SmithRx

Are you unknowingly paying more for your PBM services? We've unmasked four sneaky tactics legacy PBMs will use to obscure their true costs. It's like playing a high-stakes shell game with your healthcare budget. From hidden fees to complex spread mechanisms, these strategies impact your bottom line. In contrast, SmithRx's transparent pricing model offers a simpler, more cost-effective alternative. Discover how a modern PBM approach can lead to substantial savings: https://lnkd.in/gtMTbKrR #PBM #healthcarecosts #prescriptiondrugs #benefitsbroker

Experienced brokers know the value of reinforcing basics. 📚   Sharpen your Pharmacy Benefit Manager knowledge with our comprehensive overview! We cover everything from foundational concepts to cutting-edge innovations, helping you refine your expertise. 👇 For a complete exploration of PBM intricacies, see our full report here: https://lnkd.in/gWxyRF9w #employeebenefits #healthcarebrokers #prescriptiondrugs #benefitsmanagement

"Spread pricing" is a controversial practice in the PBM industry that directly affects healthcare costs. Many legacy PBMs use this subtle tactic, which often flies under the radar but can have major financial impacts. This blog post cuts through the jargon to explain exactly what spread pricing is, how it works, and why it matters! Learn how this practice might be affecting your client's healthcare costs. Get the full breakdown here: 🔗 https://lnkd.in/g3SXYEPc #healthcarecosts #PBM #spreadpricing #pharmacybenefits #SmithRx

Learn why employers are switching to SmithRx, a modern PBM breaking industry norms. From innovative cost-containment solutions to competitive benefits packages that attract and retain talent, brokers, and employers are seeing real results by partnering with us! Many thanks to Sam Wonderling, Healthcare & Benefits Advisor at Lacher, Ryan Davis, Partner at Renewal, and Rena Cater, VP of HR at Eagle Transport Corporation, for sharing their expert advice with fellow brokers and HR leaders! If you're ready to revolutionize your pharmacy benefits, we're prepared to deliver. 👉 www.smithrx.com #PBM #employeebenefits #healthcarecosts #hr #SmithRx

Brokers, your clients rely on you to navigate the intricate world of prescription drug coverage. One of our newest posts breaks down open and closed formularies without the fluff, offering a comprehensive yet accessible analysis that will sharpen your expertise. We explain how PBMs leverage these tools to balance care and costs, giving you insights to deliver real value in your next client meeting. Choosing the right formulary approach for different employer needs is easy when you know how to select it. 👉 https://lnkd.in/gyAS7RDz #PBMformulary #employeebenefits #prescriptiondrugs #brokerresources #healthcaresolutions #SmithRx

Mark Cuban Cost Plus Drug Company, PBC, and SmithRx teamed up in 2023, and our enthusiasm for this collaboration remains as strong as ever. Mark’s recent feature on The Daily Show highlights our shared mission to transform healthcare. Our collaboration brings Cost Plus Drugs into the SmithRx network, offering members access to lower-cost medications with full transparency and no hidden fees. We're proud to work with Cost Plus Drugs to change prescription drug affordability. Here's to making healthcare more transparent and accessible! #healthcare #transparency #affordablemedications #SmithRx #CostPlusDrugs

We initially reported SmithRx's price for teriflunomide (90-day supply) as $376.30. Exciting news: The correct price is $33.40! 🎉 That's a 91% reduction from the originally reported price and an even more dramatic difference compared to J&J's pricing. Benefits brokers, this is SmithRx in action. We're committed to transparency and continually driving down healthcare costs. Learn more about the modern PBM movement at www.smithrx.com

We've discussed legacy PBMs being a major factor in rising prescription drug costs, particularly through their misuse of the rebate system. This issue plaguing the healthcare system is unequivocally illustrated in a recent NYT article by Rebecca Robbins and Reed Abelson. The article reveals how advertised drug prices often don't reflect final costs due to legacy PBMs negotiating large discounts with drug makers. Ironically, this process can drive up costs. Higher initial prices enable larger discounts, which increase profits for these middlemen. This occurs even when discounted brand-name drugs still cost more than generic alternatives. Some employers don’t realize that, while post-rebate savings look impactful, they often come with increases in out-of-pocket expenses for patients. While legacy PBMs claim they're following client preferences, this complex rebate system continues to fuel rising prescription drug costs. Read the full The New York Times article to understand how PBM rebates impact drug costs, then explore how SmithRx is revolutionizing the PBM model for true transparency and savings. 🤝 https://lnkd.in/g6-snxFB #PBMs #prescriptiondrugs #NYT #drugpricing #healthcare #employerbenefits #healthtech #SmithRx

Finding a partner who can consistently deliver savings is crucial. Bart Trulock and Donna Bernados from Paladin HIB Advisors have experienced firsthand the value of working with a modern PBM. They share how SmithRx has been a true partner in helping them save significant client costs through innovative solutions, transparency, and proactive member support. Learn how we can make a great difference for your business and your clients' healthcare costs. www.smithrx.com #healthcare #employeebenefits #healthcaremanagement #healthinsurance #PBM #SmithRx

It's your last chance to register for our crucial webinar on GLP-1 medications tomorrow, August 8th. Learn how to manage rising costs and supply shortages of these popular diabetes and weight management drugs. SmithRx Clinical experts Alissa Johnson, PharmD, MBA, BCPS, and Dustin Wagstaff PharmD, BCPS will provide essential insights for employers and brokers in just 30 minutes! 💺 Save your seat: https://lnkd.in/gaPPcMWE 🗓 Thursday, August 8, 2024, at 8am PT/11am ET #employerbenefits #healthcare #GLP1 #webinar #SmithRx