RxSaveCard - 3x3x3 Challenge With Chris Crawford
The Rx Save Card allows employers to access prescription drug cash prices (such as Cost Plus Drugs) and discount cards, saving money for your company and your employees, without having to change PBMs.
Transcription:
What is RxSaveCard?
The RxSaveCard is the perfect compliment for any employer with a traditional PBM that is self-funded and is concerned about their ERISA fiduciary responsibility, or is hearing noise from employees like, "Hey, I see cash prices through discount cards or drugs at Mark Cuban are less expensive than my insurance. Why can't I get access to those?" And that's what the RxSaveCard does.
How is RxSaveCard different?
Yeah, so how RxSaveCard works is anywhere there's a cash price that you want to access as an employer, we allow you to do that. So some common examples of what we see, Mark Cuban Cost Plus Drug Company. You go through there, you're going to see multiple examples where generic drugs are 90% less, often saving thousands and thousands of dollars per prescription, in Cost Plus compared to what you're paying through your PBM. We also have a solution at retail. So what we do is we pull the best price automatically from over 10 different discount cards. So the employee just shows up to their normal pharmacy, gets the same exact drug that they always receive, and the total spend reduction for employers ends up being about 30 to 60% on that entire retail generic spend, and employees end up getting most of their generic drugs for free. Then another thing we're seeing is some pharmaceutical manufacturers offering drugs directly on their website. So for instance, there's a popular GLP-1 drug that's offered through Eli Lilly's website that's about 50 to 70% less than what is paid through the PBM, so the RxSaveCard also allows access to those types of solutions as well.
Who is a good fit for RxSaveCard?
Yeah, so any self-funded employer that's with a traditional PBM, this is the perfect compliment that not only helps you meet your ERISA fiduciary responsibility, but saves you and your employees money. So employers have the total autonomy to select the pharmacies where they'd like the card to work, set spending limits, and they can differ by pharmacy of how much you want to allow for the purchases, automatic price check, all the employee has to do is show their RxSaveCard and the best price automatically comes up. When that best price comes up, the same card is used for seamless payment. Pharmacy gets paid the full price of the drug at the transaction. Employees walk away with many drugs for free and employers save.
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Transcription:
What is RxSaveCard?
The RxSaveCard is the perfect compliment for any employer with a traditional PBM that is self-funded and is concerned about their ERISA fiduciary responsibility, or is hearing noise from employees like, "Hey, I see cash prices through discount cards or drugs at Mark Cuban are less expensive than my insurance. Why can't I get access to those?" And that's what the RxSaveCard does.
How is RxSaveCard different?
Yeah, so how RxSaveCard works is anywhere there's a cash price that you want to access as an employer, we allow you to do that. So some common examples of what we see, Mark Cuban Cost Plus Drug Company. You go through there, you're going to see multiple examples where generic drugs are 90% less, often saving thousands and thousands of dollars per prescription, in Cost Plus compared to what you're paying through your PBM. We also have a solution at retail. So what we do is we pull the best price automatically from over 10 different discount cards. So the employee just shows up to their normal pharmacy, gets the same exact drug that they always receive, and the total spend reduction for employers ends up being about 30 to 60% on that entire retail generic spend, and employees end up getting most of their generic drugs for free. Then another thing we're seeing is some pharmaceutical manufacturers offering drugs directly on their website. So for instance, there's a popular GLP-1 drug that's offered through Eli Lilly's website that's about 50 to 70% less than what is paid through the PBM, so the RxSaveCard also allows access to those types of solutions as well.
Who is a good fit for RxSaveCard?
Yeah, so any self-funded employer that's with a traditional PBM, this is the perfect compliment that not only helps you meet your ERISA fiduciary responsibility, but saves you and your employees money. So employers have the total autonomy to select the pharmacies where they'd like the card to work, set spending limits, and they can differ by pharmacy of how much you want to allow for the purchases, automatic price check, all the employee has to do is show their RxSaveCard and the best price automatically comes up. When that best price comes up, the same card is used for seamless payment. Pharmacy gets paid the full price of the drug at the transaction. Employees walk away with many drugs for free and employers save.
Click this link to subscribe to the BenefitsAlly Substack for FREE!
https://benefitsally.substack.com/