ProxsysRx Launches Pharmacy Benefit Management Services
Saves Employers 5%-20% on Prescription Drug Benefits
Birmingham, AL – ProxsysRx, the nation’s largest Integrated Outpatient Pharmacy Provider, has launched a Pharmacy Benefit Management service (PBM) to serve hospitals, health care systems, and other major employers. The program can typically reduce an employer’s prescription drug benefit expense by 5 to 20 percent. In addition, the employer gains access to all available drug rebates.
Service, quality, value, and convenience are cornerstones of the ProxsysRx PBM program. Beneficiaries have the convenience of engaging with a pharmacist in person, online, or by telephone. Prescriptions may be filled at a ProxsysRx pharmacy on health care campuses, via home delivery, or at more than 65,000 pharmacies nationwide. The program also reduces prescription drug expenses for employers and employees.
“An unprecedented benefit we provide employers is full disclosure of all associated costs and real-time plan management, “said ProxsysRx CEO George Salem. “Transparency is key in delivering value and keeping down drug costs, and transparency is unique to our model. The ProxsysRx PBM service allows health care systems to reap benefits that until now were reserved for third party providers. By bringing the program into the health system through a partnership with RxPreferred Benefits, employers and patients benefit,” said Salem.
“We are proud to partner with ProxsysRx. We believe their ability to reach a significant number of hospitals provides an outstanding opportunity to deliver transparent PBM and 340b solutions. ProxsysRx customers will value both organizations’ ability to drive new revenue and cost savings,” said RxPreferred Benefits CEO Jeff Malone.
ProxsysRx unveils the PBM at a time when employers are facing growing financial pressures in providing health care benefits because of changes and cost increases associated with the Affordable Care Act. According to data compiled in the 2015 Segal Health Plan Cost Trend Survey, the rate of annual premium increases for prescription drug plans is projected to increase significantly in 2015, while the forecast predicts health benefit plan costs will decrease slightly over the same period. The ProxsysRx PBM service provides hospitals and health care systems with a rare opportunity to significantly reduce the cost of their PBM programs.
ProxsysRx is the nation’s largest Integrated Outpatient Pharmacy Provider, IOPP™, a health services company focused on managing and integrating outpatient pharmacies into the continuum of care for hospitals and health systems in order to enhance the quality of care and drive economic indicators. ProxsysRx capitalizes outpatient pharmacies and provides ongoing integration and operational support, integrating the pharmacy into high value points along the continuum of care. ProxsysRx provides health care systems with long-term cost savings by reducing readmissions, improving HCAHPS scores and improving other key health system strategic indicators that impact reimbursements and margins and accelerate Meaningful Use compliance.
About RxPreferred Benefits, LLC
RxPreferred Benefits, LLC is a privately-held pharmacy benefit manager founded, and solely owned, by independent pharmacy representatives. RxPreferred offers a full line of pharmacy benefit management solutions for employer groups, municipalities, school districts and third-party administrators focused on guaranteed savings and cost-containment strategies. Its SurgicalMeds division is a provider of preferred access and pricing to critical medications that are in short supply for ambulatory surgical centers, surgical hospitals, and healthcare facilities nationwide.
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