West Deptford, NY (PRWEB) July 30, 2014
Enclara Health, LLC (“Enclara”), a leading hospice pharmacy services provider, continues to grow its national footprint with 51 new clients, comprising more than 10,000 patients (ADC) added thus far in 2014.
Enclara recently announced its partnership with Consonance Capital Partners, the private equity arm of Consonance Capital, a leading healthcare-focused investment firm, to replace the company’s “angel” investors and recapitalize the company. This partnership provides the financial backing to support Enclara’s growth, both internal and external through acquisitions, as Enclara secures its position as a leading provider in the hospice pharmacy market, both in the mail order and local PBM market space.
Andrew Horowitz, Founder and CEO of Enclara stated, “We continue our focus on assisting our partners through reimbursement challenges and the changing regulatory environment. We feel it is our responsibility to provide our clients with the tools necessary to determine the appropriate, and cost effective, medication options to care for their patients.”
Leading Enclara’s strategic efforts is Eric Hersh, who previously served as a hospice owner and operator. Mr. Hersh recently transitioned from Enclara’s CFO role to a newly created position of Executive Vice President of Strategy and Analytics, in anticipation of the multitude of regulatory and financing changes currently facing the hospice provider community.
“Enclara has developed supportive tools to help its customer base deal with the financial, clinical, and prior authorization process. Even with the recent announcement by CMS to relax its March 2014 guidance with respect to the prior authorization (PA) requirements for hospice enrollees with Medicare Part D prescription drug coverage, we believe that hospices will still be required to cover those medications that are truly related to a patient’s overall prognosis. Our customers will continue to need our guidance as their pharmacy partner and we need to be diligent to review utilization patterns, protect best practices and be fiscally responsible,” stated Hersh.
Enclara’s robust growth through the first half of 2014 is largely attributable to an increase in utilization of Enclara’s Neighborhood Connection™ local pharmacy PBM model. Enclara’s PBM technology platform contains many of the comprehensive pharmacy tools that Enclara’s mail order customers have grown accustomed to. The tools and reports allow customers to review utilization patterns and assist with budgeting needs throughout the month. Hard stops can be initiated to guide clinical practices to appropriate disease management, while allowing hospice providers the flexibility to better manage and monitor outlier spending patterns.
“We now support over 30,000 patients in 46 states. Our account managers focus on the relationship goals and identify those outliers in a timely manner so our customers feel that we are paying appropriate attention to their business needs,” commented Betsy Rothley, Enclara’s Chief Development Officer, overseeing both Sales and Customer Relations.
Enclara has long focused on developing tools that provide operational efficiencies to their staff as well as customers. “We operate our business with a very reactionary approach to customer needs, as well as a proactive planning process to size our business appropriately so our growth is controlled and seamless,” stated Horowitz. “We appreciate the confidence placed in us by our hospice clients and recognize the wonderful commitment from our associates in supporting our hospices and their patients.”
About Enclara Health
Enclara is a national full service mail order and PBM supplier of medications and clinical services developed specifically for the hospice and palliative care industry. Enclara services some of the largest hospice providers in the country, helping to reduce pharmacy costs through a clinically driven model that enables home delivery of pharmaceuticals, as well as access to a network of over 65,000 retail and institutional pharmacies. For more information, visit http://www.enclarahealth.com.
About Consonance Capital
Consonance Capital is a healthcare investment firm that invests broadly across the healthcare landscape. Private investments, which include growth equity, leveraged buyouts, and recapitalizations, are made under the direction of Consonance Capital Partners, a private equity manager led by Mitchell Blutt, MD, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle. Public investments are made under the direction of Consonance Capital Management, a long/short public equity manager. Consonance Capital was established in 2005 and is located in New York City.