Lyfegen

Lyfegen is a healthtech SaaS company based in Basel, Switzerland, that has developed a platform to facilitate value-based healthcare pricing for drugs, therapies, and medical devices. Founded in 2018, Lyfegen's software enables health insurers, pharmaceutical companies, medical technology firms, and hospitals to implement and manage value-based pricing agreements more efficiently and transparently. The company's patent-pending platform utilizes intelligent algorithms to collect and analyze patient-level drug cost data, allowing for the execution of complex pay-for-performance contracts.

Lyfegen's technology aims to address the growing challenges in healthcare reimbursement, particularly for high-cost and personalized treatments. The platform can handle various pricing models, including those for on and off-label drug usage, helping to ensure accessibility to patients at sustainable prices while allowing insurers to identify and claim rebates more effectively. As of November 2022, Lyfegen's software was being used to manage 141 drug price models with 32 manufacturers for one of its insurance partners in Switzerland.

The company's solution is designed to support the transition from volume-based and fee-for-service healthcare to a value-based approach, where pricing is linked to treatment outcomes. This shift is particularly relevant for new, expensive therapies like gene treatments that can cost millions of dollars per patient. Lyfegen's platform aims to make these treatments more accessible by enabling new payment models that consider factors such as quality of life improvements and reduced hospital admissions.

Key customers and partnerships

Lyfegen has secured partnerships with several significant players in the healthcare industry. Lyfegen has implemented over 400 value-based contracts for around 15 payers in countries including Portugal, Spain, Saudi Arabia, and Canada. Eight out of the top ten largest pharmaceutical companies were paying an annual fee to access the Lyfegen platform.

In Switzerland, EGK-Gesundheitskasse, a health insurer, partnered with Lyfegen in November 2022 to execute their value-based pricing contracts for high-cost drugs. Johnson & Johnson Switzerland and a leading Swiss hospital implemented the Lyfegen platform in 2021. Additionally, Sympany, another Swiss health insurance company, began utilizing the platform for executing and managing value and data-driven pricing models. These partnerships demonstrate Lyfegen's growing presence in its home market and its potential for expansion into other regions, including the US, which the company has identified as a key target market for future growth.