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EnvisionRx and Costco Wholesale Corporation Announce Alliance to Improve Prescription Costs and Care for Consumers with Chronic ConditionsEnvisionRx, the pharmacy benefit management (PBM) division of EnvisionRxOptions, and Costco Wholesale Corporation, the largest membership warehouse club in the United States, have partnered to expand Rx90, an important tool in the fight to improve care and reduce cost for people with chronic health conditions. Costco's participation in the Rx90 program adds to the nation's largest 90-day maintenance medication network. For the same price, consumers have the option to fill their prescriptions at any of the nearly 500 Costco U.S. locations, via home delivery through EnvisionPharmacies' mail service, or at any of the thousands of other participating Rx90 pharmacies nationwide. By providing consumers with improved pricing and convenient pharmacy options, Costco is partnering with EnvisionRx to address rising healthcare costs and improve health outcomes. "Getting patients to change their behavior isn't easy. A successful strategy needs to address all of the reasons that cause members to be non-adherent to their care plans," said EnvisionRxOptions President Dawn Sherman. In addition to convenient pharmacy choices and lower cost drugs, Rx90 helps change patient behaviors by:
"We analyze each plan sponsor's membership and, based on their own plan data, we provide recommendations," said Sherman. "One of the benefits of working with Envision is that we givethem options to customize their program, based on their specific needs - geographic location, business goals, or member profiles. Our average Rx90 client saves between 2-7% on annual drug spending." Envision's patented technology platform allows clients to review results and quickly tailor benefit design to provide greater value to their members. This helps payers better control drug spend and reduce costly medical expenses associated with increased visits to physicians, emergency rooms and extended hospitalizations. These benefits align with Costco's operating philosophy of keeping costs down and passing savings on to their members. "When you combine our large membership base and tremendous buying power with our never-ending quest for efficiency, the result is the lowest possible price for members," said Costco's Senior Vice President of Pharmacy, Victor Curtis. "The EnvisionRx approach to pharmacy benefits and their transparent philosophy of sharing savings with their clients and members make this a natural partnership that we believe will help make Costco members happier and healthier and introduce Costco to more customers." About Costco Costco, the leading global membership warehouse club, currently operates 723 warehouses, including 506 in the United States and Puerto Rico, 94 in Canada, 36 in Mexico, 28 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan. For more information, visit www.costco.com and click on Investor Relations. About EnvisionRxOptions EnvisionRx is a division of EnvisionRxOptions, a health care company with a visibly different approach to managing pharmacy benefits. As a full service provider, EnvisionRxOptions leverages its core PBM services and technologies, as well as Mail, Specialty and Compounding Pharmacies; Part D Medicare insurance plans; and cash savings programs, to help employers and health plans of all sizes provide more affordable and effective prescription drug coverage for their members. Headquartered in Twinsburg, Ohio, EnvisionRxOptions is a wholly owned subsidiary of Rite Aid. For more information, visit www.envisionrxoptions.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170202005841/en/ |
