About Us
Our History
In 2011, when the Employers’ Advanced Cooperative on Healthcare founded Employers’ ChoiceRx (ECRx), it was the first pharmacy BENEFIT solution built to be a transparent/cost-plus program that focused on “therapeutic equivalent” drugs to achieve a lowest net cost reference price.
In creating ECRx, the EACH Board saw to it that the pharmacy solution addressed the issues around conflicts of interest and misalignment by creating a system of accountability and separating the powers between PBM, Specialty Drugs and Rebates. This advanced thinking has resulted in having a <2% annual year over year trend for employers compared to Rx industry standards of 8% – 10% annual year over year trend.
How does your PBM compare?
| Features and Benefits | Your PBM | ECRx |
|---|---|---|
| Cost Saving with full transparency, audit rights, contract terms and pricing conditions totally transparent. All eligible rebates are retained by employer | ? |
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| Carve-out rights for maximum flexibility – specialty pharmacy, mail order and clinical review with third parties that add value and cost savings | ? |
✓ |
| Independent clinical recommendations and formulary development that eliminate concerns over PBM placing drugs on formulary for economic gain | ? |
✓ |
| Evidence-based coverage decisions based on lowest net cost and clinical value by independent doctors and pharmacists | ? |
✓ |
| Optimize formulary and plan designs by removing lifestyle drugs, therapeutic equivalents with OTC and low-value drugs | ? |
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| Eliminate excessive PBM dug cost mark-ups by contracting directly with key pharmacy partners and plan design incentives to reward high value/low cost choices | ? |
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| Custom network designed to Plan Sponsor’s needs | ? |
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| A cost-plus model = ingredient cost + administrative fees (disclosed) | ? |
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