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EmsanaRx: Bringing Integrity and Accountability to PBM Industry
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Greg Baker, CEO, EmsanaRx
Most companies in the U.S. spend a substantial portion of health care expenditure on pharmacy benefits, so pharmacy benefit management (PBM) organizations were incepted to assist companies in streamlining these benefits. However, most PBMs have cumulatively formed intermediary channels, such as GPOs, that directly engage with manufacturers to push overpriced drugs instead of cost-effective ones and negotiate hefty rebates for their profit. Dissatisfied by unmet medical needs and out-of-control costs, EmsanaRx was launched by the Purchaser Business Group on Health (PBGH) as a public benefit corporation to provide clinically-focused and patient-centric pharmacy benefit solutions that bring integrity, clarity and trust back to the PBM market. With its seasoned management team, the company aims to be the first-of-its-kind PBM established by employers, for employers that ensures cost-efficient and accessible pharmacy benefits.
“We’re a for-profit, mission-driven Public Benefit Corporation (PBC) with an aim to drive transparency and quality of care while reducing unnecessary medical costs for millions of businesses and employees alike,” states Greg Baker, founder and CEO of EmsanaRx.
EmsanaRx strives to improve the health care experience and PBM industry practices with its clinical expertise, flexible customization and transparent pricing. The company uses a combination of state-of-the-art technology and consultative white-glove service to lower costs, improve health outcomes and generate measurable results through real-time client and patient-level reporting. In addition, EmsanaRx has employed Engagement Liaisons to manage the process from start to end proactively.
It makes a difference by eliminating the GPO layer and charging a fixed, pre-decided fee and offering a seamless onboarding process with contracts using simplified language. The company also provides its clients with full audit rights and data ownership, which helps maintain a digital trail of each transaction.
To further illustrate the efficiency of EmsanaRx’s PBM solutions is an instance where one of their first clients, a regional medical center, spent a significant amount of their funds on the pharmaceutical budget and was facing bankruptcy. They sought assistance to drive better decision-making to escape their dire financial situation. EmsanaRx handled the case in a white-glove service approach and allocated Engagement Liaisons in the process to ensure analysis of each drug individually. Following this, it replaced any high-cost drug with a similar low-cost variant while consulting with doctors and pharmacies in every decision to ascertain there was no member disruption. Over the course of 6months, using state-of-the-art technologies and dedicated Engagement Liaisons supervising every prescription request, EmsanaRx was able to significantly reduce the client’s pharmaceutical costs by 62.6 percent.
We’re a for-profit, mission-driven Public Benefit Corporation (PBC) with an aim to drive transparency and quality of care while reducing unnecessary medical costs for millions of businesses and employees alike
The PBM market is projected to grow to $740.05 billion globally by 2029 as per a Fortune Business Insights report. All the health insurers, employers, companies and other payers will need PBMs to help in the cost management of pharmacy costs more than ever. EmsanaRx envisions reshaping the PBM industry with a clinically-led working model of total transparency, clarity and ease. Its name reflects its mission- ‘Emsana’ is a combination of the word ‘em’ for ‘employer/employee’ and the word ‘Sana,’ which means health in Sanskrit and simple/straightforward in Arabic. EmsanaRx intends to continually build and improve PBM channels for their clients to provide better and more economical health care outcomes.