New multi-supplier approaches to replacing traditional PBMs can be aided by RxLink discounts and patient assistance
Recently, Blue Shield of California dropped CVS/Caremark as its PBM, replacing it with a multi-supplier approach to control costs, optimize patient experience and improve affordability.
The new structure retains CVS as the PBM and pharmacy for specialty drugs, but adds several other partners including The Mark Cuban Cost Plus Drug Company to provide prescribed medications through both retail and mail order.
Describing the new model, the COO of Blue Shield of California, said:
“The whole point of this is that we don’t have one pharmacy benefit manager anymore. We have partners that are best in breed at particular pieces, and we are working in the middle, if you will, making sure that our members are getting the best prices and the best experience.”
For payers and employers seeking a multi-supplier, multi-delivery-channel model, RxLink can be an essential resource. We provide pharmacy discounts for patients, optimized across all the medications they may be taking, in a simple, easy-to-use interface.
Here are three reasons to include RxLink as part of your pharmacy benefit approach:
- RxLink can provide the optimal discounts for the patient’s coverage situation, often bypassing insurance—and the costs related to it—entirely. You may have read our previous article explaining how insured patients can often pay less than their insurance co-pay for medications by using a discount card.
RxLink conveniently compares multiple discount card providers, manufacturer patient savings offers, and the patient’s insurance to deliver the lowest out-of-pocket costs possible. This motivates patients to use the card rather than insurance, saving payers and employers on PBM costs and fees while maintaining full visibility to the patient’s medication compliance (when the patient utilizes a discount card) through data supplied by RxLink.
- RxLink helps patients navigate a complex pharmacy landscape.
When patients log into the RxLink platform, their prescribed medications can be pre-populated based on prescribing information. Then, patients can see their out-of-pocket costs at different pharmacies, including options which provide both benefits to the patient as well as the payer or employer.
For example, if a payer or health system has a preferred relationship with a specific specialty pharmacy, RxLink’s Med Map can highlight the cost and convenience advantages of that pharmacy.
The result is actionable information to let the patient make decisions that optimize their experience, reduce their out-of-pocket responsibility, and control overall costs.
- The Mark Cuban Cost Plus Drug Company is part of RxLink’s network. Mark Cuban Cost Plus Drugs is an innovator in providing both reduced costs for patients as well as transparency of drug manufacturing and distribution costs; it is therefore often part of a fresh approach to providing pharmacy benefits.
In the RxLink platform, when a prescribed medication is available at Mark Cuban Cost Plus Drugs, patients are given the real-time current cost at that pharmacy as well as a link including instructions on how to join and save.
If you are a payer or employer, RxLink can help you rethink your approach to supplying pharmacy benefits by supplying significant discounts on prescription drugs as well as providing patients with the information required to make optimized decisions to reduce their costs—and yours!
E-mail us at email@example.com to start the discussion!