Pharmacy Costs Continue to Rise with no signs of slowing down!

  • CMS is projecting an 86% increase in their annual pharmacy spend by 2020
  • CDC Reports
    – 48.5% of persons using at least one prescription a month
    – 27.7% of persons using 3 or more prescriptions a month
    – 10.6% of persons using 5 or more prescriptions a month
    – 15.5 million people enrolled in HSAs and High Deductible Plans in January, 2013. That is an INCREASE of 2 million people in only one year.  Thus employees are taking on an even higher burden of these rising costs.

The current Solutions are not working: i.e. formulary plans, PBMs, mail order programs, rebates, etc.

Relevant Healthcare is poised to revolutionize various areas of healthcare.  When it comes to pharmacy costs, Relevant provides a significant cost savings tool that focuses on EDUCATING, MOTIVATING, and EMPOWERING members and payers of prescription drugs to SAVE MONEY (upwards of 44% to members and over 20% overall to the Plan).

Our Pharmacy Price Transparency Tool offers employers an advocate and aligns with them to dramatically reduce their pharmacy spend. This is accomplished using transparency software to educate and engage your employees. By using our service to educate employees on savings opportunities, employers offer a benefit and empower employees with information, saving both parties money.   Our program measures success based on hard numbers and the raw data feeds we get from our payer clients.  Therefore we can quantify results based on actions taken and deliver savings measured in real dollars.  This allows employers to track our value and return on investment.

Relevant Healthcare’s tool will proactively educate your employees and members with a personalized action plan to save them (and you) money.  This proactive reach-out to membership is done via the use of email and text messaging where your employees are directly engaged to take charge of their healthcare spend.

A sample text sent directly to the phone of a member could read:

  • “A savings opportunity of $562.83 has been identified by Relevant Healthcare.  Login to your account to learn more!”

On average, employers are overspending by 22% and historical data has shown that payers save an average of 5-6 times what their employees save.  So, for every $1 in out-of-pocket savings to the members translates into $5-$6 in savings to the Plan.

FAQ

Who is eligible for Relevant Healthcare’ service?
All health plan members are eligible for Relevant Healthcare’ service.

How does a member register for this service?
Members register their account by going to the dedicated website and entering in their last name, date of birth and SSN.  Once registered, members may request a review of their medications or they will be registered to receive proactive savings alerts on their mobile phones and/or emails.

How did Relevant Healthcare get the member’s information?
Relevant Healthcare receives member information from the health plan and their vendors.  Relevant Healthcare is a benefit to all eligible participants and their spouses/dependents to advocate and coach them on methods to save on their prescription drugs.  They have a team of pharmacists that search for ways to save and sends alerts to the members regarding those opportunities.

How is member information used?
Relevant Healthcare only uses members’ information (demographic identifiers, prescription data, etc.) to find savings opportunities.  We do not sell member information or release any prescription-related information to the health plan.  The employer does not see any prescription-related information.  To further know how Relevant Healthcare handles member information, please contact us at 855-328-5100.

How do I save money?
Once your member receives a text or email alert from Relevant Healthcare, they log into their account and look for the personalized report in the “Reports” section of the member’s personalized account.  A member can then download and print this guide complete with details on what savings were identified and step-by-step instructions on how to take advantage of that savings.  For every $1 you save your membership, the plan sponsor saves ~ $6!

Who do I contact with questions?
Should a member have any questions regarding his/her savings report, dedicated team members and numbers will be supplied to the Plan Sponsor and the members to address any questions.

How do I know Relevant Healthcare has my employees’ best interests in mind?
Relevant Healthcare is passionate about saving their clients and their members’ money.  We have spent many hours researching creative ways to save and want to deliver that information to you.  Relevant Healthcare will only deliver savings opportunities to members where real savings is possible.  We ask members to always consult their physician, as we (and our registered pharmacist who supports this product) do not seek to replace members’ relationships with their physicians or pharmacists. We recommend members consider what we suggest because it will financially benefit them, and the plan, and is sound advice from a pharmacist.

How does it work?
Relevant Healthcare will alert your members via email and/or text message when they find a savings opportunity.  Upon receiving the alert, the member will log into his/her account and download a personalized report with step-by-step instructions on how to achieve savings.  Everything they need to secure the savings is included in the personalized report.  A member may also log into his/her account and manually enter prescription details and associated costs to receive a personalized report.

Why do members need to provide you with their email and mobile phone?
To maximize the methods by which we can contact your members about their savings opportunities, we ask that members register their email and mobile phone numbers.  Relevant Healthcare will only text message members if there is an opportunity for them to save.  We respect their privacy and will not contact any members unless they are able to save.

How much will the members save?  How much will the plan save?
On average, we identify upwards of 44% in out-of-pocket savings for the members which equates to an average of 22% in overall savings to the plan.  Savings analyses have reached as high as 38% for overall Plan savings.  For every $1 saved by a member, the plan will recognize as much as $5-$6 in savings.