Press Releases

RxAdvance Unveils its Comprehensive PBM Services

Southborough, MA – June 1, 2015 – RxAdvance – an AHIP Select Member is unveiling its comprehensive PBM services that leverages the Collaborative PBM Cloud™ for payers breaking decades old traditional paradigms in the PBM industry at AHIP Institute 2015 in Nashville, TN

Boston based RxAdvance is an innovative national full service Pharmacy Benefit Management (PBM) company created specifically for the future of healthcare to reduce overall pharmacy costs and avoidable drug-impacted medical costs leveraging disruptive Collaborative PBM Cloud™ platform unveiling for the first time on June 3rd through June 5th at AHIP Institute 2015 in Nashville, TN.

Please stop by booth #803 to learn more about how RxAdvance fully transparent PBM services that can reduce payer overall pharmacy costs. In addition, learn how RxAdvance’s PBM services lead to less administrative fees, reduced drug unit costs, increased rebate income, and a reduction in overall avoidable drug-impacted medical spend to payers. These benefits are accomplished in part by providing actionable intelligence at the point of care, point of sale, and proactive member and payer clinical/pharmacy staff engagement collaboratively.

RxAdvance’s tailored, world-class services are for all plan sponsors – payers, accountable care organizations (ACOs), exchanges, state Medicaid programs, and employer groups.

In addition to exhibiting their game changing PBM services, RxAdvance will be hosting several informative and educational sessions, exclusive by invitation only VIP events, and a chance to win a brand new 2015 Mercedes car or winner can donate equivalent cash to a charity of winner’s choice in the name of the winner. There will also be fun activities available to take advantage of in their booth during the day and during the various scheduled breaks, some of which include award winning local TN based craft beers and delicious Hors d’oeuvres and healthy snacks in booth #803.

Agenda of RxAdvance’s sponsored events are as follows:

Educational Session #1:
When: June 3rd, Wednesday, 3:15 PM – 4:00 PM
Where: Institute 2015 Pre-conference Cybersecurity, Technology and Infrastructure Advancements Forum
What: Optimize PBM Value Proposition to Payers through Disruptive Innovation by Terry Ramey, EVP, Business Development and Client Engagement
Session Details: PBMs that manage over $300 billion of pharmacy benefits for plan sponsors have historically been challenged to support plan sponsors’ goals to reduce avoidable drug-impacted medical costs and optimize overall pharmacy costs. Fragmented, antiquated, and inflexible legacy platforms continue to plague PBM infrastructures resulting in the inability of PBMs to support the optimization of drug benefit management and efficiently operate in an increasingly regulated industry. The ability to reduce overall healthcare costs by leveraging innovative, compliant, and holistic PBM solutions is one of the biggest opportunities that exist for plan sponsors. During this session attendees will learn how a PBM can deliver significant value to plan sponsors by leveraging an enterprise-wide, agile, and collaborative cloud platform through seamless integration with plan sponsors’ enterprise architecture.

Educational Session #2:
When: June 3rd, Wednesday, 6:00 PM – 6:30 PM
Where: Exhibit Hall: RxAdvance booth # 803
What: Disruptive PBM Paradigm to Control Costs and Improve Quality & Compliance by Carlos O. Hernandez, MD, MS, FACP President, WellMed Medical Group
Session Details: For decades, the PBM industry has perpetuated a status quo of providing administrative and limited clinical services. Attendees will learn through case studies how a PBM can engage all care stakeholders collaboratively-prescribers at the point of care (PoC), pharmacists at the point of sale (PoS), patients, and payers’ clinical/pharmacy staff to reduce overall pharmacy costs and avoidable drug – impacted medical costs while improving compliance and patients’ quality of life. Such a collaborative solution also lowers PBM’s operating costs by 40% leading to lower administrative fees, reduced drug unit costs, and increased rebate income to plan sponsors.

