Austin health-tech startup hits 11x growth in 2023
AUSTIN, Texas, Jan. 8, 2024 /PRNewswire/ — RazorMetrics, a healthcare technology company focused on lowering drug costs that started a short 5 years ago, has shown exponential growth. From 2021 to 2022, the company grew 2x; from 2022 to 2023, RazorMetrics grew 11x. The rapid growth is a reflection of how important saving money on drug costs is around the country for employers, employees, health plans, and their members.
“Scaling rapidly can be a major challenge for start-ups. I am proud to say that our team performed admirably,” said Tom Dorsett, CEO and Founder of RazorMetrics. “We added new support staff and found very talented individuals to join our executive team. We are set up for a significant year of continued growth in 2024.”
Coming aboard the executive team is Bryan Menell, the new Chief Product Officer. Bryan’s 25+ years of experience scaling up small and large companies is exactly what RazorMetrics needs at this time. “I love working with a company on the verge of explosive growth. RazorMetrics approach to lowering drug spend for self-insured employers and health plans is hitting the market at the perfect time and we are ready for it.”
RazorMetrics’ platform helps companies cut drug spend instead of headcount as budgets continue to tighten. In 2024, RazorMetrics will have partnerships with some of the country’s largest PBMs, health technology vendors, health plans, and brokers around the U.S. and its territories.
RazorMetrics is a healthcare technology company whose SaaS-based platform uses AI to lower drug spend for health plans, self-insured employers, and organizations. RazorMetrics’ unique, physician-driven approach process is simple and requires no extra clicks in the EHR and no external programs or apps to access. Switches are straightforward and easy to make, and the entire process stays within the normal clinical workflow. The platform is complementary to existing pharmacy initiatives and works with PBMs and other drug cost savings solutions to optimize results. RazorMetrics is fully scalable and customizable to each client’s unique variables and formularies. For more information, visit www.razormetrics.com.
Casey DeMoss, RazorMetrics
Originally published at https://www.prnewswire.com/news-releases/razormetrics-experiences-exponential-growth-302028716.html
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