LifeMD Announces Major Enhancements to its Weight Management Program, Expanding Patient Access to Branded GLP-1 Therapies and Introducing New Treatment Options

Investments in pharmacy benefits infrastructure, in-home lab services and new treatment options expand platform capabilities and are estimated to increase LifeMD’s addressable weight loss market by 15%

NEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) — LifeMD, Inc.^® (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced significant enhancements to its weight management program, underscoring the company’s commitment to expanding patient access and improving the quality and comprehensiveness of care available on its virtual care platform. The investments include a new and improved platform and partnership for in-home lab collection, technology enhancements for prior authorization and pharmacy benefits infrastructure, and the launch of personalized prescription treatment options. These advancements further establish LifeMD as a leader in the rapidly growing market for virtual healthcare.

As part of its commitment to increasing access to branded prescription GLP-1 medications, LifeMD has developed and is launching a real-time electronic benefit verification program that allows patients to check pharmacy benefits verification before enrolling in a LifeMD virtual care program. Additionally, LifeMD has partnered with an AI-powered platform that optimizes prior authorization submissions and appeals to improve approval rates for patients. These enhancements are designed to minimize delays in care, reduce barriers to accessing brand-name medications, and ensure that a broader range of patients can benefit from LifeMD’s offerings.

“Our No. 1 objective for 2024 is to deliver on LifeMD’s commitment to build the most comprehensive and accessible virtual care offering for weight management in the United States,” said Justin Schreiber, Chairman and CEO of LifeMD. “Our latest investments in in-home lab services and our pharmacy benefits verification infrastructure – combined with our past and present investments in our medical benefits infrastructure, pharmacy, affiliated provider group, AI-enhanced workflows and technology – are highly differentiating for LifeMD and help us break down the barriers that prevent many Americans from accessing lifechanging healthcare.”

“Importantly, we are already benefitting from these investments with more than 38% of patients over the past 30 days who provided us with their insurance information receiving affordable coverage for a branded GLP-1 medication. We expect that this number will soon exceed 50% and will increase further in 2025 as private and government payors expand coverage of these therapies,” he added.

In addition, LifeMD has launched a personalized therapy for weight management, expanding its weight management program with an alternative to GLP-1 medications designed for patients who are unable or unwilling to use GLP-1 drugs. This treatment plan, consisting of three oral medications – metformin, bupropion, and topiramate – is available as a cost-effective monthly subscription and is expected to grow the program’s addressable market by approximately 15%, according to company estimates.

Another key advancement is the integration of at-home, self-collection laboratory testing services into LifeMD’s weight management offerings. Initially introduced as part of the new compounded treatment options, these services will soon be incorporated into the GLP-1 weight management program to increase the percentage of patients who qualify for treatment. LifeMD plans to use at-home collection testing across various clinical care scenarios, giving patients greater control over their health and making remote healthcare more inclusive.

“We’re building a robust, patient-centric platform that can adapt to a wide array of evolving health needs. By expanding our capabilities in anticipation of future healthcare demands, we are creating a telehealth ecosystem that provides patients with a seamless experience, helping to drive long-term outcomes,” said Dr. Anthony Puopolo, President of LifeMD Affiliated P.C.s.

For more information about LifeMD’s weight management programs, please visit https://lifemd.com/weight-management/.

About LifeMD, Inc.

LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women’s health, weight management, and hormone therapy. The Company leverages a vertically-integrated, proprietary digital care platform, a 50-state affiliated medical group, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.

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Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com

Media Contact
Jessica Friedeman, Chief Marketing Officer
press@lifemd.com