CANTON, Ohio--(BUSINESS WIRE)--After an extensive search, Employers Health, a national coalition of employers and other self-funded plan sponsors, has selected EnvisionRx as a preferred pharmacy benefit manager (PBM). EnvisionRx is the newest option, joining OptumRx and CVS Health in providing prescription benefits for more than 215 employers in the Employers Health coalition, caring for more than one-million patients across the United States.
The unique model offered by EnvisionRx ‘passes through’ drug rebates and negotiated discounts on drug prices to the company’s employer clients, providing Employers Health member companies with the option to receive rebates at the point of sale. As a result, plan sponsors have better clarity on their drug spending and receive the benefit of continuous contractual improvements. When combined with the added support of Employers Health’s account management, clinical, legal and analytics teams, this relationship offers a unique alternative for coalition members.
“As we strive to reduce rising health care costs for plan sponsors and their participants, we are excited to add EnvisionRx to our already impressive group-purchasing offerings. EnvisionRx is a unique PBM option for plan sponsors looking for a more straight-forward approach to managing their pharmacy costs, while benefiting from the purchasing scale of Employers Health, and added flexibility, such as point-of-sale rebates and multiple contract models,” stated Employers Health CEO, Chris Goff.
In 2001, EnvisionRx was founded on the idea of transparency. The PBM has a patented point-of-sale rebate technology that many of its commercial clients successfully utilize to share rebates with patients at the point of sale. As regulations to mandate the use of point-of-sale rebates for government-sponsored health plans are currently being debated, EnvisionRx has significant experience with point-of-sale rebates and offers plan sponsors an option that is already compliant with proposed legislation.
“EnvisionRx looks forward to offering our common-sense approach to the coalition members of Employers Health,” said Bill Epling, president of EnvisionRxOptions. “We help employers gain clarity into their true drug spend. While other PBMs try to position rebates and discounts as ‘savings,’ their approach often results in unnecessary spending and can sometimes make it more difficult for patients to get access to the medications they need. EnvisionRx ensures that patients receive the right drug, at the right time and the right cost.”
Employers Health Chief Marketing Officer, Mike Stull, added, “Because we know one size doesn’t fit all, this addition provides another unique model for self-insured employers seeking a new PBM. As a fully integrated PBM with its own claims adjudication system, a high-touch approach to specialty management and a willingness to be flexible, EnvisionRx is able to provide our employers with prescription benefits that meet the unique needs of their business, employees and families, at a lower cost.”
About Employers Health
Founded in 1983, Employers Health provides aligned, independent and transparent resources, tools and expertise to help plan sponsors deliver access to high-quality health benefits at a sustainable cost. Employers and plan sponsors benefit from Employers Health’s group purchasing opportunities for pharmacy, medical, EAP services, dental and vision benefits. Employers Health began group purchasing for pharmacy benefit management services in 1995, making it one of the oldest and most established employer-founded group purchasing coalitions in the country. Today, more than 250 employer-members in 34 states participate in our group purchasing programs for pharmacy benefits through CVS Health, OptumRx and EnvisionRx. To learn more about Employers Health, visit employershealthco.com.
EnvisionRx is a division of EnvisionRxOptions, a pharmacy benefits and services company and wholly owned subsidiary of Rite Aid. URAC accredited for Pharmacy Benefit Management (PBM) and Drug Therapy Management (DTM), EnvisionRx provides affordable and effective prescription drug coverage for employers and health plans. The first PBM to offer true transparency, EnvisionRx provides flexible, customizable services, such as traditional and pass-through pricing, unique network and formulary design, and specialty pharmacy care. Using its proprietary EnvisionCare model, EnvisionRx optimizes all aspects of the pharmacy care experience to consistently achieve better patient and plan outcomes. For more information, visit envisionrx.com.