PSG invested in DoseSpot, a SaaS platform for clinicians to transmit prescriptions to pharmacies. The investment will help DoseSpot expand its ability to support customers and build up its user base. PSG managing director Bill Skarinka; principal Chris Andrews; and Chris Collins, vice president, joined DoseSpot’s board, along with Brian Kelly, a senior adviser working with PSG.
DoseSpot, a software-as-a-service (SaaS) platform that enables clinicians to electronically write and transmit prescriptions to pharmacies, today announced that they have partnered with PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies. PSG’s investment will seek to accelerate DoseSpot’s ability to increase its support for existing and new customers, as well as enable a go-to-market strategy to expand its user base. Financial terms were not disclosed.
DoseSpot’s software platform streamlines the entire prescription process and improves the experience for both prescribers and patients. With a modern API and integration platform, the company seamlessly integrates with new and existing electronic health records, dental practice management systems, and digital health platforms. DoseSpot saves time and money for both prescribers and patients, reduces prescription errors, and improves patient outcomes.
DoseSpot ensures prescribers can offer real-time out-of-pocket cost information to patients before prescribing a medication by automating the electronic prior authorization process to gain approval from insurance providers. To further eliminate the administrative burden on providers, DoseSpot helps its customers comply with local, state, and federal regulations.
PSG’s investment in DoseSpot goes beyond capital in that it will provide resources and connections from its dedicated operations team to both promote growth at DoseSpot and continue to improve its service.
Andrew Needleman, Founder of DoseSpot, said, “With PSG’s support and experience scaling SaaS businesses, I’m confident DoseSpot is on track to advance our mission to help prescribers spend more time with their patients and less time writing prescriptions. I’m excited about collaborating with PSG’s team to better support our customers in a time of exceptional growth.”
As part of the investment, PSG’s Bill Skarinka, Managing Director; Chris Andrews, Principal; and Chris Collins, Vice President, have joined DoseSpot’s Board of Directors, along with Brian Kelly, a Senior Advisor working with PSG.
Skarinka added, “In our view, DoseSpot offers critical software to facilitate more efficient and effective connections between participants in the electronic prescription ecosystem, including prescribers, payors, pharmacists, and patients. We are excited to build on DoseSpot’s technology which has drawn and retained marquee customers in the rapidly-growing digital health field. We look forward to partnering with Andrew and the entire DoseSpot team with an aim to accelerate their expansion.”
DoseSpot is a Surescripts™ certified e-prescribing platform specifically designed to integrate with electronic health records, dental practice management systems, and digital health platforms. DoseSpot is certified to e-prescribe controlled substances and currently processes approximately one out of every 80 prescriptions in the United States. DoseSpot has provided e-prescribing solutions to the healthcare industry since 2009. For more information, please visit www.DoseSpot.com.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 95 companies and facilitated over 375 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London. To learn more about PSG, visit www.psgequity.com.