Supporting Improved Quality and Outcomes for Healthcare Division Clients
Supporting Improved Quality and Outcomes for Healthcare Division ClientsOrlando, Florida - March 15, 2024 — Hannover Life Reassurance Company of America and Hannover Life Reassurance Company of America (Bermuda) Ltd. (collectively, Hannover Re US) announced today, as part of its commitment to innovation, a first of its kind cooperation agreement with GalenusRx, Inc. (GalenusRx), providing its healthcare division clients an avenue to ensuring safe and appropriate medication regimens to help avoid preventable adverse drug events (ADEs), a leading cause of morbidity and mortality in the US, and a worldwide concern.
GalenusRx's medication safety technology gives patients and providers the knowledge they need to prevent adverse drug events and promote better health outcomes. APPRAISETM, GalenusRx's proprietary platform, analyzes drug-drug, multi-drug, drug-gene, and drug disease interactions to provide a unique and comprehensive risk assessment, individualized down to the DNA to identify risks, then translates results to clear levels of concern. GalenusRx's technology and consulting service, Lifesaving Insights™, provides a comprehensive understanding of how every patient's body responds to medication, with personalized assessments and tailored recommendations from Precision Clinical Pharmacists. Together, these solutions point the way toward efficacy and safety — with optimized medication regimens, reduced polypharmacy, and lowered medical expenses.
"We are delighted to partner with GalenusRx to offer its technology and services to our healthcare clients through their brokers and consultants. We believe that GalenusRx will help avoid the harmful effects of taking multiple drugs and reduce insured losses," said Julian Whitekus, VP, Health Solutions, Hannover Re US. "Through this partnership with GalenusRx, Hannover Re US will support its healthcare clients to improve quality and outcomes. Clients participating in accountable care and other value-based programs will also generate additional savings and will benefit from reduced total medical expenditures through GalenusRx method of avoiding predictable ADEs, thus improving their bottom line while providing better care for their policyholders."
"GalenusRx engages eligible members in a completely different way than they have experienced in the past regarding their medication safety, enhancing the customer journey. We are proud to start an expansive partnership with Hannover Re US that enhances the member experience while supporting healthcare organizations to meet their clinical, economic, and humanistic goals," said Peter Panageas, Chief Commercial Officer, GalenusRx. "Through this collaboration, we are demonstrating the unique value proposition of GalenusRx and supporting the provider-pharmacist collaboration in a novel way to improve outcomes."
Hannover Re is one of the world's leading reinsurers. It transacts all lines of property & casualty and life & health reinsurance and is present worldwide with more than 3,500 staff. German business of the Hannover Re Group is written by the subsidiary E+S Rück. Established in 1966, Hannover Re is recognized as a reliable partner for innovative risk solutions, exceptional customer intimacy and financial soundness. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior". For more information, please visit www.hannover-re.com.
Founded in 2023 by a team of internationally recognized healthcare leaders, GalenusRx is revolutionizing medication safety with precision. The company's proprietary platform, APPRAISETM, analyzes drug-drug, multi-drug, drug-gene, and drug-disease interactions to provide a unique and comprehensive risk assessment, individualized down to the DNA. Through the Lifesaving InsightsTM consulting service, Precision Clinical Pharmacists deliver tailored recommendations for safer, more effective drug regimens. Together, these solutions directly address polypharmacy and the potential for predictable adverse drug events a leading cause of death in the U.S. and around the world. GalenusRx is leading the way to better health outcomes and lower total medical costs.
GalenusRx offers its technology and services to a range of clients including consumers, providers, health and life insurers, and pharmaceutical companies. The GalenusRx team comprises a seasoned group of entrepreneurial leaders in pharmacy, technology, healthcare, and insurance. The co-founders, with decades of clinical, research, and business experience, are internationally recognized leaders in pharmacotherapy and have published more than 250 peer-reviewed studies in pharmacotherapy. For more information, visit www.galenusrx.com or contact info[at]galenusrx.com.
Hannover Re US
Holly Cannon
holly.cannon[at]hlramerica.com
Tel. +1 704 731-6355
GalenusRx, Inc.
Dr. Orsula V. Knowlton
Ovknowlton[at]galenusrx.com
Tel. +1 215 680-8983