For the past few years, the pharmaceutical industry has witnessed drastic transformations. It is due to the significant contributions of leaders who are poised to navigate changing the face of the pharmaceutical industry. One such leader we at Insights Success, came across is Greg Savino, the Co-Founder & Board Member of InfinityRx and Founder of Baybridge Pharmacy.
With his 15+ years of pharmacy experience, Greg spent six of those years building Baybridge Pharmacy 2015 – 2020. Developing a business model in a specific therapeutic class exposed him to the many challenges patients encounter after being prescribed medication. He expresses that patient adherence and compliance were part of the problem, while initiation of therapy carried its own challenges and is secondary to various factors; cost of medication, availability of medication, coverage limitations and restrictions, etc. Even after those obstacles are overcome, patients may experience side effects or need consultation throughout their medication journey, especially with more complex specialty medications. These areas of healthcare are being inadequately addressed, and the patients are the ones suffering.
Growing Baybridge from a team of two to what it is today was a task that required constant nurturing. Leading by example and being involved in every aspect of the business, from hiring, product acquisition, patient care, and even cleaning up at night, is integral in producing culture for success. Taking time to learn about each employee and discover their strengths and ambitions empowers them to develop new skills and occasionally enter areas of discomfort, often producing growth. Building a team of highly skilled operatives provided Greg the opportunity to continue business development, leading to exponential year-over-year increases in revenue and profit, all while ensuring the patient was at the forefront of his company’s efforts. With this growth came recognition. For two consecutive years, Baybridge landed a spot on the INC 5000 list, being the #46 fastest growing healthcare company in the country in 2019. Despite that, the pace at which Greg was growing professionally outweighed the ability of his own business to keep up. He had to transition the business into another owner’s hands in order for him to take the next steps at a greater objective with a broader reach.
Upon the sale of Baybridge Pharmacy in 2020 to a private equity firm, along with its branding and marketing arm, Sparta Rx Programs, Greg now had the time and opportunity to form a new company with a clear vision and broad reach. Thus, InfinityRx was founded in 2021 by him, acting as a Board Member and another industry leader, Yuriy Davydov.
Making Medication Affordable and Accessible
InfinityRx is a Patient Service Programs provider for pharmaceutical manufacturers with a mission to make medications more affordable and accessible for patients by simplifying the process for all parties involved in the dispensing of medication; including physicians, manufacturers, pharmacies, and patients. The company delivers progressive, efficient, and cost-effective patient service programs and advanced technology solutions to healthcare organizations that enable them to empower prescribers and drug service providers to furnish value-added services to their patients.
Greg asserts, “Creating an all-encompassing, end-to-end solution for the life cycle of medication was a priority for us at InfinityRx.” He explains further, “We begin our relationship with manufacturers during late-stage clinical trials to gain market access, which is essentially formulary coverage on various insurance plans. Simultaneously, we develop an affordability program (aka coupon program) for their medication, allowing patients to obtain the product at a lower cost. Next, we assist physician specialists with the triage of prescription orders through our white-glove service hub, a facility designed to increase speed to therapy and increase patient compliance/adherence.”
If desired by a manufacturer and appropriate for the patient circumstance, InfinityRx’s own non-commercial pharmacy, eScript360, can deliver medication nationwide at no cost to the patient. During the dispensing process at eScript360, patients can have full visibility into the status of their prescription through the company’s patient portal, available on the desktop or through its mobile application. With an interactive interface and appealing design, patients can track exactly at what stage in eScript360 their medication is. Despite the value these solutions have in and of themselves, the data collection and reporting process is extremely critical for pharmaceutical manufacturers, and InfinityRx always provides real-time access to information. Best of all, each Patient Service Program is unique and custom-designed for its clients.
A Take on Technology
It’s no secret that technology is the way ahead. InfinityRx dove deep into software development, creating something new, its own proprietary claims processing system that is far more advanced and user intuitive vs the competition. “Giving our clients (pharmaceutical manufacturers) the ability to make changes to their affordability programs on the front end/user side was a great accomplishment and a step ahead of industry standards.” Compared to other vendors, InfinityRx’s system can make changes in real-time, taking only minutes to accomplish, where it would take another vendor weeks, if not months. Giving its customers this type of access and control puts them in the driver seat of their own affordability program, a naïve and empowering position for them. Additionally, InfinityRx provides remittance and reimbursement solutions for all sites of care.
An Elite Team
Greg believes that InfinityRx’s vision can not become a reality without the outstanding people behind the mission. Its team of disruptors and innovators is led by its CEO, Nicholas Opalich, a 30+ year industry veteran and no stranger to success. Nick has built multi-million and multi-hundred-million dollar companies, including an infusion pharmacy, specialty pharmacy, mail-order pharmacy, and pharmacy benefit manager. His experience and expertise are second to none. Abbey Chakalis is InfinityRx’s CIO and she brings a wealth of diversity to the team. She is also an active member of NCPDP and NASP, where she continues to address the importance of affordable healthcare services. InfinityRx’s Co-founder and Chairman of the Board, Yuriy Davydov, founded DermSource, dermatology’s first online group purchasing organization (GPO), now with over 800 independent pharmacy members. Greg and Yuriy also operate as business development partners in a private equity firm’s national specialty pharmacy chain. Its third member of the board is Arthur Gukasyan, a Nurse Practitioner by profession and an experienced business growth expert. Arthur also co-founded a non-profit organization that enables underprivileged high school students to obtain a college degree.
Being Vendor of Choice
InfinityRx has gained a number of pharmaceutical manufacturer clients and has been the topic of many discussions in the short time since its formation. Greg says, “As we continue to progress our technology and perfect our services, InfinityRx will be the vendor of choice across the spectrum. Ensuring that we create the right solutions, it’s important to discuss the problems, something that many in the industry brush under the rug.” InfinityRx is not here to comply; it’s here to defy and do so in a way that promotes patient access to medications and therapy, driven by technology and ease across the continuum of care.
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