Independent pharmacies know they are unique and so does RxPreferred Benefits. Their approach to PBM and 340B administration is quite different than with other companies. RxPreferred was founded and is solely owned by independent pharmacy representatives. So, they know first-hand how hard it is to be on the other side of the counter. Therefore, they are extremely committed to a zero conflicts-of-interest strategy and so much so that it is in their organizational bylaws. By not practicing vertical integration, RxPreferred Benefits can administer plans with a clear vision and unbiased perspective. This allows covered entities to create a custom program that maximizes opportunities and effectively reinvests their savings.
The 340B Report, an indispensable news and information source, and their CEO Ted Slafsky introduced RxPreferred Benefits to their readers through their regular issue sent on August 3rd, 2021. The issue promoted the article, “The Power of Partnership: Work with an Administrator that Understands Independent Pharmacies.”
In the article, RxPreferred Benefits’ President and CEO Jeff Malone spoke about the importance of providing collaborative partnerships with independent pharmacies. Large traditional PBMs and Administrators create relationships that are one-sided and are riddled with conflicts of interest. Spread-pricing, rebate and manufacturer steerage, and mail-order & specialty pharmacy ownership are just a few ways they are misaligned with their pharmacy clients’ goals.
We recognize that without the 340B program, many clinics and hospitals would not be able to serve the vulnerable patients they do today. This responsibility is essential to us, and as a transparent administrator, RxPreferred is proud to be part of the solution.
RxPreferred Benefits is a fully transparent 340B Administrator and Pharmacy Benefits Manager (PBM) that partners with independent pharmacies as a trusted ally. As a 340B Administrator, RxPreferred provides its independent pharmacy partners with real-time identification of eligible patients, customized reporting, automatic compliance updates to their system, and so much more. With these powerful tools at their disposal, independent pharmacies are now able to serve the underserved population by better understanding who qualifies for assistance and delivering the prescription medications they so desperately need.
RxPreferred works with covered entities and contract pharmacies of all kinds across the country, helping them positively impact their local communities by building long-standing efficient programs. And, with a 100% HRSA audit pass rate, they have developed enduring relationships with many of the country’s top programs.
Read the original story, “The Power of Partnership: Work with an Administrator that Understands Independent Pharmacies,” written by Jeff Malone, President and CEO RxPreferred Benefits. Published on the 340B Report website on August 3, 2021.
