Express Scripts, Inc. (Nasdaq: ESRX) is one of the largest pharmacy benefit management (PBM) companies in North America, providing PBM services to over 55 million patients through facilities in 13 states and Canada. Express Scripts is also one of the top three pharmacy benefit companies in the nation, providing TPAA members a transparent pricing arrangement which is available to the member’s self-funded employer groups of all sizes.
As drug costs continue to rise, there are hundreds of new drugs and updated versions of drugs in the pharmaceutical manufacturer pipeline. Since new generations of drugs are rarely less expensive and utilization by members continues to increase, a close watch must be maintained to keep costs in check. As most are aware, the PBM industry is under terrific scrutiny regarding costs, pricing methodology, margins and measurement of actual savings. Jennifer Kingsley Wilson, CEO of ARMSRx, the pharmacy benefits consulting firm that set up the program for the TPAA, comments that “the program has been so well received in the marketplace that other PBM vendors would be wise to offer comparable transparent financial components and aggressive performance guarantees.”
“We’re thrilled to have an industry leader like Express Scripts working with our members,” says Peggy Wolford, vice president of business development for the TPAA. Wolford believes the synergies between all organizations involved will prove to deliver high-quality service and demonstrated cost savings. “We are excited to bring substance and a tangible program to our membership.”
Express Scripts serves thousands of client groups, including managed-care organizations, insurance carriers, third-party administrators, employers and union-sponsored benefit plans. Express Scripts is headquartered in St. Louis, Missouri. More information can be found at http://www.express-scripts.com. |