PSG-Backed DoseSpot and pVerify Join Forces to Expand API-Driven Capabilities and Help Improve Patient Access to Healthcare
DEDHAM, Mass. - DoseSpot, a software-as-a-service (SaaS) platform that enables clinicians to write and transmit prescriptions to pharmacies electronically, announced today it has acquired pVerify, a solution that streamlines the front-end patient eligibility verification process, helps patients get necessary care and aims to reduce overall healthcare costs.
This partnership furthers DoseSpot’s commitment to innovation, following its acquisition of ePrescribing platform TreatRx in March 2023 and a strategic investment in January 2022 led by PSG, a leading growth equity firm partnering with software and technology-enabled services companies. Following the close of the transaction, both DoseSpot and pVerify will continue to operate independently and will work together to identify natural points of cross-collaboration and integration.
“Joining forces with pVerify is an important milestone in DoseSpot’s journey,” said Josh Weiner, CEO of DoseSpot. “As we continue to innovate on behalf of better patient outcomes, pVerify solves for the difficulty of determining insurance coverage for patients at the point of care with an API-driven platform that helps providers deliver the care they need more quickly. In combining DoseSpot with pVerify, we believe we are providing modern solutions to some of the more complex workflow problems in healthcare.”
“With the backing of PSG, we are excited to bring growth capital to support pVerify and expand our combined ability to better serve clients across both businesses,” said Jay Nitturkar, CEO of pVerify. “I look forward to joining forces and working closely together to execute on this shared vision.”
“DoseSpot continues to expand its capabilities and fulfill its mission of powering safer, more efficient, and more flexible care delivery,” added Bill Skarinka, Managing Director at PSG. “We look forward to supporting the integration of these platforms and are excited about the opportunity to advance DoseSpot’s market position and deliver a comprehensive solution to patients.”
Ernst & Young served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to PSG and DoseSpot. Allied Advisers served as financial advisor and Stradling Yocca Carlson & Rauth served as legal counsel to pVerify.
DoseSpot provides ePrescription software enabling clinicians to write and transmit prescriptions to pharmacies electronically. The solution is Surescripts certified and eases the administrative burden of the prescription life cycle by integrating with EMRs/EHRs and other practice management software. Clinicians can prescribe medication without leaving their core workflows and remain compliant with state-specific and federal regulations for prescribing medication and controlled substances. Founded in 2009 and based in Dedham, MA, DoseSpot serves more than 300 healthcare clients – reaching over 200,000 healthcare professionals – from digital/telehealth providers and hospice pharmacies to dental services organizations and EMR/EHR and practice management software companies. For more information about DoseSpot’s ePrescribing solutions and services, visit www.dosespot.com.
pVerify, Inc's HIPAA-compliant, SOC2 Compliant, SaaS offering includes a fully customizable Eligibility Portal and robust set of REST APIs that power mission-critical, patient-facing processes, including real-time eligibility, insurance discovery and prior authorization for leading software companies in the healthcare sector. pVerify® was founded in 2006 by a team of accomplished Healthcare Professionals with a singular focus: streamline the front-end patient insurance eligibility and benefit verification processes to maximize practice revenue and minimize insurance denials. For more information about pVerify, visit www.pverify.com.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 120 companies and facilitated over 450 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com