BIRMINGHAM, Ala. (PRWEB) July 8th, 2019 – For years RxBenefits has led the industry as the sole provider of a pharmacy benefits management (PBM) platform designed to keep the pharmacy benefit affordable for small to mid-sized employers. Today, the company announced that it is building upon that reputation with Capstone Health Alliance, one of the largest alliances in the country, endorsing its pharmacy benefits solution to deliver quantifiable savings, better contract terms, high-touch service, and improved clinical oversight to its provider member facilities.
With pharmacy benefits costs on the rise, now accounting for almost twenty cents of every healthcare dollar spent, self-insured employers are in the market seeking alternative cost savings solutions. Traditional carve-in models, where the pharmacy and healthcare benefits are combined through a single carrier, are giving way to carve-out models which give employers added leverage to help lower annual spend and improve the member experience. Unfortunately, small to mid-sized employers who attempt to negotiate directly with the PBMs rarely get the best deal.
“Pharmacy is a scale business, which is why small to mid-sized employers that want to carve out typically have a difficult time negotiating the best pricing and service model for their employees,” said Bryan Statham, CEO of RxBenefits. “The challenges are even greater in the hospital and health system employer space, where each hospital is unique and requires a specialized pharmacy management solution to address its needs.”
Statham went on to say, “With RxBenefits quickly approaching 2M member lives and $2B in pharmacy spend under management, we allow employers to buy with the purchasing power of a Fortune 100 company. We are excited about the opportunity to build on our momentum in this space by partnering with Capstone to create an additional, highly reputable distribution channel for our already differentiated hospital solution.”
Data-powered Pharmacy Intelligence to Transform Clinical & Cost Outcomes
Capstone Health Alliance is a regional group purchasing alliance of healthcare members that delivers real cost savings through the power of aggregation and collaboration. In addition to cost savings initiatives, Capstone members collaborate to share best practices and pursue resource utilization initiatives, all with the intent of improving cost, quality, and outcomes in patient care.
Since its September 2017 launch, RxBenefits’ hospital solution has disrupted the market by identifying impactful contract and clinical opportunities that are unique to each hospital, achieving measurable results that include an average savings of 25-35 percent for more than 100 hospital partners nationwide. The company provides best-in-class consultative services through an account team that is well-versed in owned resources unique to hospitals, like on-site retail and/or specialty pharmacies, 340B/group purchasing, and own-use pricing.
“In addition to better pricing and contract terms, RxBenefits offers our members access to a level of customer and clinical management services typically reserved for Fortune 100 employers,” said Jackie Dula, Chief Customer Officer of Capstone Health Alliance. “Their ability to guide clinical decisions to drive effective cost and clinical outcomes and turn around and share insights into how those clinical decisions are made with our members tightly aligns with our value proposition, differentiates them in the space, and makes them the logical vendor of choice.”
RxBenefits is a PBM-agnostic pharmacy benefits solution provider, providing employee benefit consultants (EBCs) and their self-insured clients prescription drug program savings and exceptional member service. Our unique approach focuses on our market-leading purchasing power, independent clinical solutions and high-touch superior service, allowing our clients to meet their pharmacy program objectives. RxBenefits’ unwavering commitment to keeping pharmacy benefits affordable has created a better solution for the ever-changing market. Founded in 1995, RxBenefits is headquartered in Birmingham, Alabama. For more information, visit www.rxbenefits.com.
About Capstone Health Alliance
Capstone Health Alliance is a regional group purchasing alliance of healthcare members that delivers real cost savings through the power of aggregation and collaboration. Based in Fletcher, North Carolina, Capstone represents over $9 billion in acute care supply chain spend. To create the best savings opportunities for our members, we pair Premier’s national portfolio with our local aggregation model – blending the best of national and regional contracting – to continually expand our extensive portfolio of more than 750 preferred pricing agreements. Capstone delivers quantifiable savings and actionable data that enable better supply chain decisions for our member facilities. In addition to cost savings initiatives, Capstone members collaborate to share best practices and pursue resource utilization initiatives, all with the intent of improving cost, quality, and outcomes in patient care.