Opioid Clinical Management, Inc.

 

Watch Our Video

Industry

Technology

Company Type

Analytics

Location

US

Size

$2.1 million

Investment Type

Equity

For important risk and disclaimer information, Click Here.

Helping Great Companies Grow

Overview

In the U.S., 130 people die each day from an opioid overdose. That’s 130 family members, 130 friends, 130 neighbors, 130 coworkers. Each and every day. The loss of 47,000 lives each year is staggering and that toll is likely to rise.


The loss of human life is heartbreaking, though that’s just part of the impact. Opioid abuse costs employers $10 billion dollars in missed workdays alone.  Employees on long-term narcotics are 3X more likely to be out sick or late, 5X more likely to file a workers’ comp claim, 4X more likely to have an accident on the job, and 2X more likely to change jobs.


Opioid Clinical Management (OPCM) has discovered a way to stop the struggle before a user’s opioid battle becomes overwhelming.

  • Developed the first prevention-based solution that can identify unnecessary medical costs due to opioid prescriptions inside of large employer health plans

  • Patent pending solution spiders through paid pharmaceutical prescription claims, identifying unnecessary medical conditions linked to opioid withdrawal (30%)

  • Solution can identify and save 75% of these unnecessary costs without ever contacting the patient

  • There are estimated 150 million members of employer health plans creating a $6 billion untapped revenue opportunity with 80%+ gross margins

  • Seasoned management team and board of directors headed by an Ernst and Young Entrepreneur Hall of Fame member.

Helping Great Companies Grow

Opportunity

A study of 9,342 patients with opioid prescriptions found significantly higher annual healthcare costs:

  • Costs begin accumulating 5-months before any formal behavioral health diagnosis

  • Leading to $14,810 in per-patient incremental annual health care costs

Difference: withdrawal vs. addiction

  • withdrawal – physical and mental effect of not having an opioid: Physiologic (illness)

  • addiction – pursuit of opioids with total disregard to consequences: Pathologic (actions)

Discovery:

  • people do not abuse opioids for a euphoric effect

  • people continue opioid dependence to control the painful effect of withdrawal symptoms

Result: health plan impact

  • low incidence of addiction (pathological) and Low cost of opioid Rx

  • high incidence of withdrawal (physiological) in 30% of patients in our studies

Helping Great Companies Grow

Strategy/Solution

Opioid Clinical Management (OPCM) has discovered a way to stop the struggle before a user’s opioid battle becomes overwhelming.


Our solution uses analytics to examine clinical indicators and pharmaceutical claims paid by an employer’s health plan to identify patients who may have an unnecessary cost or struggle with their opioid prescription.


We also identify the physician who wrote the prescription. OPCM pharmacists reach out to providers, encouraging compliance with CDC guidelines and alerting them to the employer’s use of our monitoring analytics.  Helping to avoid unnecessary prescription costs.


OPCM’s numbers speak for themselves. Our first client saw a 64% reduction in unnecessary opioid prescriptions in just six months, reducing the per user cost by $7,000 and saving more than $1.3 million dollars.


This early intervention doesn’t just save money. It saves family members, friends, neighbors and coworkers. Saving money, saving lives.

 

Helping Great Companies Grow

Management

Mike Vasquez

CEO

Since 1986 has been the founder of industry changing healthcare technology companies in the United States.  Including PACE Health Management (IPO, sold to 3M), CareMedic Systems (sold to United Healthcare), Harbor View Medical (sold to Regenexx), and St. Gregory Retreat Centers (sold to Summit BHC).


Holds an Executive Health Management Certificate from the Harvard School of Public Health.


Named Entrepreneur of the Year by Ernst & Young and was inducted into the E&Y Entrepreneur of the Year Hall of Fame.

Joseph Teeling

COO

Started his career in sales, honing his expertise and serving in a variety of executive leadership roles.


Chairman/CEO of Bearance Management Group, growing the company to a top 200 insurance broker.


Spent more than two decades with Marsh & McLennon Companies and served as President of Marsh Advantage America.

Brian Thompson

CFO

Has more than 26 years of executive leadership, financial, operational and merger and acquisition experience.


Previously served as CFO of Advanced Analytical Technologies, SVP of Equity Dynamics, CFO/CAO for Kum & Go and President/CFO of Astracon, Inc., as well as a Partner/CFO of Edgewater Funds.

Helping Great Companies Grow
Learn More About This Transaction

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

Sending

Log in with your credentials

Forgot your details?