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Prescription Advisory Systems & Technology has raised $350K across 1 funding round.
Key people at Prescription Advisory Systems & Technology.
Prescription Advisory Systems & Technology has raised $350K in total across 1 funding round.
Prescription Advisory Systems & Technology (P.A.S.T.) offers PastRx, software for automated Prescription Monitoring Program (PMP) report analysis. It integrates patient prescription histories, allowing providers to identify potential risks and adverse drug events. PastRx supports informed prescribing, enhancing patient safety and compliance through data aggregation and intuitive risk visualization.
Co-founded by a physician who developed protocols against the prescription drug epidemic and an experienced software CEO, their partnership addressed the urgent need for accessible technological solutions. This collaboration translated medical guidelines into an intuitive platform, empowering professionals to apply essential risk management protocols.
PastRx serves healthcare professionals, including physicians, prescribers, and pharmacists, for improved oversight. P.A.S.T.'s vision centers on mitigating the prescription drug crisis through enhanced data transparency and automated risk assessment. Providing immediate insights into patient behaviors, the company fosters safer prescribing and public health.
Prescription Advisory Systems & Technology has raised $350K across 1 funding round. Most recently, it raised $350K Seed in December 2014.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2014 | $350K Seed | — | Union Atlantic Ventures | Announced |
Prescription Advisory Systems & Technology (PastRx) develops software that automates and simplifies Prescription Drug Monitoring Program (PDMP) reviews for healthcare providers. It serves physicians and prescribers handling controlled substances, solving the challenge of safely prescribing amid the U.S. prescription drug overdose epidemic by providing automated PDMP report access, intuitive risk alerts, and compliance analytics.[1][3][5][6] The platform integrates seamlessly with electronic health record (EHR) workflows, saving time, ensuring state law compliance, and improving clinical decisions, with the company based in Jenkintown, Pennsylvania, reporting under $5 million in revenue and fewer than 25 employees.[3][4]
PastRx addresses a critical need: overdose from prescription drugs is the leading cause of accidental death in the U.S., surpassing car accidents or gun deaths, affecting over 100 million with chronic pain.[5] By streamlining manual PDMP checks into automated, visual insights, it reduces clerical work and enhances patient safety and practice efficiency.[3][6]
Prescription Advisory Systems & Technology was founded by a physician who created protocols to combat the prescription drug epidemic and a software CEO who built the enabling technology. The idea emerged from the founders' recognition of the crisis—highlighted by CDC data on overdoses and LA Times reports of 52 million Americans misusing prescriptions—driving the need for tools that make risk protocols accessible to all practitioners.[5]
Early development focused on automating PDMP checks to provide prescribers, patients, and dispensers with clear risk visibility before patient encounters, marking a pivotal shift from manual processes to intuitive software.[5][6] The company has since gained traction in the drug stores, pharmacies, and hospital sectors, with funding under $5 million across one round, reflecting steady momentum in a high-stakes healthcare niche.[3]
PastRx rides the wave of digital health tools combating the opioid crisis, a trend amplified by state PDMP mandates and federal pushes for prescriber accountability amid rising overdose deaths. Timing aligns with EHR adoption and regulatory pressures, where manual PDMP checks burden providers; market forces like SaaS growth in healthcare (its classified industry) and demand for compliance tech favor scalable solutions like PastRx.[3][4][5][6]
It influences the ecosystem by setting standards for PDMP integration, aiding pharmacies, hospitals, and pain management practices in risk mitigation, while fostering data-driven opioid stewardship—potentially reducing nonmedical use affecting 1 in 7 Americans.[1][5]
PastRx is poised for expansion as PDMP mandates proliferate and AI-enhanced analytics evolve, potentially integrating predictive risk modeling or broader substance abuse tools. Trends like value-based care and telehealth will amplify demand for its time-saving compliance features, evolving its role from niche PDMP aid to comprehensive prescriber safety platform. With momentum in retail health and funding potential, it could scale influence in curbing the epidemic that inspired its birth.[3][5][6]
Key people at Prescription Advisory Systems & Technology.
Prescription Advisory Systems & Technology has raised $350K in total across 1 funding round.
Prescription Advisory Systems & Technology's investors include Union Atlantic Ventures.
