PORTLAND, Ore. – Today, Regence and MedSavvy announced the launch of a new service to provide consumers with more transparency in medication pricing. Called Savvy Pharmacy Shopper, the easy-to-use online tool enables consumers to compare real-world medication costs at different pharmacies close to them, based on their individual health plan benefits.
“MedSavvy is demystifying how to find clinically-effective and affordable medications,” said Angela Dowling, Regence’s chief revenue officer. “We’ve seen strong traction over the past year from Regence employers and members for this service. As drug prices continue to climb, MedSavvy is giving our members control so they can make smarter choices for their health.”
With MedSavvy and the new Savvy Pharmacy Shopper, consumers can now compare medications based on effectiveness, cost, reviews and access to help find the treatment that works best for them. The service simplifies critical information in a way that is useful and easy-to-digest for consumers.
“Imagine the ability to price check medications the way you compare travel costs across different airlines before purchasing,” said Sean Karbowicz, MedSavvy’s founder and general manager. “Medication costs can vary by pharmacy and even vary within the same pharmacy over time. To help improve access and value, we developed Savvy Pharmacy Shopper to offer consumers an unprecedented health care shopping experience.”
The Savvy Pharmacy Shopper search tool sorts by ZIP code, distance and price for easy cost comparison. In addition, it reflects a member’s out-of-pocket costs before and after meeting the deductible. Savvy Pharmacy Shopper is part of the MedSavvy product and currently available to Regence members who have access to MedSavvy through their health plan.
Regence serves more than 2.4 million members through Regence BlueShield of Idaho, Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield (select counties in Washington). Each health plan is a nonprofit independent licensee of the Blue Cross and Blue Shield Association. Regence is part of a family of companies dedicated to transforming health care by delivering innovative products and services that change the way consumers nationwide experience health care. For more information, please visit regence.com.
Led by a team of specially trained licensed pharmacists, MedSavvy is pulling back the curtain on the world of prescription drugs to allow patients and doctors to make better decisions about their treatment options. Founder Sean Karbowicz R.PH., PharmD., and his team created a search-and-compare engine that allows people to search for around 100 conditions and nearly 1,000 treatments. MedSavvy uses a report-card-style rating system to help explain medication effectiveness and combines that information with details about cost, side effects, safety and user reviews that any patient can understand and feel empowered to use. As an independent third party, MedSavvy is moving the health care industry forward, into an age of true transparency, empowering people to access real pharmacists, have educated conversations with their doctors about their treatment options, and save money. For more, visit medsavvy.com.