VerusRx is a pharmacy benefits management company that utilizes a transparent pricing model to negotiate discounts from pharmacies and rebates from pharmaceutical manufacturers, directly passing these savings to members. By aggregating the collective buying power of self-funded companies, TPAs, and brokers, VerusRx addresses excessive drug pricing, significantly lowering costs for end users.
Funding
Funding not disclosed
Founders
Product
Problem
Self-funded companies, Third-Party Administrators (TPAs), and brokers face challenges in managing prescription drug costs due to a lack of pricing transparency and the complexity of pharmaceutical manufacturer rebates. This often leads to excessive drug pricing and increased healthcare spending for both employers and members.
Solution
VerusRx is a Pharmacy Benefits Manager (PBM) that provides a transparent pricing model, negotiating discounts from pharmacies and rebates from pharmaceutical manufacturers. These savings are directly passed on to members, reducing overall prescription costs. By aggregating the buying power of self-funded companies, TPAs, and brokers, VerusRx aims to combat high drug prices and deliver significant savings. The company offers customized plans, tailoring co-pays and designing benefit options to meet specific client needs, while also providing a robust pharmacy network.
Target Audience
VerusRx primarily serves self-funded companies, Third-Party Administrators (TPAs), and brokers seeking to manage and reduce prescription drug costs for their employees or clients.
Features
- Transparent pricing model with fully disclosed fees and no hidden clauses.
- Negotiation of discounts from pharmacies and rebates from pharmaceutical manufacturers.
- Customized plan design, including tailored co-pays and benefit options.
- Access to a broad pharmacy network.
- Gio App: A virtual pharmacist assistant mobile application for members.
- Customer-centric approach with clinically appropriate therapies.
- Commitment to fully pass-through manufacturer’s rebates and negotiated pricing improvements.