RxSense®, a healthcare technology company delivering pharmacy benefits solutions and prescription savings, today announced RxIQ® Autosave, an Integrated Benefit Offering (IBO), to lower the cost of prescriptions for clients and their members. RxIQ Autosave compares members’ out-of-pocket costs under their insurance benefit to a network of prescription discount cards and automatically selects the lowest price.
Nearly one-third of U.S. adults do not take their medication as prescribed due to cost, according to a KFF poll. Plus, a growing number of Americans pay for prescriptions using cash or discount cards due to high copays, high deductibles, or lack of insurance coverage for certain medications.
When Autosave identifies a lower price through a prescription discount card, the member and plan sponsor both win: The member pays less for the drug than they would have under their insurance benefits, and it also lowers plan costs. The amount the member pays is then automatically applied to their deductible and out-of-pocket maximum.
Additionally, Autosave streamlines claims processing to relieve the administrative burden for clients and members and spares members and pharmacists from the hassle of comparing prices at the pharmacy counter.
Autosave also enhances clinical support by providing plans with a more comprehensive drug profile. This enables more effective safety measures, clinical interventions, and program objectives, such as identifying potential drug interactions.
Vivid Clear Rx, a pass-through pharmacy benefit manager owned by Hy-Vee, Inc., is the first PBM to adopt this technology.
“We’re excited to partner with RxSense to help our members save more on their prescriptions using the new RxIQ Autosave solution,” said Amy Wadstrom, president of Vivid Clear Rx. “In addition to lowering costs for our members, this technology will also reduce overall expenses for our clients and provide greater price transparency into their benefit spend.”
“We’re pleased to launch RxIQ Autosave to help more people across the U.S. access the lowest price on their prescription drugs and help them stay adherent to their medications,” said Rick Bates, founder and CEO of RxSense. “This technology reinforces our commitment to price transparency, and we believe it will bring substantial saving opportunities to our partners and their patients as well as improve health outcomes.”
RxIQ Autosave is the latest product in RxSense’s portfolio of pharmacy benefits solutions—serving pharmacy benefit managers, health plans, health systems, and employers—and lowering drug costs for consumers nationwide.
For more information about RxSense solutions and RxIQ Autosave, visit www.rxsense.com.