Exclusive VIP Event #1:
When: June 3rd, Wednesday, 7:00 PM – 9:00 PM
Where: AHIP Institute 2015
What: RxAdvance sponsored VIP Seating @ Opening Night Concert by Martina McBride, CMA/ACM Award-winning Country Music Recording Artist
Details: Please see one of the AHIP staff at 6:45 in the AHIP Select Lounge which is located at the base of the escalator on the third level along with your wristb and to be seated in the RxAdvance sponsored VIP seating area.

Exclusive VIP Event #2:
When: June 3rd, Wednesday, 9:00 PM – 11:00 PM
Where: Omni Hotel 4th Floor, Acoustic Room
What: RxAdvance sponsored After Concert Dinner Drinks

Educational Session #3:
When: June 4th,Thursday, 2:00 PM – 2:45 PM
Where: Sponsored Concurrent Session
What: Disruptive PBM Paradigm to Control Costs and Improve Quality & Compliance by Carlos O. Hernandez, MD, MS, FACP President, WellMed Medical Group
Session Details: For decades, the PBM industry has perpetuated a status quo of providing administrative and limited clinical services. Attendees will learn through case studies how a PBM can engage all care stakeholders collaboratively – prescribers at the point of care (PoC), pharmacists at the point of sale (PoS), patients, and payers’ clinical/pharmacy staff to reduce overall pharmacy costs and avoidable drug-impacted medical costs while improving compliance and patients’ quality of life. Such a collaborative solution also lowers PBM’s operating costs by 40% leading to lower administrative fees, reduced drug unit costs, and increased rebate income to plan sponsors.

Educational Session #4:
When: June 4th, Thursday, 6:00 PM – 6:30 PM
Where: Exhibit Hall: RxAdvance booth # 803
What: Disruptive PBM Paradigm to Control Costs and Improve Quality & Compliance by Carlos O. Hernandez, MD, MS, FACP President, WellMed Medical Group
Session Details: For decades, the PBM industry has perpetuated a status quo of providing administrative and limited clinical services. Attendees will learn through case studies how a PBM can engage all care stakeholders collaboratively – prescribers at the point of care (PoC), pharmacists at the point of sale (PoS), patients, and payers’ clinical/pharmacy staff to reduce overall pharmacy costs and avoidable drug-impacted medical costs while improving compliance and patients’ quality of life. Such a collaborative solution also lowers PBM’s operating costs by 40% leading to lower administrative fees, reduced drug unit costs, and increased rebate income to plan sponsors.

Give-a-Way Event:
When: June 4th, Thursday, @ 6:45 PM
Where: Exhibit Hall RxAdvance booth # 803
What: Mercedes car or winner can donate to the charity of winner’s choice in the name of winner.
Details: Winner will be chosen by random drawing. If the winner cannot accept the car they will have a choice of donating the equivalent value to a recommended charity or charity of winner’s choice in the name of the winner.
About RxAdvance
RxAdvance is a national full service PBM (Pharmacy Benefit Manager), bringing superior clinical, pharmacy, and financial outcomes to plan sponsors through Collaborative PBM Cloud™. Built on a unified data model and clinical intelligence, RxAdvance’s PBM standard services include Benefit and Formulary Design, Claims Processing, Customer Support Services, Retail Pharmacy Network Management, Clinical Services, and Rebate Management. Our market differentiation includes Drug Utilization Review at Point of Care (PoC) and Point of Sale (PoS), Medication Therapy Management (MTM), Medication Adherence Management (MAM), Donut Hole Prediction and Prescription Planner, Optimize Untapped Generics Usage, Prevent Adverse Drug Effects, Fraud, Waste and Abuse Management, Advanced Analytics and Cost Management, and Effective Specialty Pharmacy Management. RxAdvance enables real – time actionable communication between prescriber, pharmacist, patient, and payer. Our best in class People, Process and Technology are aligned to support all plan sponsors — health plans, Accountable Care Organizations (ACOs), State Medicaid programs, employer groups, and unions. We provide contractually guaranteed savings in administrative costs, ingredient unit costs, and rebate revenues. For more information, visit www.rxadvance.com.