that would otherwise be impossible.
In our day-to-day lives, multi-sided platforms such as Uber and Lyft have fundamentally altered urban transportation around the world. Airbnb has changed the way we travel and explore new places, and Amazon has altered the retail landscape by connecting sellers and buyers. These are just a few examples.
Less visibly, but just as importantly, multi-sided platforms are transforming the business of healthcare, enabling transparency and efficiency in a highly complex and fragmented market. A few examples include CoverMyMeds, SureScripts and Teladoc. These promising platforms are already helping weed out wasteful healthcare spend. Inspired by this vision, investment in digital health platforms soared 420% between 2017 and 2020.1
To solve the systemic inefficiencies in the drug channel, Kalderos created a multi-sided platform for Drug Discount Management. This is a pivot point for patients. We’re building the infrastructure to make drugs more affordable for patients, and ultimately ensure more discounts directly benefit patients.
The Kalderos platform utilizes machine learning, predictive technology and other tools from data science
The Kalderos platform is built with a blend of traditional and emerging technology, augmented with machine learning and tools from data science. Using predictive algorithms to analyze proprietary data sets, this approach reveals powerful, actionable insights, not just about compliance in drug discount programs, but about the health of the drug distribution system as a whole.
This platform is already making an impact on the 340B space. One key insight that drove our approach from the beginning: because of data integrity and data compatibility issues, only 340B covered entities have the full picture on their dispenses. So, we went directly to our 340B partners to get their insights on more than half a million claims. With their assistance, we’ve assembled the nation’s largest dataset of noncompliant discounts.
Our 340B solutions apply machine learning to these patterns to identify the complex interactions that indicate a likelihood of misapplied and noncompliant discounts. The predictive abilities of these tools are unlike any other organization’s approach, enabling Kalderos to identify misapplied discounts that other solutions miss.
Kalderos’ fast-growing network of covered entity partners
Kalderos works with a rapidly expanding network of safety-net healthcare providers. The majority of 340B covered entity hospitals are now Kalderos Review users. As of 2020, we’re also collaborating with more than 1 in 4 covered entity health centers.
Source: HRSA Office of Pharmacy Affairs; Kalderos Internal Data
Misapplied discounts verified by covered entity partners since 2016
Since Kalderos launched in 2016, our covered entity partners have used the Kalderos Review tool to verify a total of $64 million in duplicate discounts between MDRP and 340B. Their efforts have an impact far beyond the dollar amount; by identifying why and where duplicate discounts happen, Review users are helping every stakeholder in 340B build more robust and sustainable systems.
Source: Kalderos Internal Data
For the Kalderos platform, strong stakeholder relations form a lasting foundation
Key to Kalderos’ approach: supporting the needs of all stakeholders. The Kalderos platform is designed to connect and equalize relationships across the drug channel, bringing fairness and equity while balancing the needs of all stakeholders.
In developing our platform solutions for 340B, we came to the table with that same spirit of collaboration and support. We led meaningful conversations with every kind of stakeholder in the 340B program: covered entities, drug manufacturers, pharmacists, third party administrators, Medicaid officials, and, most importantly, patients.
We continually make improvements based on input from our partners. Thanks to their honest and transparent feedback, we continue to learn more about the challenges in the system, and how to solve them — giving everyone the ability to focus less on administering a complex, fragmented system and more on the health of patients.
Kalderos has built relationships with Medicaid agencies in 49 states
Kalderos works with states to resolve duplicate discounts between 340B and Medicaid. As of 2020, nearly every U.S. state (as well as D.C.) has collaborated with Kalderos to identify and correct misapplied discounts.
Source: Kalderos Internal Data
