Latest news with #PharmacyBenefitManager
Business Wire
21-05-2025
- Business
- Business Wire
HealthEZ Launches EZrx: Redefining Pharmacy Benefits Management
MINNEAPOLIS--(BUSINESS WIRE)--HealthEZ, a national third-party benefits administrator, is proud to introduce EZrx, a next-generation pharmacy solution that leverages six cost-reduction strategies to deliver up to 50% savings compared to traditional pharmacy benefit plans. This solution supports self-funded plans by targeting high-cost prescriptions and optimizing pharmacy spend. EZrx is designed to bring down pharmacy costs by up to 50% compared to traditional PBM solutions. Share EZrx places the clinical review outside of the Pharmacy Benefit Manager, ensuring employers pay the lowest net cost on any medication over $1,000 per fill. This program will soon feature an innovative digital experience, allowing members to compare prices and transfer their prescriptions to the lowest-cost pharmacy with the click of a button. By shifting control of clinical review away from the PBM, EZrx significantly reduces costs by identifying and sourcing medications through the most effective channels while simplifying everything from patient assistance to authorization management. EZrx is a game changer for employers looking to control rising pharmacy costs while ensuring exceptional care for their employees. According to Josh Schreiner, Chief Product Officer at HealthEZ, ' EZrx is designed to bring down pharmacy costs by up to 50% compared to traditional PBM solutions. By managing claims over $1,000, EZrx can identify the lowest net cost channel or alternative medication that can yield maximum savings for our customers while delivering a member incentive to produce a win-win for all parties involved.' Learn more about how EZrx can revolutionize your pharmacy benefits at About HealthEZ HealthEZ is a national third-party administrator helping employers across the U.S. design custom benefit plans that deliver better, more flexible coverage at lower costs. With a fully integrated model and robust digital platform, HealthEZ ensures a seamless experience for members while driving meaningful cost containment. Backed by a dedicated care advocacy team and expert guidance, HealthEZ simplifies self-funding—making it smarter, more efficient, and more effective for employers and their employees.
Yahoo
13-05-2025
- Business
- Yahoo
Marshalltown City Council moves mall project forward
MARSHALLTOWN, Iowa — The Marshalltown City Council voted 6-1 to moved forward with crafting the language of a developers agreement to bring new life into the Marshalltown Mall. The mall would be re-named Shoppes at Marshalltown. 'I'm here in front of you with a grand vision for repurposing the mall,' said developer Glen Kitto. 'We can't attract national tenants without a brand new looking mall, so it's very important for us to get financing in order to make that happen.' Iowa House sends PBM reform bill to governor's desk Kitto estimated there would be 225 construction jobs to rebuild the mall. Once complete, the mall would employ around 250 people. 'What council will do tonight is simply discuss whether or not they want to pursue the writing of a development agreement,' said Carol Webb, Marshalltown City Administrator. 'The information that's contained in tonight's materials relates to major terms of the agreement such as what will, primarily the tax increment financing incentive.' The council's vote was to move forward on terms, but did not approve the 20-year proposal, which under tax increment financing, would raise $7.2 million. If things move forward, a store could open the doors in summer of 2026. So far, no retailers have signed on. Kitto said stores don't want it known what they are planning, but once one signs an agreement, others will follow. Iowa News: Marshalltown City Council moves mall project forward Forecast: Who will see rain this week? Iowa House sends PBM reform bill to governor's desk Congressman Randy Feenstra files paperwork hinting he may run for governor Pharmacy Benefit Manager reform bill to be debated Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
13-05-2025
- Health
- Yahoo
Iowa House sends PBM reform bill to governor's desk
DES MOINES, Iowa — The Iowa House on Monday passed the pharmacy benefit manager (PBM) reform bill and sent it to the governor's desk. PBMs are entities that negotiate the prices for prescription drugs between pharmacies and insurance companies, handle reimbursements to pharmacies, and determines where a patient can get their medications from. Champions for the reform bill say that the current practices of PBMs are detrimental and have resulted in numerous pharmacies closing across the state. Golf tournament raises $30,000 for families of Iowa veterans and first responders in first swing The reform bill, SF 383, passed the House 75 to 15. It requires PBMs to reimburse pharmacies based on the National Average Drug Acquisition Cost for prescription drugs and to reimburse pharmacies with a professional dispensing fee. Following the passage of the bill, the Iowa Pharmacy Association released a statement thanking the Legislature for protecting Iowa pharmacies and their patients. We commend the Iowa House for recognizing the urgent need to address PBM middlemen abuses. This bill is a critical step toward protecting Iowa's local pharmacies and ensuring accountability for PBMs, whose practices have forced Iowa pharmacies to shutter their doors and countless Iowans to lose healthcare access. With states nationwide enacting similar reforms, we're grateful the House and Senate have paved the way for Governor Reynolds to sign this bill and safeguard Iowa's pharmacies and the patients they serve. Iowa Pharmacy Association CEO Kate Gainer The bill is now eligible to be signed into law by Governor Kim Reynolds. Iowa News: Forecast: Who will see rain this week? Iowa House sends PBM reform bill to governor's desk Congressman Randy Feenstra files paperwork hinting he may run for governor Pharmacy Benefit Manager reform bill to be debated Fire causes 'significant' damage to Raccoon River Valley Bike Trail bridge in Adel Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
