April 22, 2015
Proxsys Rx Launches Pharmacy Benefit Management Services to Save Employers 5 to 20 Percent on Prescription Drug Benefits
Unique PBM model integrates transparency and value
(Birmingham, AL) Proxsys Rx, 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 Proxsys Rx PBM program. Beneficiaries have the convenience of engaging with a pharmacist in person, on line, or by telephone. Prescriptions may be filled at a Proxsys Rx 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 Proxsys Rx CEO George Salem. “Transparency is key in delivering value and keeping down drug costs, and transparency is unique to our model. The Proxsys Rx 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 partnership with RxPreferred Benefits, employers and patients benefit,” said Salem.
“We are proud to partner with Proxsys Rx. We believe their ability to reach a significant number of hospitals provides an outstanding opportunity to deliver transparent PBM and 340b solutions. Proxsys Rx customers will value both organizations’ ability to drive new revenue and cost savings,” said RxPreferred Benefits CEO Jeff Malone.
The Proxsys Rx PBM program delivers a full array of services including: benefit plan design, pharmacy claims processing, customized formulary management, transparent rebate administration, member and provider helpdesk, drug utilization review, and cost containment and reporting services. Hospitals also have the option of extending the program to businesses in their service area as part of their community outreach.
Proxsys Rx 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 Proxsys Rx PBM service provides hospitals and health care systems with a rare opportunity to significantly reduce the cost of their PBM programs.
About Proxsys Rx
Proxsys Rx 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. Proxsys Rx capitalizes outpatient pharmacies and provides ongoing integration and operational support, integrating the pharmacy into high value points along the continuum of care. Proxsys Rx 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. Additional information is available at www.Proxsysrx.com.
RxPreferred Benefits (www.rxpreferred.com) 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 (www.surgicalmeds.com) 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.
Media Contact: Melanie McCraney
McCraney Communications for Proxsys Rx