For the fourth consecutive year, the HR Policy Association Pharmaceutical Coalition has certified Prescription Solutions by OptumRx, a pharmaceutical benefits manager, as part of HR Policy's Transparency in Pharmaceutical Purchasing Solutions program.
Of the PBMs, Prescription Solutions is one of five that discloses the wholesale acquisition cost pricing for mail order medications. The WAC, a nationally tracked index, closely indicates drug pricing dynamics.
"We want our clients to fully understand our pricing structure as well as the overall value of their health benefits," says Ed Feaver, Pharm.D, president of OptumRx. "This enables clients to provide cost control for their companies and employees. TIPPS certification is an important contributor to our reputation as an industry leader. Every day we strive to show our commitment to our clients, and one element of that commitment is to be open and honest about our pricing structure."
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According to TIPPS standards, employers, beneficiaries and dependents can better understand the precise price of a medication. The TIPPS standards were formed to urge PBMs to use the most clinically sound and cost-effective medications in the market.
The HR Policy includes nearly 60 association member companies and represents more than 5 million Americans. With the TIPPS certification, Prescription Solutions can offer PBM services to members of the coalition.
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