Joe Cardosi, Founder & CEO
Free Market Health is a healthcare technology company dedicated to improving the specialty pharmacy ecosystem with a care-driven marketplace platform.
"Free Market Health was founded with a mission to never let the process fail the patient, and our results to date coupled with this latest investment are validation that we are making a real difference."
Joe Cardosi
Founder & CEO
Their story
Specialty drug distribution is complex, with an exclusive supply chain and stakeholders operating under different, often conflicting incentives. As more patients rely on specialty medications and costs continue to rise, the need for a more efficient and transparent system has never been greater. Per member per year specialty drug costs are projected to increase nearly 50% from 2022 to 2025 (1). With drug pricing under growing regulatory and consumer scrutiny, the specialty drug management landscape is evolving rapidly.
Free Market Health is addressing this challenge by introducing process improvements that create value for payers and specialty pharmacies.
Their enterprise software provides full visibility and management of specialty drug referrals, from prior authorization to script fulfillment. Its platform enables network pharmacies to bid on referrals they are best equipped to handle, giving them access to new volume while optimizing margins. At the same time, health plans benefit from cost savings on every new referral, creating a more efficient and transparent specialty drug ecosystem.
Source: (1) Pharmaceutical Strategies Group’s 2023 State of Specialty Spend and Trend Report
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Our partnership
We have had a long-standing thesis about the specialty pharmacy market and the need to address access and high costs of these therapies. When we met Free Market Health, we quickly recognized the strength of its platform in addressing inefficiencies in specialty drug distribution. Through our proactive diligence and extensive experience in the specialty pharma space, we saw a compelling opportunity to support Free Market Heatlh’s efforts to drive greater transparency and value across the ecosystem.
Joe and his team bring deep industry expertise, with the majority of the C-suite holding advanced pharmacy degrees, further reinforcing the company’s credibility. Their ability to bridge the needs of payers, pharmacies, and other key stakeholders made Free Market Health a strong fit for our investment approach. Since investing, we have worked closely with the team to support its continued organic growth and evolution as a trusted partner in the specialty pharma ecosystem.
The team involved
"Specialty pharma is at a tipping point, with payers seeking more control over their programs. Free Market Health offers a proven platform that drives value through price transparency, access, and individualized care. We’re excited to partner with this experienced team and their solution, which benefits the entire specialty pharmacy ecosystem."
Ryan Drant, Founder & Managing Partner
Questa Capital
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