Harrow Partners with Asembia to Enhance Provider and Patient Experience Through Nationwide Digital Services and Hub Support for Harrow’s Branded Eyecare Products

Rhea-AI Summary

Harrow (HROW) has announced a nationwide launch of a digital patient access solution in partnership with Asembia, aiming to expand access to Harrow's ophthalmic branded products. The collaboration leverages ASPN Pharmacies, Asembia's non-dispensing pharmacy, to streamline prescription processes and improve medication accessibility and affordability. The service includes benefits verification, prior authorization, co-pay support, and patient assistance program eligibility. Healthcare providers can order through their EHR/EMR platforms or the ASPN provider portal, which allows multiple Harrow products to be ordered simultaneously.

Positive

• Partnership with Asembia expands access to Harrow's complete branded eyecare product portfolio
• Streamlined prescription process potentially leading to faster prescription fulfillment
• Implementation of automated refill process may improve patient compliance
• Enhanced affordability through co-pay support and patient assistance programs

Negative

• None.

Insights

Market Research Analyst

This strategic partnership with Asembia represents a significant operational advancement for Harrow's distribution capabilities. The collaboration introduces a streamlined digital prescription management system that could drive increased prescription volume and market penetration for Harrow's entire branded portfolio. The implementation of ASPN's technology platform addresses key friction points in the prescription process - from benefits verification to prior authorization and refill management.

The partnership's focus on improving affordability and accessibility could translate to higher prescription fill rates and better patient compliance, potentially leading to increased recurring revenue streams. The integration with electronic health record systems and simplified ordering process reduces barriers for healthcare providers, which historically has been shown to positively impact prescription rates in the specialty pharmaceutical sector.

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Harrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, today announced the nationwide launch of a new digital patient access solution in collaboration with Asembia, a leading provider of specialty pharmacy and patient support hub services. This multi-year exclusive partnership is designed to expand access to Harrow’s ophthalmic branded products, including FLAREX®, ILEVRO®, MAXIDEX®, MAXITROL®, NATACYN®, NEVANAC®, TOBRADEX® ST, VERKAZIA®, VEVYE®, VIGAMOX®, and ZERVIATE®, by simplifying the prescribing process for eyecare professionals and improving both accessibility and affordability for patients.

ASPN Pharmacies is Asembia’s non-dispensing pharmacy, specializing in patient support services. Utilizing leading-edge technology, ASPN collaborates with prescribers, patients, and payers to streamline the prescription process, ensuring rapid delivery through the patient’s preferred pharmacy and an exceptional patient experience.

Mark L. Baum, Chairman and Chief Executive Officer of Harrow, commented, “Our partnership with Asembia, leveraging ASPN, removes barriers to access and affordability for our branded eyecare products. By streamlining the entire patient journey – from prescription intake and benefits verification to prior authorization, co-pay support, and patient assistance program eligibility – we’re making it easier for patients to access critical eyecare medications. ASPN’s advanced support centers enable providers to seamlessly submit prescriptions through their EHR/EMR systems, while ASPN handles the rest, including automating the refill process. Going forward, patients should be able to start their prescription therapies faster, at the lowest possible out-of-pocket cost, while also managing their refill process, ultimately driving greater compliance and better health outcomes.”

Asembia Chief Executive Officer Lawrence Irene, added, “We are thrilled to provide Harrow’s market-leading ophthalmic formulary as our latest offering in the prescription ophthalmology category. From the outset, we recognized that Harrow’s innovative and high-quality products set the standard in eyecare. By partnering with Harrow, we’re able to enhance access to essential treatments, making them more accessible and affordable for patients, especially those who may have faced challenges through other channels. Our advanced patient and provider portal enhances this experience by providing complete transparency and support from prescription initiation to final delivery, empowering patients and providers every step of the way.”

How to Order Harrow Products Using ASPN

Healthcare providers can select ASPN Pharmacies directly from the dropdown menu in their EHR/EMR platforms or place orders directly through the ASPN provider portal. The ASPN provider portal enables physicians to order multiple Harrow branded products in a single order, simplifying the process.

About Harrow

Harrow, Inc. (Nasdaq: HROW) is a leading eyecare pharmaceutical company engaged in the discovery, development, and commercialization of innovative ophthalmic pharmaceutical products for the North American market. Harrow helps eyecare professionals preserve the gift of sight by making its portfolio of prescription and non-prescription pharmaceutical products accessible and affordable to millions of patients each year.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such “forward-looking statements.” Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include, among others, risks related to: liquidity or results of operations; our ability to successfully implement our business plan, develop and commercialize our products, product candidates and proprietary formulations in a timely manner or at all, identify and acquire additional products, manage our pharmacy operations, service our debt, obtain financing necessary to operate our business, recruit and retain qualified personnel, manage any growth we may experience and successfully realize the benefits of our previous acquisitions and any other acquisitions and collaborative arrangements we may pursue; competition from pharmaceutical companies, outsourcing facilities and pharmacies; general economic and business conditions, including inflation and supply chain challenges; regulatory and legal risks and uncertainties related to our pharmacy operations and the pharmacy and pharmaceutical business in general; physician interest in and market acceptance of our current and any future formulations and compounding pharmacies generally. These and additional risks and uncertainties are more fully described in Harrow’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. Such documents may be read free of charge on the SEC's web site at sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Harrow undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241107811777/en/

Investors

Jamie Webb

Director of Communications and Investor Relations

jwebb@harrowinc.com

615-733-4737

Media

Deb Holliday

Holliday Communications, Inc.

deb@hollidaycommunications.net

412-877-4519

 

Source: Harrow, Inc.

FAQ

What is Harrow's (HROW) new partnership with Asembia for?

Harrow's partnership with Asembia is for launching a nationwide digital patient access solution to simplify prescribing processes and improve accessibility and affordability of Harrow's branded eyecare products.

How can healthcare providers order Harrow (HROW) products through ASPN?

Healthcare providers can order Harrow products by selecting ASPN Pharmacies from their EHR/EMR platforms' dropdown menu or directly through the ASPN provider portal.

What services does the Harrow-Asembia partnership include for patients?

The partnership includes benefits verification, prior authorization, co-pay support, patient assistance program eligibility, and automated refill processes to improve medication access and affordability.