Healthcare Bluebook, the industry leader in healthcare quality and price digital navigation, today announced the launch of Bluebook RxSM, a new solution that helps employers and other health plan sponsors better understand and optimize their prescription drug spending. Bluebook Rx is fully integrated into Healthcare Bluebook's existing quality and cost navigation solution, which empowers employers, plan sponsors and consumers to identify and select high-quality, affordable healthcare providers.
"Prescription medications — particularly specialty and brand-name drugs — have created an unsustainable cost situation for American consumers and businesses. We know that approximately 1 in 4 Americans can't afford their medications. And for some companies, pharmacy spending consumes more than 30 percent of their total health benefit costs," said Bill Kampine, Chief Innovation Officer of Healthcare Bluebook. "Bluebook Rx provides an independent look at prescription drug utilization to help employers understand the opportunity to save, and supports employees and family members in making lower-cost, higher-value choices, which is what Bluebook is all about."
Bluebook Rx analyzes pharmacy claims data to identify overpriced medications and guides members toward clinically effective, lower-cost alternatives. Members have access to personalized savings reports and a concierge service, including access to Bluebook's licensed pharmaceutical team, to help guide their decisions. In some cases, individuals may save thousands of dollars in annual out-of-pocket spending.
When members save, so does the plan — potentially millions of dollars in wasteful spending. For example, analysis of an energy industry employer on a national PBM "value" formulary showed that roughly a third of their $72 million annual pharmacy spend could be saved by using lower cost, equivalent alternatives.
"Bluebook was founded to protect consumers and companies from over-priced, low-quality healthcare," Kampine said. "With the addition of Bluebook Rx — alongside other recent enhancements to our suite of services — we've created a one-stop-shop for actionable insights into healthcare spending and the proven tools for achieving higher-quality, lower-cost utilization."
Bluebook Rx is available now to current and future Healthcare Bluebook customers and their members. Its launch follows the recent addition of Bluebook Comply, which helps health plans and third party administrators meet federal healthcare price transparency deadlines, and Bluebook Insights, an interactive solution empowering benefits brokers to make value-driven recommendations for their clients.
About Healthcare Bluebook
Healthcare Bluebook uses industry-leading objective quality and price data and claims-driven ROI reporting to deliver healthcare value insights to consumers, employers and healthcare providers and payors. Bluebook's intuitive online healthcare shopping solution provides employers and members with an easy-to-use benefits solution that increases movement from low-value to high-value care and prescription medications, driving savings and rapid ROI, and providing greater price predictability. Combined with a proven engagement methodology, Bluebook's innovative suite of services empowers smarter healthcare choices, while decreasing costs and improving healthcare outcomes.