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Today, Kalderos launched our first-ever annual report, and we’re so excited to share it with you.
The 2021 annual report brings together powerful, data-driven insights into the drug channel; accessible, engaging infographics and design; a brief company history; our product design philosophy; and our big picture perspective on the challenges that face drug discount and rebate programs, and how we can fix them to better serve patients.
“As we dive deeper into 2021, we see big developments on the horizon for the business of healthcare,” said Jeremy Docken, Kalderos co-founder and CEO. “Industry trends are driving change and so is the massive impact of COVID-19. A new administration is tackling drug pricing. During this pivotal moment, it’s the perfect time to launch our inaugural annual report.”
Never-before-published insights leveraged from Kalderos’ proprietary data
These original findings include Kalderos’ estimated total duplicate discounts between the 340B Drug Pricing Program and the Medicaid Drug Rebate Program. Our projections suggest that these duplicate discounts, which are prohibited by statute, reached anywhere from $933 million to $1.6 billion in 2019. We estimate that 68% of this 2019 total originates from managed Medicaid programs (MCOs).
Additional insights track the growth of drug rebates and discounts across Medicaid, Medicare Part D, commercial insurance and 340B. Our data science team calculates a compound annual growth rate of 47% in 340B from 2014-2019, highlighting the significance of this program and the crucial need for program stakeholders to solve program challenges through trust, transparency and collaboration.
Key metrics describing Kalderos’ rapid growth as a company and expanding network of stakeholder partners
The 2021 annual report also charts our fast expansion as a health tech company, since our launch in 2016, $7 million in Series funding in 2019 and $28 million in Series B funding in 2020.
Since receiving our Series B funding in June 2020, we’ve added 70+ new hires to the team, more than doubling in size in less than a year (all while working remotely!).
Likewise, we’ve dramatically expanded our network of stakeholder partners in 340B. Our drugmaker partners now account for around a quarter of all Medicaid prescription drug spend. More than half of all hospitals who participate in the 340B program now use our provider-facing Discount Monitoring tool, Kalderos Review. And nearly every state Medicaid agency has worked with us to identify and resolve duplicate discounts.
A company-wide collaboration
As Kalderos continues to rapidly scale, challenging ourselves to take on this new initiative — and define what an annual report means to us as a growing company — has been a rewarding and exciting milestone in our journey. Our 2021 annual report is the culmination of months of research, planning, number-crunching, writing and design (not to mention years of data associated with our first-of-its-kind Drug Discount Management platform). It was a company-wide effort, driven by collaboration across a number of teams.
Kalderos’ first annual report is the synthesis of years of work and reams of data related to one of healthcare's most intractable problems. This report shares ‘the why’ for so many of us at Kalderos. I'm confident that the collaboration we experience at Kalderos, all across our passionate, talented and committed team, will chart our course towards a more transparent and equitable future for all stakeholders in healthcare."
<span class="quote-author">Micah Litow</span>
<span class="quote-title">President and COO, Kalderos</span>
