RxAdvance Wins SMART Union Pharmacy Benefit Management (PBM) Contract to Reduce Overall Pharmacy Costs, Avoidable Drug-Impacted Medical Costs, and Optimize Specialty Drug Utilization

SOUTHBOROUGH, Mass.–(BUSINESS WIRE)–#AHIP2017RxAdvance
today announced that the International
Association of Sheet Metal, Air, Rail and Transportation Workers (SMART)
,
one of North America’s most dynamic and diverse unions with 216,000
members, has awarded its multi-year pharmacy benefit management (PBM)
services contract to RxAdvance beginning on Jan. 1, 2018. Through
RxAdvance’s innovative, market-disrupting services, SMART will pursue
its commitment to offering cost-effective coverage to members. RxAdvance
is the first PBM in the marketplace to deliver true transparency and
collaborative partnership to plan sponsors—allowing SMART complete
visibility into the PBM’s pricing, operations, utilization, compliance,
and modeling. The SMART PBM services agreement will leverage RxAdvance’s
comprehensive PBM services and market-leading Collaborative PBM Cloud
platform to deliver overall pharmacy and avoidable drug-impacted medical
savings, while streamlining specialty spend for SMART.


RxAdvance’s technology and services will provide holistic medical and
pharmacy care solutions that deliver better outcomes and cost savings
for SMART members. RxAdvance’s fully integrated Collaborative PBM
Cloud
™ platform delivers actionable intelligence to all care
continuum stakeholders through their respective workflows. Pass-through
pricing, low admin fees, granular benefit design, intelligent clinical
rule configuration, unlimited formulary tier design, and superior member
experience are a sampling of the many services delivered through this
agreement.

SMART has worked with many large PBMs in the past, and was drawn to
RxAdvance’s honesty and transparency throughout the RFP process,
including their willingness to showcase their platform capabilities
during the finalist presentation. We are very excited to partner with
RxAdvance to deliver the most cost effective and innovative pharmacy
solutions to our members through their holistic approach, which includes
providing clinical and pharmacy support to SMART members.
Their
platform’s ability to integrate all pharmacy, medical, and lab
information to maximize the health outcomes for our members was key in
selecting RxAdvance. RxAdvance provides SMART with dynamic and fully
user configurable solutions, enabling superior cost and quality
visibility for benefit administrators,
” said SMART’s Joseph Sellers,
Jr., General President.

Our commitment to redefining the PBM value proposition to plan
sponsors has been fully embraced by SMART.
I believe that
together, we will continue to create an industry standard of
PBM-Employee/Union partnership through reduction of overall pharmacy
costs, reduction of avoidable drug-impacted medical costs, and
optimization of specialty spend,
” says Ravi
Ika
, Founder & CEO of RxAdvance.

About SMART
SMART, the International Association of Sheet
Metal, Air, Rail and Transportation Workers, is one of North America’s
most dynamic and diverse unions with 216,000 members. SMART’s members
produce and provide the vital services that move products to market,
passengers to their destinations and ensure the quality of the air we
breathe. SMART is sheet metal workers, service technicians, bus
operators, engineers, conductors, sign workers, welders, production
employees and more. With members in scores of different occupations,
SMART advocate for fairness in the workplace, excellence at work and
opportunity for all working families. https://smart-union.org/

About RxAdvance
RxAdvance is a national full-service
pharmacy benefit manager that leverages Collaborative PBM Cloud™ to
deliver integrated PBM services that reduce overall pharmacy costs,
optimize specialty spend by converting from “buy and bill” to “authorize
and manage”, and reduce avoidable drug-impacted medical costs while
improving patient’s quality of life with unmatched regulatory compliance
and transparency. In addition, RxAdvance offers a global pharmacy risk
partnership model standing shoulder-to-shoulder with plan sponsors. Our
tailored, world-class services are for all plan sponsors — health plans,
accountable care organizations (ACOs), exchanges, state Medicaid
programs, and employer groups. We provide contractually guaranteed
savings in administrative costs, ingredient unit costs, and rebate
revenues. For more information, visit www.rxadvance.com.

Contacts

RxAdvance
Liz Thomas
Elizabeth.Thomas@rxadvance.com