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Benefit Sponsors

BidRx Services for Benefit Sponsors

Cut Costs and Improve Benefit Education through BidRx

Use the competitive marketplace to lower drug costs

BidRx promotes competition. The underlying principle of BidRx is competition. First, we present tables of similar drugs so consumers and prescribers have the information they need at the point-of-decision (POD) to make excellent decisions, whether economic or clinical. Second, after the best drugs are selected, consumers can define the service area where pharmacies can compete for their prescriptions. Decisions are made by prescribers and consumers -- after they have full information on price, value, service, convenience and other factors of importance. We inform, they choose.

As a bridge to the current paradigm, pharmacies agree to a BidRx maximum price that is comparable to prices available today. Thereafter, competition takes over. As a benefit sponsor, you won't pay any more than the BidRx maximum price and it is very likely that you will pay less.

Let the competitive marketplace work for you and use BidRx.

Keep plan benefits simple so members understand

With BidRx, members get benefit information at the point-of-decision -- and, it's simple, not complex. It's dollars and cents, mostly. Think about these tools and terms used in the current drug plan paradigm:

These design features are difficult for members to understand because they inject unfamiliar terms like formulary, tiers, PA, etc.

BidRx translates each benefit feature to dollars and cents. We don't need to use "terms" -- because we show cost consequences of members' choices -- when needed -- at the point-of-decision. The BidRx solutions are different:

Use the power of BidRx to manage your drug benefit using the simple tool that every member understands: dollars and cents. Keep it simple. It's only available through BidRx because consumers know their cost at the point-of-decision when it's relevant, timely, and actionable.

Members make prudent purchases when given the information they need at the right time

Consider the Similar Product Price Comparison Report that is available on BidRx. When drug A, B, and C produce similar benefits when used by members, sponsors can limit their payment contribution to the cost of the least expensive drug -- and, if members and/or prescribers choose a more expensive drug, members' co-payments vary, not sponsors' contributions. That's alignment of interests. That's an example of consequence based on choice that members can understand. That's reality.

When members have the right information at the right time -- and they know the consequences of their actions -- they make better decisions. By adding one more element, alignment of members' and sponsors' interests, benefit sponsors have assurance that members will make choices that are prudent for both parties.

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