Moore: Three Rx Networks Everyone Can Use

Tuesday, April 4, 2023 | 0

Prescription networks (also known as pharmacy networks) have evolved over the years due to tech and the internet. In most posts, I do not recommend companies unless I have used them myself. A few years ago (2015), I recommended the prescription network BidRx. I will cover it again, along with two other networks.

James Moore

Check out this associated article where the National Council on Compensation Insurance shows a reduction in workers' comp spending for prescriptions since 2012.

One network saved me almost $8,000 on one Rx last year. The other two remain difficult to value due to multiple medications. Those two have also provided extensive savings. 

None of these require health insurance. Let us look at each network, along with links to their websites. I then will comment on their adaptability for workers' comp.

Please note that neither J&L Risk Management Consultants nor I receive royalties or any payments for recommending these networks.

BidRx was mentioned by Clark Howard in a few of his posts in 2015. I decided to try the network in 2015. It worked well. The bidding part was unique at the time. Mail-order pharmacies will bid on your prescriptions once you list them on the website.

One network that I am using presently is the multiple-award-winning DiRx. The website has the option to pay one price ($110) for as many prescriptions as you need (mailed quarterly). Even though I have health insurance that covers prescriptions, DiRx was much cheaper than the co-pays and deductibles during the year.

The company even sent the first prescriptions in a gift box with a thank you note, a nice touch. If you do not need a large number of medications, DiRx still provides competitive pricing with free shipping.

As I have not used DiRx for a long period, I will provide an update for any negative occurrences, which I doubt will happen.

We have all seen the commercials where the person walks in and is quoted a huge price by the pharmacy. The person then pulls out a GoodRx card, where the price reduces from multi-hundreds of dollars to under $20. My experience included dramatic savings in the same scenario as the commercials. I had picked up one of the GoodRx cards at my physician’s office.

I was quoted $685 for a 30-day prescription. The GoodRx card reduced the price to $18.75. That equaled $7,995 for a year for just one medication. This was the most dramatic savings I had seen for any of the prescription networks.

Adaptation to Workers' comp

I am not an expert on Rx networks. Any time that I see where an employer’s workers' comp costs can be reduced without sacrificing the level of care for injured workers, an article will be produced to point out how to save costs/premiums. 

I reduced my own potential Rx payouts from almost $10,000 per year to under $200 by searching for alternative prescription networks. Adapting that to another line of insurance should not be that difficult.

An adage: There is always a cheaper deal.

This blog post is provided by James Moore, AIC, MBA, ChFC, ARM, and is republished with permission from J&L Risk Management Consultants. Visit the full website at www.cutcompcosts.com.