11-04-2025
- Business
- Yahoo
Competition Bureau advances an investigation into Express Scripts Canada's business practices in the pharmacy sector
GATINEAU, QC, April 11, 2025 /CNW/ - The Competition Bureau has obtained a court order to advance an investigation into Express Scripts Canada, a company that provides prescription drug claim processing services and other services for insurance providers and pharmacists. The company also operates four mail-order pharmacies across Canada, except for Quebec. The order, granted by the Federal Court, requires Express Scripts Canada to produce records and written information, and provide oral testimony, that are relevant to the Bureau's investigation. The Bureau is looking into alleged anti-competitive conduct that can prevent or limit competition in the pharmacy retail market, including: Patient steering through Preferred Provider Networks that force or induce Canadians to use Express Scripts Canada owned or associated pharmacies instead of their pharmacy of choice; and Margin squeezing that reduces the margins of its retail pharmacy competitors by increasing its Pharmacy Benefit Manager service fee and by requiring a costly and burdensome audit process. The Bureau is investigating this conduct under the Competition Act's restrictive trade provisions. These provisions protect against abuse of dominance and agreements or arrangements between businesses that harm competition. There is no conclusion of wrongdoing at this time. Quick facts Express Scripts Canada is a subsidiary of US-based Express Scripts which is owned by the Cigna Group, a US-based global health company. A Pharmacy Benefit Manager, commonly referred to as a PBM, provides prescription drug claim processing services for insurance providers and pharmacists. A Preferred Provider Network agreement, also referred to as a Preferred Pharmacy Network agreement or a PPN, aims to establish a network of "preferred" pharmacies for a particular insurance provider. In this agreement, an insured individual is either required or encouraged to fill their prescriptions from a pharmacy operator in their insurance provider's network. The Competition Act includes provisions to protect Canadian consumers and businesses against restrictive trade practices, including abuse of dominance and agreements that may harm competition. The Bureau is committed to protecting competition in the pharmacy sector. Refer to the Associated links below to learn more about published reports and enforcement action taken in this sector in recent years. Associated links Competition Bureau submission to the Ontario Ministry of Finance consultation on the preferred provider networks in the employer-sponsored drug insurance sector Competition Bureau preserves competition in supply of pharmacy products and services in Saskatchewan Competition Bureau approves transfer of interests in 10 Quebec pharmacies from Metro to Familiprix, McKesson Competition Bureau recommends increasing competition in the sale of pet medication Section 11 order in the Competition Act Changes to the provisions on restrictive trade practices introduced with amendments to the Competition Act in 2022-2024 General information: Request for information | Complaint form Stay connected: X (Twitter) | Facebook | LinkedIn | YouTube | RSS Feed | Email Distribution List The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth. SOURCE Competition Bureau View original content: Sign in to access your portfolio
Yahoo
24-02-2025
- Health
- Yahoo
Pharmacists across Alabama to participate in walkout for PBM reform
ALABAMA (WHNT) — According to the Alabama Pharmacy Association, pharmacists across the state are staging a walkout on Tuesday. The Patient Access Bill, or SB93, advocates for 'patient access and pharmacy survival,' Alabama Pharmacy Association Chief Executive Officer Louise Jones said. 'We have over 100 pharmacies in all areas of Alabama that are participating in some way,' Jones said. You can read the full bill introduced at the beginning of February below. SB93Download To remain accessible to patients, the association said pharmacies will participate in the walkout in a variety of ways. Jones said those who can close for the afternoon will but that not all will fully shut down. Jones also said some pharmacies will close for one or two hours in the afternoon, a few are turning their lights down and some are closing their front doors but the drive-through windows will still be open. The purpose of this walkout/variety of walkout participation, Jones said, is to start a conversation with patients to address the needed Pharmacy Benefit Manager reform (PBM). Many will gather at the Statehouse in Montgomery that day to advocate for Senate Bill 93 which addresses PBM reform and fair reimbursement, and then will walk over and attend the Alabama Pharmacy Association's Legislative Reception to continue the advocacy efforts. The association said PBMs are 'middlemen that determine what medications patients can receive, how much patients pay out of pocket for their prescriptions, and how pharmacies are reimbursed for dispensing medications.' Pharmacies are struggling to keep their doors open as they are often reimbursed for medication at a price lower than their cost of dispensing the medication to the patient. We continue to lose pharmacies across Alabama every month. Originally designed to help reduce the price of prescription drugs, research shows that PBM practices have contributed significantly to the steep increases in prescription costs. APA To learn more about the association and the walkout, you can visit its website here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
