The company’s transparent pharmacy benefit solution delivers improved total prescription costs in third-party report.
REDMOND, Wash., Jan. 10, 2023 /PRNewswire/ — Prescryptive Health, a healthcare technology company on a mission to rewrite the script for the U.S. pharmaceutical market, today announced their transparent pharmacy benefit management (PBM) solution has been validated for savings by the Validation Institute. The Validation Institute found that employers and plans who use Prescryptive Health for their pharmacy benefits have lower per member, per month (PMPM) pharmacy benefit costs than those using traditional PBMs.
“Prescryptive goes beyond transparency —we’re transforming pharmacy benefits,” said Josh Richardson, Prescryptive Health’s Chief Commercial Officer. “We don’t play the traditional PBM games and instead focus on rewriting the script through technology and transparency. For employers and health plans, Prescryptive helps empower consumers through our mobile-first technology, which cuts costs and inspires better health. It’s meaningful to know that the Validation Institute has confirmed the approach of our business model.”
While traditional PBMs frequently offer cost guarantees, Prescryptive’s model presumes that such agreements can only guarantee inflated prices, which, in turn, exacerbate high pharmacy costs. To date, 100% of Prescryptive clients have experienced improved pricing compared to their previous PBM.
“As an independent, objective third-party organization, Validation Institute provides unbiased, data-driven insights on healthcare solutions and services. The goal is to put more purchasing power in buyers’ hands,” said Benny DiCecca, Validation Institute CEO & President. “Our team found that users of Prescryptive Health’s pharmacy benefits can reduce health care spending per participant and for the plan overall.”
The method of validation included tracking one employer group’s pharmacy costs for two years. The first year was a 12-month period that preceded the employer enrolling with Prescryptive. The comparison year was the employer’s second 12-month period with Prescryptive. The results: Total prescription costs were reduced by 14%.
About Prescryptive Health
Prescryptive Health is a healthcare technology company delivering solutions that empower consumers. Prescryptive’s secure, mobile-first products connect consumers, pharmacists, and employers, ultimately providing people with the information they need to make informed decisions and take control of their health. To learn more about Prescryptive Health, visit www.prescryptive.com.
About Validation Institute
Validation Institute is a professional community that advocates for organizations and approaches that deliver better health value and stronger health outcomes at lower cost. We connect, train, and certify health care purchasers, and we validate and connect providers delivering superior results. Founded in 2014, the mission of the organization has consistently been to help provide transparency to buyers of health care. To learn more about Validation Institute, visit www. validationinstitute.com.