When Rehinking Heros' Cary Harrison started his interview with Anthony J “AJ” Loiacono, CEO of the Pharmacy Benefit Management Corporation Capital-Rx, it was first to thank him for what his firm is doing with Rethinking Heroes to help pocket-book weary – veteran and civilian – Americans get a break on the price of drugs.
What’s that, you say? Can someone involved in the world of Big Pharma, Big Hospital, and Big Insurance actually be thanked and considered a “good guy” who happens to keep company with these folk? The answer turns out to be, “Yes.”
“Drug prices in this country have gone overly complex and opaque,” AJ declares in this podcast interview, “and what we want to do is to provide people with access to an affordable price, one that is not manipulated. That price is made available by the federal government through CMS, and it’s one price that you can look up (yourself, with a few mouse clicks).”
As AJ points out, if you walk into a pharmacy and reach for a bottle of Advil you will understand the price immediately. You can also be sure that the price doesn’t suddenly change for the guy in front of or behind you, vary in price by 150 or 200 percent, or change from day to day.
With prescribed medication, it’s a whole different, confusing, and expensive process. Why? “Because too many people are making money on the medication – (especially) the invisible middlemen,” he asserts and proceeds to school us with facts and not spin in this short YouTube video.
Partly, the decision was reached by way of comparing Cap-Rx within its industry. Here, the company scores 99.5% in client retention, 100% in implementation satisfaction, and 96 in the “happiest clients” category where the industry average is 14. (14!) They also enjoy full accreditation by several major service organizations.
A good start.
Then, there’s the value and efficacy of the pharmacy benefit card Capital Rx has issued through Rethinking Heroes. Value: Capital Rx earns a flat 99 cents on each adjudicated claim that does not hit a pharmacy’s U&C. That’s it. Efficacy: the card saves on most of the prescriptions that families depend on. Simply present the card to your pharmacist when you fill your prescription to find discounts.
And finally, their attitude and innovation.
They consider themselves on a mission to create enduring social change and rebuild trust in healthcare; it’s not just PR corporate-speak.
*On March 30 of this year, Capital Rx President Matt Gibbs testified (video) before the U.S. Senate Finance Committee on the PBM Business model and its impact.
*The Advantage Card is the first to bring radical transparent drug pricing to the prescription discount card market, beating other popular cards with savings of up to 90% on scripts.
*A portion of the 99 cent fee goes towards our Veteran Mission Possible campaign to create greater public awareness of the problem of and solutions for veteran suicide and unpayable veteran medical debt.
*Capital-Rx left behind the traditional corporate model recently to become a Public Benefit “B” Corporation (PBC) to align itself more closely with its stakeholders over its shareholders.
Speaking from my own experience (Rethinking Hero’s parent organization, Let’s Rethink This is also a “B” Corp) this is a win-win. Stakeholders win by receiving goods or services at affordable prices. Investors win by supporting an organization with a social conscience and whose mission is to do well by doing good.”
If this approach resonates with you as well as it resonates with us, we invite you to participate.
Click Here to download your card and begin the savings on prescription drugs that are available and to which you are entitled. You’ll be keeping good company.