OVERLAND PARK, Kan., Nov. 18, 2019 /PRNewswire/ -- Founder and CEO Michael Rea of Rx Savings Solutions, has received the 2019 Kansas City Entrepreneur of the Year award. Presented by the University of Missouri-Kansas City's Regnier Institute for Entrepreneurship and Innovation, the award was presented at a celebratory gala at the Bloch School of Management on November 15.
The awards program was founded in 1985 and celebrates those with innovative and creative accomplishments and those who are inspiring the next generation of successful entrepreneurs.
Dr. Rea formed Rx Savings Solutions, a prescription drug savings software tool used by health plans and Fortune 500 employers, in 2008 after routinely witnessing consumers struggling to pay for their medications. Working as a pharmacist, he quickly noticed that consumers were paying much more than they needed to for their prescriptions, which was attributable to a lack of information available to them. Since inception, Rx Savings Solutions has operated with the goal of bringing price transparency and advocacy to the market.
6.5 million members now have access to Rx Savings Solutions, up from 2.3 million on January 1, 2019. Rx Savings Solutions has lowered spend for clients and members by more than $50M, verified through tracked behavior changes. Notably, the "Contact Prescriber" innovation has an approval rate of 80% by prescribers of the clinical suggestions the company has made to members.
"It is a great honor to receive this distinction which recognizes the continued efforts of not only myself, but of our entire Rx Savings Solutions team," said Michael Rea. "Every day we are inspired by the members we are proud to serve as we continue to look for new ways to harness technology and adopt solutions that allow consumers to be consumers and make educated decisions about their health."
For more information about the Entrepreneur of the Year Award, please visit the UMKC website.
About Rx Savings Solutions
Rx Savings Solutions offers an innovative, patented engagement software system empowering employers and employees to be educated consumers of healthcare. In addition to large, Fortune 500 Employers, Rx Savings Solutions also services health plan clients. Founded and operated by a team of pharmacists and software engineers, Rx Savings Solutions supports a collaborative, cost-saving solution for purchasing prescription drugs. For more information, visit rxsavingssolutions.com or follow them on LinkedIn and Twitter.
S&C Public Relations Inc.
SOURCE Rx Savings Solutions