OSHKOSH, WISC. -- January 24, 2008 -- BidRx.com, the Internet supermarket for prescription medications, today announced reaching the milestone of more than 40,000 members. The competitive electronic marketplace (CEM®), launched in 2006, is proving to be an accepted solution for the rising costs of prescription medications by first creating transparent, head-to-head competition between pharmaceutical companies. Second, BidRx® creates competition between pharmacies.
BidRx.com was developed by Drs. Ralph Kalies and Tom Kellenberger, both healthcare industry veterans and pharmacists, with the mission to connect consumers and prescribers with pharmacies, pharmaceutical companies, and benefit sponsors and empower them to make better, more cost-effective prescription and service purchasing decisions.
Since its launch, BidRx.com also has been recognized by employers, government agencies, unions and other benefit sponsors as a reliable provider of head-to-head competition for name-brand and generic medications that produces significant savings for their prescription benefits.
"BidRx® is the solution for an antiquated purchasing paradigm that has led to unsustainable increases in cost," said Tom Kellenberger, Pharm.D., vice president of BidRx, LLC. "Competition thrives at www.BidRx.com and, as a result, consumers save money through our electronic marketplace. Consumers and their doctors can shop and compare prescription products and get instant bids from local and mail order pharmacies before they buy."
We're finding many advantages for employers and Medicare Part D subscribers as well, added Kellenberger. "We've trained more than 270 employer groups to take advantage of lower prices, and we built user-friendly options and toll free assistance to help individuals struggling with Internet technology."
Members of Medicare Part D and Consumer Directed Healthplans (CDH) are responsible for a substantial portion of their prescription costs. BidRx.com is the on-line, actionable tool that shows similar prescriptions from competing pharmaceutical companies, gets instant bids from competing pharmacies and delivers the savings.
"We consider BidRx.com to be a disruptive technology in the healthcare industry," said BidRx® CEO Ralph Kalies. "BidRx.com changes an industry that is inefficient, unfathomable to most people, costly, and has unsustainable and unnecessary cost increases year over year."
"BidRx.com is leading the rebirth of an industry that currently consumes 16 percent of our gross domestic product (GDP)," added Kalies. "Unchecked, these costs could rise to 20 percent or more in a few years. We're pioneering remarkable competition and substantial cost savings through BidRx®. That's disruptive — and laudable!"
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.