Save on Name-Brand Meds with Rx Program
The cost of name-brand medications is increasing at a rate of 13% with American consumers paying up to 16 times more than other countries for the same exact prescription drug. An international prescription program can save employers anywhere from 30% to 90% on name-brand medicines.
At Wilson & Co., we are able to source medications internationally through four “tier-one” countries for the same name brands at significantly lower costs for employers. Congress deems a “tier one” country to have the same or higher standards as the FDA. We only source name brands through Canada, United Kingdom, Australia, and New Zealand – all English-speaking countries that negotiate directly with the pharmaceutical manufacturers.
For example, take a look at the drug Nexium, which costs health plans over $8.00 per pill domestically. Overseas the cost is about $2.00 per bill. That’s a 80% savings!
How do you know these name-brand medications are safe?
Our international pharmacy management firm has been sourcing meds internationally for employers for over 14-plus years without incident.
- All meds are factory packaged and sealed
- Only FDA-approved meds are shipped
- Up to a 90-day supply will be shipped
- No sourcing of heat or cold sensitive meds
- No sourcing of narcotics
- Members need to have a 30-day supply of meds on hand when establishing an account
- It takes about 3 weeks to set up an account
- Members will be contacted on a quarterly basis for reorders
- All pharmacies have been inspected and have licensed pharmacists on site
- The pedigree of all meds can be tracked
Features & Benefits:
- $0 Rx Copay for maintenance name-brand meds
- 60-70% savings average employer savings
- 90-day supply mail order program shipped directly to members’ homes
- Comprehensive employee engagement and education
- Concierge customer service – responsive to employee needs and inquiries
We Go to Market for Your Specialty Meds for Competitive Pricing
Specialty meds are defined as medications with high costs for a course of treatment or a year of therapy. Some health plans also categorize drugs as specialty if they are novel therapies; require special handling, monitoring, or administration; or are used to treat rare conditions. The estimated price tag for a specialty drug for some chronic conditions, for example, can exceed $100,000* for a year of treatment.
Add to this, the fact that there is significant disparity in medication prices between one Specialty Pharmacy and another, in addition to the conflict of interest that exists when your pharmacy benefit manager (PBM) provides Prior Authorization as well as sources medications through their own Specialty Pharmacy, and you can see why costs are so out of control. Unfortunately, as an employer you may not be aware of how much you are even being charged.
In addition to the staggering costs of these drugs, research shows that when people are hit with higher drug costs, they are more likely to take unhealthy measures such as skipping doctor appointments, tests, or procedures, or not filling their prescriptions or taking them as directed.
Managing Specialty Drug Costs
To deal with the high cost of specialty meds, Wilson & Co. offers a Specialty Med Review Program whereby we will shop over a dozen of the nation’s most competitive Specialty Pharmacies for them to bid on your business. The savings can be thousands, even tens of thousands, for a single script.
What’s more, a team of doctors and pharmacists provide independent, unbiased Prior Authorization to ensure that the medications being prescribed are clinically appropriate.
100% of manufacturer rebates are also provided to the employer.
*The Pew Charitable Trusts
Lower Prescription Drug Costs
There are few expenses rising faster for Americans than the cost of prescription drugs. In fact, prescription drug prices are the biggest reason for the rise in overall health care costs. Take a look an average family of four, which spent $24,671 for health care in 2015. This represents a 6.3% increase, according to the 2015 Milliman Medical Index, which underscores the rise in prescription drug prices as the biggest reason for the increase in health care spend, a category that grew by 13.6% from 2014 to 2015.
One solution to help make meds available and affordable is by tapping into manufacturer assistance programs. Every year, pharmaceutical manufacturers give away billions of dollars of name-brand medications, typically those meds that qualify as maintenance drugs. Wilson & Co. can help members of your health plan take advantage of these programs.
While each manufacturer has different criteria to qualify for their assistance program, a household of four earning a $120,000 or less can typically qualify for many name-brand medications at a lower cost. Medications can be shipped directly to an employer’s house, picked up at the pharmacy, or depending on the medication, at the doctor’s office.
- PBM plan design to allow for manufacturer assistance
- $0 Rx Copay for specialty medications
- 100% employer savings
- Preferred PBM partners
A Transparent Approach to Your Prescription Drug Plan
At Wilson & Co., we are passionate about helping employers reduce the cost of their health care plan while also improving benefits. This involves gaining control over prescription drug costs, which today represents one-fourth of health care spend, and providing employees with greater access to affordable prescription medications. We have a coordinated approach with several programs designed to reduce the cost for employers and their employees.
Integral to our programs is engaging and educating employees about the benefits of each program and how they work, and what make sense for them. To facilitate the process, we provide a portfolio of “concierge” prescription advocacy services.
Our prescription advocates have tremendous expertise and work closely with:
- Prescription Manufacturers
- Pharmacy Management Companies
- Foundations and Philanthropic Organizations
- Prescription Benefit Managers
- Private Rx Plans
We manage the whole process of procuring medications to:
- Determine which program best fits the individual’s needs
- Collect prescriptions from physician’s office
- Complete and submit required paperwork
- Prepare and submit ongoing paperwork