Did you know? On average, nearly 3% of a member population will require a specialty medication. Even this small number can increase total pharmacy costs by 50% and create challenges for employers who want to ensure employees have access to medications. These high drug costs are also a leading cause of lasers on self-funded plans.
At VeracityRx, we help employers and employees save money without shifting costs or reducing pharmacy benefits. Our team has over 45 years of experience in the pharmaceutical industry and works exclusively for the employer. We do not accept payment from any other entity, especially not from PBMs or drug manufacturers.
Why Employers Love Us
Substantial Savings. Our employers save an average of 50%. How? We save employers in a variety of ways:
The PBM Contract: We write contracts that employers sign with PBMs. We take out the hidden costs that benefit PBMs that were previously at the expense of employers.
Select Pharmacies: We have discovered that certain pharmacies charge $20/script more than other pharmacies, and we recommend the employer incentivize members to go elsewhere.
The Formulary: VeracityRx defines the formulary. While all rebates are returned to the employer, we do not manage the formulary to maximize rebates but rather to encourage utilization of the most cost-effective, clinically appropriate medications.
High-Cost Drugs: We take advantage of all opportunities for the plan to save money through Personal Importation, Copay Cards, or Manufacturers’ Assistance.
Retention Rate. Our group retention rate is 98%, with tens of thousands of members covered. We pride ourselves on being customer-centric and providing innovative solutions through truth and transparency. We know that change is hard, and we prioritize the member experience.
Fee Guarantee. We charge a nominal monthly PEPM fee (per employee per month) to oversee and manage your program. If we do not save you the amount of our annual fee, we will refund our entire fee.
In-house Management. Our pharmacy team, consisting strictly of pharmacists and pharm-techs, is located entirely in-house. As a result, we manage every touch point. We are in regular communication with both the employer and the patient and are also available for on-site visits to work with members.
We are not an Add-on or Overlay. Many programs handle only specialty and some other higher-cost drugs but operate more or less independently from the PBM. VeracityRx is not one of those companies. We manage the entire program from contract to medication delivery, whether it’s the 97-98% who experience little change or whether it’s the 2-3% who are more impacted by our programs. We want to make sure that every member is satisfied, and that every dollar is appropriately spent.
