OVERLAND PARK, Kan., June 9, 2020 /PRNewswire/ -- Since implementing Rx Savings Solutions ﬁve years ago, the State of Kansas State Employee Health Plan (SEHP) has saved more than $40 million in prescription expenses by taking advantage of the tool's clinically sound, cost-saving suggestions.
The State of Kansas was one of the ﬁrst in the country to recognize the need for personalized prescription transparency for its more than 75,000 members and their families. In addition to the reported lifetime savings, the State's engagement with Rx Savings Solutions showed a 6:1 ROI in 2019, with one in three members reported switching to a lower-cost suggestion using the proactive, personalized recommendations.
Serving over 7 million members, Rx Savings Solutions empowers consumers with the information they need to make informed decisions on their prescription spend. Notably, the "Contact Prescriber" innovation, which automates the process of requesting a prescription change to a lower-cost but therapeutically equivalent option and contacting the member's physician and pharmacy, has an approval rate of 80%.
The State of Kansas launched the Rx Savings Solutions tool five years ago, completely transforming the way members purchase prescription drugs. Today, the solution is working harder and smarter, delivering more value than ever before.
"Pharmacy, the most consumed and repeated health beneﬁt, is the fastest growing segment in U.S. healthcare today," said Michael Rea, founder and CEO of Rx Savings Solutions. "That's why reducing the cost of prescription drugs is one of the easiest, most effective and tangible ways to control healthcare costs—for the SEHP, its members and the taxpayers of Kansas. We are proud of the work we have done together and are confident in our path forward as we continue to help them navigate these costs and save money."
About Rx Savings Solutions
Rx Savings Solutions offers an innovative, patented engagement software system empowering employers and employees to be educated consumers of healthcare. Founded and operated by a team of pharmacists and software engineers, Rx Savings Solutions supports a collaborative, cost-saving solution for purchasing prescription drugs. Using their clinical backgrounds, Rx Savings Solutions delivers proactive personalized recommendations on ways to optimize therapies to members, while achieving proven savings results for employers, employees and health plans. Located in Kansas City, Rx Savings Solutions serves self-insured businesses, employer groups, health plans and their members nationwide. For more information, visit rxsavingssolutions.com or follow them on LinkedIn and Twitter.
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SOURCE Rx Savings Solutions