OptimizeRx Delivers AI-Guided Privacy-Compliant Platform for Pharmaceutical Brand Marketing Amid Evolving Consumer Privacy Legislation
WALTHAM, Mass., July 23, 2024 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the "Company") (NASDAQ:OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today announced its continued commitment to partnering with pharmaceutical brands to navigate the rapidly changing landscape of state-level consumer privacy legislation while executing comprehensive marketing programs nationwide. This month Florida, Oregon, and Texas, representing just over 16% of the nation's population, joined California, Colorado, Connecticut, Delaware, Maine, Michigan, Minnesota, Nevada, New York, Utah, Vermont, Virginia and Washington with existing consumer privacy laws. Today, nearly 50% of the US population is covered by some variation of a state-level consumer data protection regulation in addition to national HIPAA laws. That number will grow to 62% in the coming 18 months as privacy laws go into effect in Indiana, Iowa, Kentucky, Maryland, Montana, Nebraska, New Hampshire, New Jersey, and Tennessee. This increase in privacy regulations, that are not analogous state-by-state, will make it more difficult for healthcare marketers to deploy consistent engagement campaigns at scale.
As the pharmaceutical industry faces an evolving consumer regulatory environment including new state laws to safeguard consumer privacy, some with strict provisions against the use of health data in advertising, healthcare advertisers must adapt their marketing strategies to comply with each state's specific regulations. The changing landscape and state-by-state approach makes it particularly difficult for organizations to manage compliance with healthcare marketing in the US, and to create a geographically-unified engagement approach. OptimizeRx is leading the response to this transformation, offering unparalleled expertise, patented technology, and innovative solutions that enable pharmaceutical brands to reach their target audiences effectively and in compliance with privacy regulations. OptimizeRx partners with pharmaceutical brands to align direct-to-consumer (DTC) and healthcare provider (HCP) marketing strategies enabling privacy compliant nationwide campaigns.
"We understand the complexities and challenges that come with the changing consumer privacy legislation for pharmaceutical marketers, and we deliver innovative solutions that address those challenges," said Steve Silvestro, President of OptimizeRx. "We partner with life sciences brands to help them to maintain the scale and effectiveness of their marketing campaigns while adhering to stringent and rapidly evolving regulations. OptimizeRx's solutions ensure the compliant execution of pharmaceutical marketing programs."
Leveraging its patented Micro-Neighborhood® Targeting (MNT) technology, OptimizeRx delivers marketing campaigns for life sciences brands looking to reach and engage consumers while maintaining compliance within the evolving U.S. data privacy law landscape. This enables brands to:
- Maintain Campaign Scale: As more states adopt privacy regulations, OptimizeRx ensures that marketing campaigns remain scalable and effective across different regions.
- Reach Hard-to-Target Patient Populations: Hyper-local targeting capabilities, based on clinical signals, allow OptimizeRx to reach patient populations that are becoming increasingly difficult to target due to new regulations.
- Utilize Privacy-Safe Data Handling: OptimizeRx utilizes innovative, privacy-safe methods to handle health data, ensuring compliance with state-specific privacy laws.
- Align DTC and HCP Marketing Strategies: With new laws aimed at safeguarding personal information, a synchronized approach to how companies interact with consumers and HCPs is becoming more important to ensure compliant marketing strategies.
The OptimizeRx Dynamic Audience Activation Platform (DAAP) has solutions designed to address the unique needs of the pharmaceutical industry, including privacy-by-design MNT techniques and tailored predictive marketing strategies. The Company's comprehensive engagement approach and alignment of HCP and DTC audiences ensures that healthcare advertisers can navigate the complexities of state-level privacy legislation without compromising the effectiveness of their campaigns.
About OptimizeRx
OptimizeRx provides trailblazing technology that fosters care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the healthcare journey. With the ability to synchronize messaging across 2 million healthcare providers and over 240 million adults across a multitude of digital channels including a proprietary point-of-care network, OptimizeRx is changing the way life sciences engages with customers.
For more information, follow the Company on Twitter, LinkedIn or visit www.optimizerx.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates", "believes", "estimates", "expects", "forecasts", "intends", "plans", "projects", "targets", "designed", "could", "may", "should", "will" or other similar words and expressions are intended to identify these forward-looking statements. All statements that reflect the Company's expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company's growth, business plans, and future performance. These forward-looking statements are based on the Company's current expectations and assumptions regarding the Company's business, the economy, and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other risks summarized in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, its subsequent Quarterly Reports on Form 10-Q, and its other filings with the Securities and Exchange Commission.
OptimizeRx Contact:
Andy D'Silva, SVP Corporate Finance
[email protected]
Investor Relations Contact
Ashley Robinson
LifeSci Advisors, LLC
[email protected]
