Client: A school district based on the west coast with strong budget concerns.
Client Since: October 2004-present
Critical Issue: The school district was working with a nationally recognized PBM. They were looking for ways to control and possibly reduce their drug spend without cost shifting to their members.
Opportunity: The district provided RxEDO with historical claims information that would enable them to compare RxEDO’s PBM alternative business model to that of their PBM. The comparison demonstrated a savings of nearly $10 per claim to the school district. In addition, during the evaluation process RxEDO educated the school district about manufacturer rebates and that the plan would retain the bulk of the rebate dollars.
Results: The school district transitioned to RxEDO, realized a claims savings of $20,000 per month and received their first manufacturer rebate check in the plan’s history. All without making any changes to their current copay design and shifting costs to their members.
“RxEDO opened our eyes and educated us in regard to traditional PBM business practices. We had no idea that the PBM we were working with was making so much money off our account and that manufacturer rebates even existed. In addition to the savings our plan has realized, RxEDO has provided outstanding service and valuable insight regarding cost management opportunities for our plan. We only wish we could have found out about RxEDO sooner”
Chief Business Officer
Client: A manufacturer of high quality footwear with a commitment to production in the USA.
Client Since: January 2005-present
Critical Issue: The manufacturer moved from a large Managed Care Organization to a Third Party Administrator for their new plan year. The manufacturer assumed they would be able to utilize the same PBM when they made their transition. Unfortunately, the manufacturer was informed at a late date that they would need to make other arrangements.
Opportunity: The manufacturer contracted with RxEDO the week between Christmas and New Year’s Day to address their dilemma. The client needed a prescription administrator to copy their current prescription benefit, as well as produce identification cards for delivery before the 1st of the year.
Results: RxEDO implemented the client’s drug plan and delivered identification cards to all client locations by December 28th. After the quick turnaround RxEDO reviewed the first month of claims with RxEDO and compared expenses to its previous provider. The result, our client realized a savings of $7 per claim without making any copay design changes and shifting additional burden to their members.
“The fact that RxEDO was able to implement our program and deliver our identification cards on such short notice during the holiday season was nothing short of amazing. What made it even better was that our plan was able to realize a savings without making any benefit changes and impacting our members. Our experience with RxEDO has made us true believers in their service and business model.”
Vice President of Finance
Client: A large hospital system based in the Southeast.
Client Since: March 2005-present
Critical Issue: As a large hospital system in a competitive market the hospital was faced with the task of managing increasing drug trends without shifting more of the cost burden to its employees.
Opportunity: Like most employers in a competitive market, particularly hospitals, employee retention is paramount. The slightest change in employee benefits, such as drug copays, could send a key employee to the competitor. Thus, the easiest and most effective way to manage the prescription benefit costs without making changes to the plan was for the hospital to transition to RxEDO’s Prescription Benefit Partner (PBP) service model.
Results: The hospital transitioned to RxEDO without making any changes to their current benefit design and kept all drug copays the same. The plan not only kept increasing drug trends in check, it realized a per claim cost savings of over $4.00 per claim, which translated into thousands of dollars in savings to the plan.
“As a percentage of our total healthcare dollar, the importance of managing our annual drug cost has increased in each of the last five years. We placed a great deal of faith in RxEDO, as a new company, to deliver their unique business model and service. We are happy to say that RxEDO not only delivered they exceeded our expectations. We would recommend their service to anyone interested in controlling their prescription costs.”
Vice President HR
Large Hospital System