NEW YORK–(BUSINESS WIRE)–Capital Rx, the fastest-growing pharmacy benefit manager (“PBM”) in the U.S., announced today it is joining forces with Walmart to bring transparency of unit prices across specialty and mail order prescriptions through its Clearinghouse ModelSM in order to combat rising cost of prescription drugs. Capital Rx’s Clearinghouse Model is a new technology-driven pricing framework that eliminates arbitrary drug costs by connecting buyers (plan sponsors) and sellers (pharmacies) and providing real time pricing for all drugs. Capital Rx and Walmart are the first to offer employers a unit price for all prescriptions across retail, mail and specialty.
“The extension of the Clearinghouse Model beyond retail to include specialty and mail order prescriptions furthers our commitment to eliminating artificial price inflation and variability for prescription drugs,” said AJ Loiacono, Founder and CEO at Capital Rx. “Capital Rx offers employers a guaranteed price for each prescription. We’re providing cost certainty on every transaction, not a constantly fluctuating price driven by PBM profitability. While this approach sounds simple, it is actually a transformational new model for an industry that has been plagued by price manipulation.”
“‘Everyday low price’ has been a guiding principle at Walmart. We take pride in providing affordable prices to more than 160 million customers who shop Walmart each week. Working with Capital Rx will allow us to do the same for prescription drugs,” said Luke Kleyn, Vice President, Walmart Health and Wellness. “Capital Rx is making great strides in redefining the way prescription drugs are priced and administered in the United States. We could not be more thrilled to work alongside such a forward-thinking team who shares our mission and will help Walmart’s everyday low prices reach the marketplace.”
“Through our collaboration with Walmart, Capital Rx brings the purchasing experience of an efficient market to specialty and mail drugs,” said Loiacono. “Given that specialty medications are the highest cost and fastest growing expense for employers, we have an incredible opportunity to deliver significant savings to both plan sponsors and patients nationwide. Most importantly, all employers receive the same price on prescriptions. There is no more price disparity between larger and smaller employers, enlightened and uninformed buyers, everyone receives the same, everyday low price.”
Capital Rx’s Clearinghouse Model is an industry first pricing model that connects buyers and sellers and rebuilds trust across the supply chain. At the center of Capital Rx’s Clearinghouse Model is a cloud-native technology platform that provides plan sponsors with full visibility to the unit price for all drugs in real time. Through this new pricing framework, Capital Rx eliminates arbitrary price variability for patients and employers.
Walmart Specialty Pharmacy is a URAC accredited, provider with a focus on patient-centered care, helping patients manage specialty medication therapies for a wide variety of complex and chronic diseases. Walmart Specialty Pharmacy coordinates care between patients, caregivers and insurance companies to ensure that patients receive necessary medications and supplies whenever and wherever they are needed.
About Capital Rx
Capital Rx is redefining the way prescriptions are priced and administered in the U.S. Through its Clearinghouse ModelSM, Capital Rx unlocks the pharmacy supply chain and reduces prescription costs for employer groups. By establishing a competitive marketplace for drug pricing, Capital Rx focuses its resources on deploying actionable strategies that improve plan performance and patient outcomes. The company’s commitment to innovation, technology, and service is why Capital Rx is the fastest-growing pharmacy benefit manager in America. For more information, please visit http://www.cap-rx.com.