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The ELECT Rx Strategy
By applying the right strategy to just 1-2% of your claims, you can reduce your drug spend by 15-55%
Click any of our strategies below to learn how.
Optimization of Discounts +++
Direct acquisition model and optimization of all manufacturer discounts: Specialty drugs have become a profit center for your PBM. Your PBM makes money off of every specialty drug dispensed and usually has a “preferred” arrangement with a Specialty Pharmacy that also profits off of every specialty medication paid for by your plan.
ELECT Rx has unique arrangements with several manufacturers of specialty drugs that allow us to sell drugs directly to payers at our acquisition cost and include special incentives available to your members and our organization.
Optimization of Rebates +++
No matter what your contract says, rebates still serve as a large percentage of profit for PBMS and Specialty pharmacies. Under an ELECT Rx situation, we fully disclose and return all rebates and other manufacturer revenue directly to you, which on average is about 30% higher than what most groups receive prior to carving out specialty.
Personal Imporation Optimization +++
Many specialty drugs and high cost branded medications, such as biologics and insulin can be purchased directly from licensed pharmacies in Canada at a substantial discount. This can be a very effective strategy to lower the cost of these medications for both the payer and the employee. We have done extensive research on the subject, and are willing to provide our opinion if personal importation is an option you are considering.
340b Optimization +++
The 340B is an essential piece of funding for FCHC’s and DSH hospitals. There is a way that you can actually reduce your drug costs and help your local hospital through optimizing the 340B program. This does require the cooperation of a local 340B entity that we can assist with.
Combined, or individually, these are powerful and simple techniques that can be deployed today to reduce your costs.
Insulin and Cold Chain Medications +++
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ELECT Rx is good for your organization, and great for your employees!
Dial (855) ELECTRx
Doctor & Customer Approved
Trusted By Thousands Of Customers
The implementation of the ELECT Rx program has shown Grant County immediate cost savings results for our employees and our county. The program also boosted employee morale as they are grateful this program has been presented as an option by the Grant County Commissioners.
Our Generic Utilization Rate increased to over 80% and the personal importation program has been well received. I enthusiastically endorse this program and the professionals that work with it.
I want to thank you for your help in getting my prescriptions straightened out and saving me approximately $720 a year through the personal importation program. I now realize how valuable your company can be to our members.