BROOKLYN, N.Y., May 18, 2022 /PRNewswire/ -- In a powerful alignment of two companies focused on healthcare affordability, New Zealand's HealthNow has acquired digital prescription discount platform CoverUS. The combined company will launch the CoverUS Payments app in Q3 2022, helping Americans pay for needed health care, and creating a mobile-first marketplace of health providers and merchants.
The forthcoming payment app will let Americans spread out payments for health care services and products for up to 12 weeks – enabling them to visit the doctor, fill prescriptions, and access other health services. The app also helps consumers discover participating medical providers, increasing their utilization and patient flow.
"Nearly one-third of U.S. adults skipped needed medical care in 2021 due to cost1, which threatens lives and costs the economy billions," said Steven Zinsli, CEO of HealthNow US, Inc. "Our payment app has helped so many New Zealanders afford care, and we now lead the market there. Combined with CoverUS' prescription discount and patient data platform, we'll help Americans to get the care they need when they need it. Money should not be a barrier to being healthy in today's world."
The CoverUS acquisition will power HealthNow's entry to the US market, leveraging CoverUS's existing pharmacy network, healthcare consumer engagement tools, and patient data platform to reach industry customers as quickly as possible. Operating in the U.S. under the CoverUS name, HealthNow US, Inc. will launch the CoverUS Payments app first in California, Oregon, and Washington, before expanding nationwide.
The new venture is already recruiting providers to offer the payment solution to their patients. "CoverUS Payments is a win for healthcare providers who want to help as many patients as possible. American consumers have never before had access to healthcare payment assistance like this: simple, flexible, and free," said Andy Laken, a CoverUS co-founder who is joining the new venture as Chief Product Officer. "Combining HealthNow's payments platform with the CoverUS discount and data platform, we'll help remove patient cost barriers to care, improving population health and delivering economic value to the entire healthcare system. Teaming up with HealthNow helps to fulfill the founding vision of CoverUS - that everyone can afford the care they need."
CoverUS will continue to offer its signature prescription discount program at coverus.health. Medical providers can sign up here to request early access to the CoverUS Payments marketplace for launch in Q3 2022.
Founded in New Zealand, HealthNow offers a unique payment solution that lets health consumers spread out their health care payments for up to twelve weeks, with no fees or interest. Consumers can also put money aside in their Health Wallet, and with Employer Aid, participating employers can fund employee wallets as a benefit. Health care providers and merchants love HealthNow's ease of integration, its simple fee structure, and how it helps them increase patient flow and improve service utilization. For these reasons, in just one year HealthNow has become the health care payments market leader in New Zealand. HealthNow US, Inc. operates in the U.S. under the CoverUS name.
CoverUS is dedicated to making healthcare affordable for all Americans. Founded in Brooklyn in 2018, CoverUS provides a free, patient-focused prescription discount program available at over 67,000 pharmacies nationwide and offering up to 87% off their required medications.
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SOURCE HealthNow US, dba CoverUS