$MEDS TRxADE HEALTH Announces Launch of Preferred
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Posted On: 11/30/2021 12:29:13 PM
$MEDS TRxADE HEALTH Announces Launch of Preferred Drug Discount Card as Part of New Health Services Organization Offering
https://www.accesswire.com/675170/TRxADE-HEAL...n-Offering
TrxadeHSO™ Program Provides Healthcare-Adjacent Services to Vast User Network in Partnership with Paramount Rx, Empowering Independent Pharmacies to Remain at Forefront of Patient Care
TAMPA, FL / ACCESSWIRE / November 30, 2021 / TRxADE HEALTH, INC. (NASDAQ:MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced the launch of its TRxADE Discount Card, empowering independent pharmacies to continue offering deeply discounted drug pricing to their customers while concurrently protecting margins and remaining at the forefront of patient care.
Under its Health Services Organization (TrxadeHSO™) Program, Trxade aims to offer its network of 12,950+ members premier pharmacy and health-related services - all uniquely designed to empower pharmacies to provide better healthcare outcomes to consumers while growing their businesses as a local healthcare hub.
Made possible through a strategic partnership with Paramount Rx, a full-service pharmacy benefits manager, TRxADE HEALTH's Preferred Drug Discount Card offers a heavily discounted option for patients for one low flat-fee to providers, known as the administrative fee. All independent pharmacies that are part of the TRxADE HEALTH network will be eligible to participate, further eliminating the affordable prescription drug pricing divide between independent and chain pharmacies. This innovative solution, along with Trxade's proprietary supply chain platform, helps to foster price transparency across the continuum of care by protecting independent pharmacies who often see reduced margins when discount cards are utilized.
"We are pleased to announce our TRxADE Discount Card program, the T-Rx™ Savings Card, offering our network of independents access to competitive prescription savings for their customers while concurrently maintaining a reasonable transaction-level margin profile - a feature unique to our TrxadeHSO™ solution, unlike other well established discount card providers," said Prashant Patel, RPh, President of TRxADE HEALTH. "Other major prescription drug discount providers either exclude independents from the network or offer preferred rates to retail enterprise partners, resulting in higher fees for the independents and their patients when their benefit is utilized by the patient. Our model uniquely provides a win-win situation for all key stakeholders while further enhancing the value of the TRxADE platform to the independent pharmacy community.
"Independent pharmacies aim to provide a patient-centric approach to care for their members, but far too often they face the overwhelming pressure of negative reimbursements and claw backs from pharmacy benefit managers in the form of direct and indirect renumeration (DIR) fees. Through this collaborative partnership - a key first step in our broader TRxADE HSO strategy - we are able to offer a true win-win solution to both patients and pharmacy providers. I look forward to announcing exciting new opportunities for our pharmacy partners in the months to come," concluded Patel.
"Our independent pharmacies provide invaluable services to so many communities across the country. We are proud to partner with TRxADE and their family of pharmacies to better serve the millions of Americans in need of more affordable medications," added Michael Sallusto, Executive V.P. at Paramount Rx, Inc.
https://www.accesswire.com/675170/TRxADE-HEAL...n-Offering
TrxadeHSO™ Program Provides Healthcare-Adjacent Services to Vast User Network in Partnership with Paramount Rx, Empowering Independent Pharmacies to Remain at Forefront of Patient Care
TAMPA, FL / ACCESSWIRE / November 30, 2021 / TRxADE HEALTH, INC. (NASDAQ:MEDS), a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S., today announced the launch of its TRxADE Discount Card, empowering independent pharmacies to continue offering deeply discounted drug pricing to their customers while concurrently protecting margins and remaining at the forefront of patient care.
Under its Health Services Organization (TrxadeHSO™) Program, Trxade aims to offer its network of 12,950+ members premier pharmacy and health-related services - all uniquely designed to empower pharmacies to provide better healthcare outcomes to consumers while growing their businesses as a local healthcare hub.
Made possible through a strategic partnership with Paramount Rx, a full-service pharmacy benefits manager, TRxADE HEALTH's Preferred Drug Discount Card offers a heavily discounted option for patients for one low flat-fee to providers, known as the administrative fee. All independent pharmacies that are part of the TRxADE HEALTH network will be eligible to participate, further eliminating the affordable prescription drug pricing divide between independent and chain pharmacies. This innovative solution, along with Trxade's proprietary supply chain platform, helps to foster price transparency across the continuum of care by protecting independent pharmacies who often see reduced margins when discount cards are utilized.
"We are pleased to announce our TRxADE Discount Card program, the T-Rx™ Savings Card, offering our network of independents access to competitive prescription savings for their customers while concurrently maintaining a reasonable transaction-level margin profile - a feature unique to our TrxadeHSO™ solution, unlike other well established discount card providers," said Prashant Patel, RPh, President of TRxADE HEALTH. "Other major prescription drug discount providers either exclude independents from the network or offer preferred rates to retail enterprise partners, resulting in higher fees for the independents and their patients when their benefit is utilized by the patient. Our model uniquely provides a win-win situation for all key stakeholders while further enhancing the value of the TRxADE platform to the independent pharmacy community.
"Independent pharmacies aim to provide a patient-centric approach to care for their members, but far too often they face the overwhelming pressure of negative reimbursements and claw backs from pharmacy benefit managers in the form of direct and indirect renumeration (DIR) fees. Through this collaborative partnership - a key first step in our broader TRxADE HSO strategy - we are able to offer a true win-win solution to both patients and pharmacy providers. I look forward to announcing exciting new opportunities for our pharmacy partners in the months to come," concluded Patel.
"Our independent pharmacies provide invaluable services to so many communities across the country. We are proud to partner with TRxADE and their family of pharmacies to better serve the millions of Americans in need of more affordable medications," added Michael Sallusto, Executive V.P. at Paramount Rx, Inc.
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