MercerRx Technology Solution Launched For Specialty Drugs

Mercer recently launched Mercer SelectRx, an exclusive product offering that leverages Free Market Health’s proprietary, cloud-based technology platform to drive competition among specialty pharmacies for high-cost specialty medications and savings for employers and their employees.

Mercer SelectRx takes a novel approach to the current prescription drug supply chain model. Specialty prescriptions are directed to the platform, which drives competition among a curated network of specialty pharmacies with the right capabilities to service the employee.

The pharmacy offering the lowest price on the approved specialty medication is chosen to dispense it, without any delays in the delivery of the medication to employees or impact to the drug rebates provided by pharmaceutical manufacturers to the employers. While cost savings will vary by employer and prescribed medication, Mercer SelectRx could save employers and employees up to 10% off specialty drug spend.

Mercer SelectRx enables employees to have access to a broader network of quality specialty pharmacies, including those offering differentiated care models like integrated care and disease state specialization, without disrupting an employer’s relationship with its Pharmacy Benefit Manager (PBM).

The tech-enabled model tracks each specialty claim to fulfillment, without disruption to the existing patient experience and with a reduction in employee abandonment of their medications.

Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in over 130 countries. Mercer is a business of Marsh McLennan, the world’s leading professional services firm in the areas of risk, strategy and people, with more than 85,000 colleagues and annual revenue of $23 billion.

Founded in 2019, Free Market Health supports forward-thinking payers and specialty pharmacies of all sizes who need to operate in a complex and opaque market. Free Market Health is a healthcare technology company dedicated to improving the specialty pharmacy ecosystem with a care-driven marketplace platform.

Free Market Health partners with payers on a new approach to their specialty drug management program. The Free Market Health platform drives efficiency, facilitates transparent and equitable access to specialty drug prescriptions for specialty pharmacies, ensures members are serviced by a pharmacy equipped to meet their unique needs, and lowers overall specialty drug spend through real-time market competition.