McKesson Corporation announced that it has signed a definitive agreement to acquire Rx Savings Solutions (RxSS), a prescription price transparency and benefit insight company that offers affordability and adherence solutions to health plans and employers, reaching more than 17 million current patients. The transaction is valued up to $875 million.
RxSS helps members and payers reduce prescription drug costs through a combination of clinical technology, transparency, member engagement and concierge support.
Currently 17 million members have access to personalized recommendations for lowering prescription costs and dedicated pharmacy experts to help navigate benefits, providers and pharmacies.
RxSS patented a healthcare consumerism software driving proven results to save employers, employees and health plans money on prescription medications.
RxSS layers on existing benefits without changing plan designs and works with any PBM or engagement solution already in place. Patented technology analyzes every claim in real time to find every way members can save on prescriptions.
RxSS offers a unique and personalized experience for each member, eliminating complexity during their decision making process and providing them with the information they need to save money.
RxSS contracts directly with health plans and large self-funded employers to maximize the effectiveness of benefit design to drive prescription cost savings for members.
The company uses an evidence-based, proprietary machine-learning algorithm to help members understand available options for therapy and identify cost-effective prescription alternatives under their insurance. If a prescription change would benefit the member, RxSS provides assistance to update the prescription. The company also provides ongoing medication reminders to help improve adherence.
Following the closing of the transaction, RxSS will become part of McKesson’s Prescription Technology Solutions business, which works across the healthcare delivery system to offer next-generation patient access, affordability and adherence solutions.
The combined organization will endeavor to bring new capabilities for employers and patients to McKesson’s broad portfolio of pharmacy, provider, payer, and biopharma services.
After initial integration, McKesson expects to use the combined medication access, affordability, and adherence services as a foundation to build new outcomes management programs for biopharma and payers, differentiated by their reach and efficacy at three touchbpoints: provider office, pharmacy counter, and direct patient tools.
Takeaway: McKesson will add RxSS’s capabilities to its biopharma services to offer medication access solutions to patients