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RxResults
HCID Member | Healthcare Services
16609 Cantrell Rd Suite 13
Little Rock, AR 72223 USA
phone:501-258-1080
fax:888-367-9505
Symbol Private
Founded 2008
Employees 4
www.rxresults.com
Research Sector Healthcare Services
Summary Description
Evidence based medicine service based upon drug efficacy and cost containment.
Management
Tery Baskin, PharmD, CEO; Alan Gardner, MBA, VP Operations; John Mann, VP Business Development.
Keywords
pharmacy benefit managers, drug efficacy, pharmacy cost containment, evidence based medicine, specialty pharmacy cost containment, pharmacy outcomes



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Updated: Apr. 11, 2011

Description
RxResults provides formulary management that is independent and includes unbiased drug information from established evidence based sources. This model has market- proven pharmacy benefit cost savings and is focused on outcomes like cost, service and information not components like discounts, rebates and admin fees.
Products / Services
  • Delivery of formulary recomendations, drug coverage strategies and utilization management programs to various health plans and employers.
  • Gives customers cost control for pharmacy benefits.
  • Evidence based approach to the use of spcialty (biotech) drugs- which represent the largest growing categories of drugs over the next 5-10 years.
Technology / Differentiation
RxResults provides an independent, evidence based medicine and market- proven pharmacy benefit cost savings model.
The RxResults model is unlike existing affiliated systems that often fail to provide the lowest cost alternative for their client. This approach also utilizas a prior authorization call center that is staffed by pharmacists and physicians.
The RxResults client will see substantial cost savings to their pharmacy benefit program, while providing effective patient treatment.
The business model of RxResults is not dependent upon relations with pharmaceutical companies but solely focused upon results obtained by the client.
RxResults provides strategies to the client, oversees implementation, measures outcomes produced and reviews data for ongoing recomendations while existing PBMs will continue to provide claims processing functions such as adjudication, customer call center , data feeds and pharmacy network.
Market / Customers
In 1997, national prescription drug expenditures totaled $75.7 billion, or 6.9 percent of all national health expenditures. In 2003, prescription drug expenditures had more than doubled to $179.2 billion or 10.7 percent of all national health expenditures. Today many employers and health plans drug cost is 18-20% of total health care cost. Drug Expenditure statistics reflect an annual increase in prescription drug expenditures of more than fifteen percent for every year from 1998 to 2002, making prescription drugs the most rapidly increasing component of U.S. health care costs. Spending in the US for prescription drugs was $200.7 billion in 2005, almost 5 times more than the $40.3 billion spent in 1990.
Competitors / Substitutes / Alternatives
  • Rx Covered Lives
  • CVS/Caremark, RX, Inc.
  • Medco Health Solutions, Inc.
  • Express Scripts/CuraScript
  • ICORE Healthcare, Inc.
  • WellPoint NetRx
  • PharmaCare Management Services, Inc.
  • MedImpact Healthcare Systems, Inc.
Strategy
RxResults is counting on the outstanding reputation and access to world-class talent at the College of Pharmacy at UAMS, along with their current track record in pharmaceutical management, to be a significant competitive advantage.
Revenue / Funding
Company Seeks:
  • Venture Capital
  • Institutional Investor Awareness
  • M&A Advisors
  • Strategic / Corporate Partners
Status
RxResults has entered into an exclusive contract with the UAMS College of Pharmacy. RxResults is actively acquiring clients.