DocStation, a software company that works with health plans to mobilize pharmacists as front-line care providers, has raised a $3.1 million seed round.
The financing was led by 8VC, a prominent Silicon Valley venture capital firm now based in Austin, Texas. Additional participants include UnityPoint Health Ventures, Cartmell Ventures, Free Solo Ventures, Wanxiang Healthcare, Omega Pharmacy Group and Techstars.
DocStation was founded by Samm Anderegg, PharmD, and former InVision engineer Josh Matz. After completing residency training, Anderegg moved into healthcare administration and became frustrated with the underutilization of pharmacists as a clinical resource. He and Matz met in Austin and mapped out a plan to build a platform that empowers pharmacists as healthcare providers.
DocStation partners with health plans to administer clinical programs through America’s vast network of pharmacies. The DocStation platform leverages built-in intelligence to identify at-risk patients and guides pharmacists to close gaps in care. Health plans pay pharmacists to improve patient outcomes through value-based incentives configured in the platform.
Over several decades, pharmacists have become increasingly involved in patient care, but lack a clear pathway to payment for services. The COVID-19 pandemic has illuminated significant access gaps and inequities in our healthcare delivery system. DocStation activates the nation’s most underutilized healthcare professionals to address our most pressing challenges.
Anderegg believes the company will fundamentally change the role of pharmacists in the U.S. healthcare system.
“Pharmacists are the most accessible healthcare providers in this country and we are still paid to count pills. The pharmacy business model is broken. We plan to fix it with technology that aligns incentives across all stakeholders and increases access to safe, affordable, high-quality healthcare for all people.”
DocStation launched its first health plan-sponsored program in 2018. Today, over 500 pharmacies serving half-a-million patients use DocStation to provide chronic disease management and preventive care services.
The company stated it will use the funding to launch payment programs in new markets, bringing more services to patients and more revenue to pharmacies.
