As a member-owned and member-governed pharmacy benefit cooperative, our members are at the core of everything we do. Whether you’ve been a member since day one or you are considering joining the Cooperative, keep reading to find out seven ways we show our commitment to members.
- Dedication to Value
While corporations are driven by quarterly returns, we’re dedicated to providing our members with the best overall value available.
- Patronage
National CooperativeRx continues to bring in more revenue than we need to operate, allowing us to return money to our members each year in the form of patronage.
- Member Education
We pride ourselves on sharing our vast knowledge with our members and their agents. All members and agents have access to our blog, social media posts, educational briefs and our complimentary Annual Meetings where we provide industry experts to educate us on the latest industry trends.
- One Master Contract Regardless of Employer Size
When we grow our membership, all members benefit. This is because the larger we become, the more purchasing power we accumulate. This allows us to negotiate the best contract available for our members and their participants. Our one contract regardless of employer size means that since we purchase pharmacy benefits with our group purchasing power, National CooperativeRx uses its strength in numbers to obtain pricing and services normally reserved for only the largest employers.
- Member-Owned and Member-Governed
National CooperativeRx is governed by our Board of Directors, which is made up of individuals elected by our membership. The goals of the Cooperative are aligned with the goals of our members, because we’re member-owned and member-governed.
- Rebates
Our Cooperative model guarantees 100 percent of discounts and rebates are passed through to members. We pride ourselves on being completely transparent and allowing our members to see exactly what is paid out for pharmacy transactions. In 2019, National CooperativeRx paid out $4.2 million to members in rebate true-up, patronage and audit recoveries.
- Watchdog Role
National CooperativeRx carefully monitors and reviews high-dollar claims to ensure pharmacies aren’t charging our members for unnecessary drugs. Our clinical team has identified and removed hundreds of questionable pharmacies from network, saving our members millions of dollars.
If you have questions about anything National CooperativeRx can do to further improve your pharmacy benefit experience, please don’t hesitate to ask your account executive. Thank you for being a Cooperative member!
