EnvisionRx Recognized as Top-Tier Pharmacy Benefit Manager by Healthcare Accrediting Organization, URAC
July 25 2017 - 10:07AM
Business Wire
Quality, progressive approach to pharmacy care
improves outcomes for patients and plan sponsors
EnvisionRx, a pharmacy benefit manager (PBM) and
division of EnvisionRxOptions, a wholly owned subsidiary of Rite
Aid Corporation, today announced that it has achieved renewal of
the Pharmacy Benefit Management accreditation by URAC. EnvisionRx
is one of only 27 PBMs to receive this accreditation, which
Envision has held since 2006. This demonstrates a continuous,
comprehensive commitment to quality care, improved processes,
transparency and better patient outcomes.
The URAC accreditation process demonstrates a commitment to
quality services and serves as a framework to improve business
processes through benchmarking organizations against nationally
recognized standards. URAC’s leading indicators are non-weighted,
optional elements highlighting effective practices not yet widely
adopted in healthcare. They allow a URAC-accredited organization to
distinguish itself from other accredited organizations. Leading
indicators may provide a forecast of where the healthcare industry
may be heading.
“Envision was built on a progressive idea that gave plan
sponsors real transparency in the management of their pharmacy
benefit," said Matthew Gibbs, president of commercial and managed
markets for EnvisionRx. "Because we provide this level of clarity,
Envision has to make sure we run an efficient, effective PBM for
both our payer clients and their members. The renewal of our URAC
accreditation is proof that Envision continues to integrate new
ideas with a focus on quality, and that our approach improves cost
and care for patients, as well as health plans, labor groups and
employers of all sizes."
Pharmacy Benefit Management Accreditation Demands Proof of
Transparency
URAC’s Pharmacy Benefit Management Accreditation standards
facilitate transparency by ensuring that accredited organizations
have a mechanism for clients to verify that financial disclosures
are comprehensive and accurate. Envision launched the first fully
transparent PBM in 2001, offering payers a completely open and
supportive partnership that is auditable down to the claim
level.
Additionally, URAC’s standards include customer services and
communication, as well as pharmacy distribution channels related to
access, availability, quality and safety across retail, mail order
and specialty pharmacy channels. Accredited organizations must also
focus formulary decisions on the safety, efficacy and therapeutic
need for drugs first, and focus on cost only after these
considerations are met.
“URAC accreditation shows that EnvisionRx is a pharmacy benefit
management organization able to adhere to standards that cover
important aspects of care such as claims processing, developing
proper drug formulary, and consumer access,” said URAC President
and CEO Kylanne Green. “Quality policies and procedures are
paramount as the price and complexity of medications rise.
EnvisionRx chose to demonstrate their performance through URAC’s
independent accreditation of their services.”
EnvisionRx also holds URAC accreditation in Drug Therapy
Management, and EnvisionPharmacies, also a division of
EnvisionRxOptions, is accredited by URAC for Mail Order Pharmacy
and Specialty Pharmacy.
“We are re-inventing the way people think about healthcare and
improving the ways they access life-changing medications,” said
Gibbs. “It is not just our systems and processes that produce
results. Our people go to work every day trying to improve the cost
and quality of care for our members. We teach patients how to
better manage their own conditions for a better quality of
life.”
About EnvisionRx
EnvisionRx is a division of EnvisionRxOptions, a health care
company with a visibly different approach to managing pharmacy
benefits. As a full service provider, Envision leverages its core
PBM services including Mail, Specialty and Compounding Pharmacies;
Part D Medicare insurance plans; and cash savings programs, to help
employers and health plans of all sizes provide more affordable and
effective prescription drug coverage for their members.
Headquartered in Twinsburg, Ohio, EnvisionRxOptions is a wholly
owned subsidiary of Rite Aid. For more information, visit
www.envisionrx.com.
About URAC
Founded in 1990, URAC is the independent leader in promoting
healthcare quality through accreditation, certification and
measurement. URAC is a nonprofit organization developing
evidence-based measures and standards through inclusive engagement
with a range of stakeholders committed to improving the quality of
healthcare. Our portfolio of accreditation and certification
programs span the healthcare industry, addressing healthcare
management, healthcare operations, health plans, pharmacies,
telehealth providers, physician practices, and more. URAC
accreditation is a symbol of excellence for organizations to
showcase their validated commitment to quality and accountability.
For more information, visit www.urac.org
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version on businesswire.com: http://www.businesswire.com/news/home/20170725005977/en/
EnvisionRxOptions Media contact:Bobby Creek,
813-690-8503bcreek@envisionrx.com
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