Walmart, Humana team up for Rx4Value program
BENTONVILLE, Ark. — Walmart and healthcare partner Humana are out with a new prescription drug program called Rx4Value that guarantees savings and relies on the proven strategy of improving affordability by restricting choice to generic drugs.
Humana Pharmacy Solutions, the pharmacy benefit management subsidiary of Humana, said the new formulary and the Walmart Rx Network guarantee up to 20% savings on employers’ average prescription price. Those claims are possible in part because the new Rx4Value formulary replaces certain brand-name drugs with generic alternatives that Humana said are equally effective and provide greater cost savings. The program is available to self-insured employers and will be available to fully-insured employers later this year.
The new Walmart Rx Network will allow employers to select a Walmart-focused network for their employees to fill their prescriptions. The network offers self-insured employers an average of 10% savings on their annual average prescription price, according to Humana. The new Rx4Value formulary provides comprehensive therapeutic coverage while saving self-insured employers an average of 15% on their members’ annual average prescription price. Both options are available individually and can be combined for compounded savings, according to Humana. In total, self-insured employers who select both the network and formulary options will be able to save up to 20% on their annual average prescription price, meaning that a self-insured employer with 1,000 employees could achieve savings of as much as $400,000 per year, according to Humana.
“At Walmart, we’re committed to providing low-cost prescriptions and ensuring that people have affordable access to the medications they need to help them live healthier lives,” said John Agwunobi, president of Walmart U.S. health and wellness. “We are proud to team with Humana on this innovative benefit.”
William Fleming, president of Humana Pharmacy Solutions, called the program a simple and cost effective approach that helps employers better predict costs and save money.
“Pharmacy is the most used health benefit, and providing new, unique pharmacy benefits services that best meet employers’ and members’ needs directly supports Humana’s mission of helping people achieve life-long health and well-being,” Fleming said.
Kinney Drugs names 2011 Pharmacist of the Year
GOUVERNEUR, N.Y. — Kinney Drugs announced on Thursday that supervising pharmacist James Murphy has been named the Kinney Drugs 2011 Pharmacist of the Year.
Murphy, who works at the store located at 119 Main St., Richfield Springs, N.Y., was selected based on customer votes at all 91 Kinney Drugs pharmacies in Central and Northern New York and Vermont.
In recognition of American Pharmacists Month, Kinney Drugs asked patients to help honor their favorite pharmacist by casting their votes for Pharmacist of the Year. The program was designed to recognize all Kinney pharmacists for their contributions to health care and their commitment to patient care and services.
At the end of the program ballots were tallied. Bridget-ann Hart, president and COO at Kinney Drugs, and several members of the executive committee honored Murphy with a plaque in recognition of his dedication, loyalty and achievements. He also received a monetary gift to donate to his charity of choice. Murphy chose Richfield Springs Food Bank as the recipient of his charitable donation.
“Jim consistently demonstrates his dedication and commitment to community pharmacy in all that he does for his customers; he is personable and caring, and always goes out of his way to take care of their healthcare needs,” Hart stated. “He is a devoted pharmacist, team leader and community member. We are extremely proud to recognize Jim with this honor — as he truly exemplifies the exceptional customer service and patient care provided by Kinney Drugs employee owners every day.” Murphy is a 25-year veteran with the company. He started with Kinney Drugs as a staff pharmacist and has since progressed to his current position as supervising pharmacist.
“It is a distinct honor to have been selected as the 2011 Pharmacist of the Year,” Murphy stated. “It is an even greater honor to know that this represents acknowledgement from our customers, the ones who are the driving force behind what we do each and every day. I feel extremely fortunate to work for a company that genuinely makes a difference in the community. I’m also very proud to work with a great team of employee owners who share the passion for serving our customers.”
Diplomat appoints Gary Rice as VP clinical services
FLINT, Mich. — Diplomat Specialty Pharmacy has appointed a longtime specialty pharmacy executive to its executive team, the company said Thursday.
Diplomat announced that it had made Gary Rice its VP clinical services. Rice had previously worked as Diplomat’s director of clinical services.
"One of Diplomat’s primary goals is to provide industry-leading clinical services to our patients and clients, and Gary’s long-standing career in pharmacy management demonstrates his success as a clinical leader," Diplomat president and CEO Phil Hagerman said. "In addition, Gary’s expertise in market and competitive intelligence will strengthen Diplomat’s innovation and growth efforts."
Before he began working for Diplomat, in June 2011, Rice was VP operatinos at ITSRx, and before that served as director of specialty clinical management at MedImpact Healthcare Systems, and VP retail and ancillary services and director of pharmaceutical services at the Kelsey-Seybold Clinic in Houston.