SmithRx Introduces New PBM Evaluation Methodology Optimized for Drug Cost Savings [Yahoo! Finance]
CVS Health Corporation (CVS)
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Source: Yahoo! Finance
SAN FRANCISCO, June 27, 2024 BUSINESS WIRE SmithRx , a transparent and 100% pass-through pharmacy benefits manager (PBM), today introduced a new PBM evaluation methodology – cost-based evaluation – optimized for lowering pharmacy benefits costs. Cost-based evaluation is detailed in SmithRx's PBM Evaluation Guide , a comprehensive industry analysis unveiled today that offers an alternative path forward for pharmacy benefits management. Alongside the guide, the company also released new cost-savings data, which underscores how SmithRx's cost-focused strategy results in a meaningful reduction in drug spend for employers – setting a new standard in the PBM industry. SmithRx's strategy is focused on finding the lowest net cost of prescription medications for its employer clients, rather than the common industry tactic of optimizing for higher discounts. While both may seem like viable paths to cost reduction, SmithRx's data demonstrates how optimizing for lower net cost over discounts g
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