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Healthy Competition For Prescriptions

BidRx® is a marketplace for prescriptions where head-to-head competition from pharmaceutical companies and pharmacies delivers real savings for consumers.

OSHKOSH, WISC. -- January 2, 2008 -- The current way we purchase prescriptions is fueling unsustainable increases in costs. Consumers get a prescription from their doctor and take it to the pharmacy. We know enough to ask for a generic, but that's all, and whether a generic or brand is dispensed, we pay the price the pharmacy charges. And then we complain because prescription prices are exorbitant. At the same time we see revenues and profits for pharmaceutical companies, pharmacy chains, health insurers and pharmaceutical benefit managers (PBMs) rise and rise again, year after year. It is apparent that the current purchasing paradigm does not work for consumers but it works well for big business. A new way to purchase prescriptions is needed.

A new way is available now at www.BidRx.com. It's a totally new paradigm based on head-to-head competition by pharmaceutical companies and pharmacies. Imagine that consumers and prescribers learn about all similar prescription products and prices to treat a condition before a final prescription is written. The result is that prescribers choose more cost-effective therapies and consumers & payers save money. Also imagine that consumers get bids from competing pharmacies for filling their prescriptions and providing required services before a pharmacy is chosen. The result is that consumers choose pharmacies that meet their needs, get better services & save money.

BidRx® is the solution for an antiquated purchasing paradigm that has led to unsustainable increases in cost. BidRx.com is a real marketplace for prescriptions where competition thrives and consumers save money. At the core of BidRx® is healthy competition through an electronic marketplace where consumers and their doctors shop and compare prescription products and pharmacies before they buy. Some call it the eBay® for prescriptions; others liken it to Travelocity®, Orbitz® or Expedia®. BidRx.com is really a unique solution for healthcare made possible because consumers are comfortable using the internet to shop, compare, and buy.

The first step in the BidRx.com marketplace is to learn about treatment options. When a prescription is entered into BidRx.com, a report is produced that shows similar products and their prices. With this information, doctors and their patients can find the best medicines and best value for successful treatment. Head-to-head competition from pharmaceutical companies is the first step to relieve consumer frustration and save money on prescription purchases.

The second step on BidRx.com is to get instant bids from pharmacies so prices, services, and other factors can be compared before a purchase is made. BidRx® shows all competing pharmacies so relevant distinctions among pharmacies are visible and understandable. Consumers choose the pharmacy they prefer, but with information available on BidRx.com they can choose the pharmacy with the best services at the best prices. Head-to-head competition from pharmacies is the second step to relieve consumer frustration, raise service levels, and save money.

All the ineffective tools used in the current prescription purchasing paradigm to deliver complexity, frustration, and inefficiency, but not cost reduction, can be eliminated in favor of healthy, transparent competition. Armed with the resources at BidRx.com, consumers and health care providers can make informed, money-saving decisions. BidRx® creates the same functional, familiar, and money-saving marketplace that consumers and employers enjoy for other products and services they buy.

Prescription and pharmacy choices are personal. BidRx® promotes informed, personal choice which can only happen in an open, transparent, competitive marketplace. Healthy competition through BidRx.com is good for all consumers. It works.

BidRx, LLC, based in Oshkosh, Wisc., connects consumers and prescribers with pharmacies, manufacturers, and benefit sponsors to empower them to make better, more cost-effective drug and service purchasing decisions. Visit www.BidRx.com to learn more.

Press Contact
Tom Kellenberger
920-230-6200
PublicRelations@bidrx.com

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