SOURCE: Oration

January 07, 2016 09:00 ET

Oration Announces New Advisory Board to Advocate Change in the Way Prescription Drugs Are Purchased in the U.S.

Leaders From Technology, Healthcare and Finance Help Guide Oration Strategy to Make Quality Healthcare More Accessible

FOSTER CITY, CA--(Marketwired - Jan 7, 2016) - Oration, the technology pioneer making it fast and easy to purchase prescription drugs at the lowest price, today announced its Board of Advisors, including top healthcare and technology leaders such as Senator Bob Kerrey, former Department of Health and Human Services Assistant Secretary for Health Dr. John Agwunobi and IEX stock market founder and Flash Boys: A Wall Street Revolt protagonist Brad Katsuyama.

The advisory board members will help shape the company's direction and strategy as it continues to improve access to medication, and level the information playing field in pharmaceutical drug pricing.

"The present system of pricing and distributing pharmaceuticals in the U.S. market has been criticized in many quarters," said Tom Glocer, former CEO of Reuters and Thomson Reuters. "Oration provides visibility into drug pricing disparities and gives patients the ability to take back control of their purchasing power from pharmacy benefit managers (PBMs) in real-time."

Oration is one of the only companies in Silicon Valley qualified as a public benefit corporation, delivering solutions for the greater good. OrationRx, the company's flagship product, is a prescription management platform available to large businesses that allows users to review and manage prescription options from any device. The solution enables users to compare medication costs between pharmacies, choose pharmacies based on location and cost, and order prescriptions on the spot, saving both patients and employees potentially thousands of dollars annually.

"When companies make benefits decisions, cost is always a factor, but more importantly, it's about the value and flexibility they can bring to employees," said Ashley Goldsmith, Chief Human Resources Officer for Workday. "With Oration, it was a relatively easy decision for Workday. We will be able to offer our employees ease of use, cost savings on prescription drugs, and a technology-based solution that makes the whole pharmacy experience easier to manage."

"There is a movement in the larger healthcare marketplace toward consumerism," said Dr. John Agwunobi, one of the foremost thought leaders in modern healthcare. "That movement is empowering individuals with knowledge, with simple ways to act, and in some cases, incentivizing them to act. Oration, at its very core, is providing tools to individuals that allow them to not only choose where they get their care, but what price they pay."

The combined experience of Oration's board members includes leading Fortune 500 companies, political districts and major international organizations with expertise that span healthcare and technology.

Advisory Board members include:

  • Dr. John Agwunobi, Former Assistant Secretary for HHS, Former President of Walmart Health and Wellness
  • Jay Allen, Former Chief Human Resources Officer, Chief Administrative Officer, Charles Schwab
  • Tom Glocer, Former Chief Executive Officer, Thomson-Reuters
  • Ashley Goldsmith, Chief Human Resources Officer, Workday
  • Patrick Heim, Head of Trust & Security, Dropbox
  • Brad Katsuyama, Founder & President, IEX Trading
  • Bob Kueppers, Former Deputy CEO Regulatory and Compliance, Deloitte LLP
  • Senator Bob Kerrey, Former Governor of Nebraska, Pharmacist
  • Professor John Quelch, CBE, Harvard Business School, Harvard School of Public Health

"We are grateful to have such visionary and well-respected leaders as our greatest supporters and advisors," said Pramod John, CEO of Oration. "As a public benefit corporation, we are committed to reducing the cost of healthcare in America, and our advisory board will help accelerate this important journey."

About Oration
Founded in 2012, with headquarters in Foster City, California, Oration is a public benefit corporation (PBC) working to positively impact societal health by making quality healthcare more accessible to American workers. Its first product, OrationRx, is a prescription management application that brings one-click simplicity to shopping for and buying prescriptions. OrationRx helps employers and their employees choose where to get the lowest cost medications and manage their prescriptions in real-time. As a public service, Oration will analyze claims data for any self-insured employer for free. Go to www.oration.com for more information.