COLLINSVILLE, Conn., April 29, 2021 /PRNewswire/ — CoeoRx recently launched to provide small- and mid-sized employer groups with the access to customized pharmacy benefits that lower healthcare costs while still providing the highest quality care for their employees. The company’s unique approach brings choice, leverage and savings previously unavailable to small organizations navigating the complex world of pharmacy benefit solutions.
“Only in our broken healthcare system would PBMs and health plans refer to companies with less than 500 lives as ‘small,'” says CoeoRx president Erik Wallace. “We believe businesses of any size deserve options and leverage in the healthcare marketplace. In fact, employers with less than 500 employees make up 99.6% of all businesses and are truly the lifeblood of the US economy.”
Through aggressive, pre-negotiated pharmacy benefit contracts, CoeoRx is able to offer these employer groups options and pricing normally reserved for larger organizations. CoeoRx clients can also opt in to specialty drug solutions or clinical programs and value-added services such as integrated cash pricing and international filing options, which take advantage of drug pricing outside the traditional channels.
The result is an innovative solution below the market rate and one that is tailored specifically for each group. Since the pharmacy benefit marketplace is always changing, and companies grow and evolve, the process is ongoing and adaptive. CoeoRx enables its clients to navigate this landscape.
Through a proprietary pricing system that analyzes over 200 potential combinations of custom pharmacy solutions, CoeoRx provides a foundation of data and analytics to guide pharmacy benefit decisions based on each organization’s needs and utilization. On average, CoeoRx clients see pharmacy benefit savings of 30 percent (which can total six to eight figures) without significant disruption to their employees.
“Employer groups are in a difficult position,” says Wallace. “They want to provide excellent healthcare to ensure the well-being of their greatest asset — their people — but rising costs make that harder and harder to do. We are committed to freeing our clients from this dynamic and to lowering healthcare costs in the US as a whole.” CoeoRX is an affiliate of Goodroot, a community of companies committed to reinventing healthcare one system at a time.
“Small and medium employer groups and their brokers often feel they have no choice but to approve annual rate hikes,” says Goodroot CEO Mike Waterbury. “It’s simply not sustainable that healthcare costs to employers should continue to increase 5 percent or more every year. CoeoRx reverses this trend by offering more choices and the leverage of our network that generates savings companies can reinvest in their business and team.”
For more information visit www.coeorx.com.