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BidRx.com provides solution for rising drug prices

December 7, 2015 - Oshkosh, WI - BidRx, developer of an online, competitive marketplace for prescription medication, has the solution for ever-rising drug prices: a consumer driven alternative to the current system which relies heavily on Pharmacy Benefit Managers (PBMs).

BidRx.com was introduced by Drs. Ralph Kalies and Tom Kellenberger, both healthcare industry veterans and pharmacists. Their mission is to connect consumers, advocates, prescribers, and benefit sponsors with pharmacies and pharmaceutical companies through a unified, interoperable system.

A recent Congressional Hearing highlighted the flaws in the PBM model which is "contributing to soaring drug prices and trampling independent pharmacies." The lawmakers "singled out the three major players - Express Scripts Holding Co., CVS Health Corp, and UnitedHealth Group Inc.'s OptumRx division - for wielding too much power."

PBMs contribute to rising drug prices by limiting open, transparent, and level competition among drug manufacturers. Some products & manufacturers are excluded as leverage for discounts/rebates that aren't always passed on to customers. Furthermore, exclusive contracts that last for years interfere with competitive, price-lowering forces that naturally would occur.

BidRx guarantees competition among FDA approved similar medications from all drug manufacturers. Similar drug products, forms and strengths are made available on the site so the health care team can evaluate and choose the best medication for each patient. Manufacturers can show discounts/rebates (coupons) transparently and change prices to better compete in a dynamic marketplace.

Only at www.BidRx.com does head-to-head, dynamic competition among manufacturers allow the health care team and consumers to compare current costs and value at the precise time when appropriate treatments are required to produce desired outcomes.

"BidRx® is the solution for an antiquated PBM purchasing paradigm that has contributed to unsustainable increases in cost," said Dr. Kalies, CEO of BidRx "Competition thrives on our website and, as a result, benefit sponsors and consumers save money through our dynamic, electronic marketplace using consumer driven pricing. Consumers and their doctors can shop and compare similar medications from competing manufacturers and get instant bids from local and mail order pharmacies before they buy."

PBMs also trample independent pharmacies by limiting open, transparent and level competition among them for prescription fulfillment and accompanying services like delivery and counseling. Requiring only one pharmacy (often the PBM-owned or contracted mail-order pharmacy) for fulfillment of maintenance prescriptions when prices are hidden can lead to price-gouging.

"Only at BidRx does head-to-head competition among pharmacies for all prescriptions in a dynamic and transparent electronic marketplace allow consumers to compare services, costs and value at just the right time for choosing the preferred pharmacy." said Dr. Kellenberger.

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