How It Works
Member Savings
How Group Purchasing Works for Our Members
Our value keeps members happy, but it’s our best-in-class pricing that brings them here first. A side-by-side price comparison will show you how our group purchasing arrangement stacks up against your current pharmacy benefit manager (PBM).
How do we have such great pricing? We negotiate one master contract with a PBM. Instead of one member going directly to a PBM, our members are being represented by the weight of over 480,000 lives. That purchasing power adds up to big pharmacy benefits savings.
What We Do:
- Independently audit 100% of claims for pricing guarantees, rebate accuracy, financial accuracy, and claims adjudication resulting in transparent pricing.
- Negotiate a set rebate for every prescription, paid to members after each quarter’s end and 100% true-up at year’s close. A PBM rebate audit is conducted for accuracy.
- Provide a team of full-time staff pharmacists to help members evaluate clinical programs and make recommendations for cost containment.
- Offer a broad choice of no-cost and low-cost clinical programs for members to control non-specialty and specialty pharmacy spend. Members have the flexibility to choose the programs that are right for them.
- Return net earnings to members in the form of patronage dividends. Historically, over 90% of monthly membership fees have been returned to members.
How We Do It:
- We control costs through proactive recommendations, pharmacy management and the vetting and funding of viable clinical solutions.
- Self-funding employee benefits allows for groups to customize their plan designs. We do not believe in a one-size fits all approach.
- Cooperative members see every part of the financial arrangement. Another benefit is “patronage”, which is a payment to members when income exceeds expenses. Because we’re member-owned, our money is your money.
Contact Us
We can provide you with a detailed analysis of your current plan compared to a National CooperativeRx membership plan. Explore your options and cost saving opportunities. Contact us for more information or learn more about membership.