Medagate powers the OTCNetwork, a national closed loop over-the-counter (OTC) healthcare benefits payments platform. Medagate's technology platform supports several applications that enable retail and healthcare to intersect at the point of sale, enabling insured health plan members as well as Medicare and Medicaid members to access and spend monthly healthcare benefits in an easy and familiar manner. Medagate's solutions also enable health plan providers to reduce healthcare costs and attract and retain members by offering them unique incentives to improve their overall health and wellness. In February 2012, Medagate was acquired by InComm. The valuation of Medagate was undisclosed. Other terms of the deal were not released.
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Latest Medagate News
Jan 6, 2014
Pinterest × ATLANTA, Ga., Jan. 6, 2014 /PRNewswire/ -- InComm, a leading prepaid product and transaction services company, announced today that six health plans across Arizona and Texas will be providing over-the-counter (OTC) benefits through Medagate, InComm's healthcare platform. Participating health plans include University of Arizona Health Plans, Phoenix Health Plans and Valley Baptist Health Plans. Participating retail partners include CVS/pharmacy, Dollar General, Family Dollar, HEB, Rite Aid and Walgreens. Since 2012, Medagate has worked with more than 25 health plans serving more than 400,000 health plan members and provided eligible seniors with approximately $100 million in OTC benefits at the point of sale. (Logo: http://photos.prnewswire.com/prnh/20110525/CL09221LOGO ) "Our partnership with these leading Arizona and Texas health plans will create more convenient services for their members, but also allow retailers and health plans to collaborate on wellness initiatives," said David Vielehr, Vice President, InComm. "Over the last two years we have seen a dramatic expansion of the benefits we provide seniors. We look forward to bringing our network of retailers and health plans to Arizona and Texas. " Many Medicare Advantage plan members do not take advantage of OTC Medicare benefits because they must either pay out-of-pocket for OTC items and seek reimbursement, or order online via a catalog and wait up to a week to receive OTC items. Lack of immediate access to OTC benefits can lead to negative consequences such as unnecessary doctor and hospital visits or untreated conditions that later require urgent care. The OTCNetwork Card functions like a conventional prepaid card but restricts usage to the purchase of OTC Medicare eligible items for use in self care. About InComm InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. InComm supports more than 400,000 points of distribution and helps retailers build prepaid card destinations, connects brands with new markets and gives consumers a simple, secure shopping experience. InComm stays ahead of emerging trends by analyzing market needs and leveraging its global, innovative commerce platform, go-to-market expertise and extensive partner relationships. With 123 global patents, InComm is headquartered in Atlanta and has offices in North and South America, Europe and the Asia-Pacific region. For more information, visit www.incomm.com or follow us on Twitter at www.twitter.com/incomm . SOURCE InComm
Medagate Frequently Asked Questions (FAQ)
Where is Medagate's headquarters?
Medagate's headquarters is located at San Francisco.
What is Medagate's latest funding round?
Medagate's latest funding round is Acquired.
How much did Medagate raise?
Medagate raised a total of $340K.
Who are the investors of Medagate?
Investors of Medagate include InComm Payments.