RxResults Unveils MemberChoice to Combat Rising Drug Costs for Employees and Their Health Plans
RxResults, a Little Rock based pharmacy risk management company, believes MemberChoice is a smart option for employers who want to help their health plan members save money and feel better, and also improve the company's bottom line.
Little Rock, AR, July 30, 2015 (Newswire.com) - Pharmacy costs are expected to rise by 16% between 2013 and 2016, and to continue to rise at that rate through the end of 2023. In addition, the rising cost of drugs has contributed to patients not taking their drugs as prescribed or not at all, resulting in $290B annually in healthcare costs. Employers must begin to implement risk management tools in order to control company health plan costs and lower costs for their employees (plan members). RxResults, a Little Rock based pharmacy risk management company, believes MemberChoice is a smart option for employers who want to help their health plan members save money and feel better, and also improve the company’s bottom line
“MemberChoice is being introduced to market at the right time. Employers and insurers are seeing unsustainable increases in pharmacy spending and some are left with no choice but to shift cost to employees who are company health plan members. MemberChoice puts members in charge by providing them with lower cost options to expensive brand medications based on unbiased, clinically sound recommendations from the University of Arkansas for Medical Sciences (UAMS) College of Pharmacy”, says Terry Baskin, President and CEO
- Prescription claims analysis by unbiased UAMS College of Pharmacy experts
- Targeting high cost drugs and providing lower cost alternatives that provide the same or better patient benefit
- Immediate savings for the employer (5-10% of total pharmacy spending) and the members
- Member friendly communication and incentives designed to motivate plan members
- Freedom for plan members to make the change and save through a completely voluntary program
- Frequent communications with members, their physicians and pharmacists to educate and inform, and a call center for one-on-one consultation
Baskin states that, “Employers are torn between managing the cost of providing health care benefits and being able to retain talent in the workforce. They are faced with getting members more engaged in spending medical cost dollars wisely. We have put an incentive program in place along with education to help keep your members engaged and making the right decisions about pharmacy spending.”
RxResults, started by Tery Baskin in 2009 has grown into a talented team of pharmacists, physicians and industry experts. RxResults continues to see ever-rising pharmacy costs putting unnecessary strain on employers. In an effort to reduce wasteful pharmacy spending, while providing access to medications proven safe and most effective to members, RxResults focuses on:
- A comprehensive suite of evidence-based products to help employers and employees manage their pharmacy costs
- Easy to understand, customized reporting for help employers make better decision when planning benefits
- A high level of customer service to inform and educate employers and employees of their cost saving options
Visit http://rxresults.com/ for more information.