Cuverd Brings Prescription Costs Savings Solutions to HUB Employer Clients
Cuverd takes the mystery out of getting the lowest out-of-pocket prescription costs for employees and their families struggling to start and stay on needed therapies.
NAPLES, Fla., May 4, 2023 (Newswire.com) - TranspareRx Corporation, a leading healthcare technology company that developed the next-generation prescription savings platform Cuverd, announced today its partnership with HUB International Limited (HUB), a leading global insurance brokerage and financial services firm, to bring needed relief to HUB health benefit clients and their employees by addressing prescription costs to help improve affordability, adherence and health outcomes.
"We are very excited to bring prescription savings plans to HUB benefits clients and share our passion in providing greater transparency to healthcare savings," stated David Harrell, CEO of TranspareRx. "Together we can really make an impact in helping millions of employees struggling to start and stay on their needed medications by making it easier to access all available savings."
Many studies show that high out-of-pocket costs reduce the likelihood that a patient will initiate treatment. Even amongst patients who fill an initial prescription, the high out-of-pocket costs increase the probability that they will delay, skip or stop treatment.
Through Cuverd's proprietary technology, the partnership aims to take the mystery out of medication savings by automatically navigating all options in real-time to deliver the lowest "out-of-pocket" price per medication.
Powered by a simple, user-friendly interface, the app and website automatically navigate all the complexities for each unique user to deliver the lowest "out-of-pocket" price per medication by factoring a multitude of variables in real-time, including medication coverage across 7,000 employers and health plans; estimated copays; eligibility for additional copay savings and other programs; and comparisons to "cash" prices from leading discount card partners. Cuverd also provides less expensive medication alternatives for patients to discuss with their healthcare provider(s).
"HUB recognizes as prescription costs continue to escalate, many employers are forced to pass more of the costs on to their employees via higher deductibles, additional premiums or increased copays," said Jeff Faber, Chief Strategy Officer at HUB. "We are pleased to offer Cuverd's innovative prescription savings app and website to our clients to help automate prescription coverage look up and available savings, as well as less expensive alternatives. We think this tool will really help our clients' employees start and stay on needed medication therapies to improve outcomes and productivity."
TranspareRx Corporation encompasses a team of proven industry leaders who all share a passion to deliver better price transparency and savings right into the hands of millions of Americans needing help in understanding their prescription costs and available savings on their rising out-of-pocket prescription costs and benefits. For more information, contact us at partnerships.cuverd.com
About HUB International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 16,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit HUB Media Center.
Source: TranspareRx Corp