Anthem and Humana have entered into a joint venture with hedge fund and private equity administrator SS&C Technologies Holdings to create a joint venture called DomaniRx.
The joint venture will develop a cloud-native, application programming interface-driven claims adjudication platform for pharmacy benefit managers, which are companies that manage prescription drug benefits on behalf of health insurers, Medicare Part D drug plans and large employers.
The platform will enable users to glean insights from millions of claims transactions, which will provide them with the information needed to customize programs and select flexible tools, he said.
SS&C Technologies, Humana and Anthem have committed approximately $925 million for the launch of the joint venture, according to a July 15 filing with the Securities and Exchange Commission. This figure includes $138.3 million in initial cash contributions and certain assets, including a non-exclusive license of SS&C Technologies’ claims processing platform known as RxNova.