"BidRx® is the solution to frequent calls for a market where providers truly compete with each other for consumers and patients," says Ralph Kalies, CEO of BidRx, LLC. "Our patented business model fundamentally changes the way purchasing decisions are made. Users get head-to-head competition from pharmaceutical companies and from pharmacies. After comparing same and similar prescription medications and costs on BidRx.com, doctors and patients determine which medications are the best value, find even lower prices by getting competitive bids from local and mail order pharmacies, and then choose the provider that best meets price and service needs." Available across the U.S., consumers can go to www.BidRx.com and use the power of a Competitive Electronic Marketplace (CEM™) to lower drug costs.
BidRx® is confident that its patented business process can help lead to new approaches for cost reductions in healthcare. One example may be "Insurance Exchanges" required under the Accountable Care Act (ACA) to be operational in 2014. As currently designed, consumers will see posted prices, compare coverages and enroll in in a program that meets their needs. A logical next step for exchanges is an interoperable marketplace where interested buyers and sellers - each through a private and secure portal of entry - engage in interactive commerce. In this era of transparent competition on the Internet, BidRx® believes that prices for insurance or benefit plans can be fluid, not static, according to supply and demand dynamics. This can open another new growth opportunity for its business process.
About BidRx, LLC
Since 2007, BidRx® has been available for benefit sponsors that want a transparent and competitive drug marketplace to replace or supplement their traditional Pharmacy Benefit Manager (PBM). Businesses that offer High Deductible Consumer Directed Health Plans, co-insurance or multi-tiered copayment benefits need BidRx® so members see actual prices and benefit coverage for all drugs and are able to discuss cost-conscious solutions with their doctors. The results are better prescribing and purchasing decisions. Although most efficiently accessed in doctors' offices before prescriptions are written, BidRx.com can be used at any time and place to save money.
Because of BidRx®, consumers regain control of purchases because they finally know prices for same and similar products and services from competing sellers (pharmaceutical manufacturers and pharmacies) before they make decisions. Buyers win because drug costs easily can be cut in half. Sellers win because efficiency and excellence are rewarded with increased sales.
For more information, visit www.BidRx.com or contact BidRx® at 920-230-6200.Press Release as a PDF document