(Paramus, NJ) – Bergen New Bridge Medical Center has partnered with Rescription, a Pharmacy Benefit Manager (PBM) replacement company that offers a more cost-effective medication option. This affordable and simple prescription drug model provides employers, their employees, and their families with a significant reduction in their prescription drug costs. On average, employers who utilize Rescription’s model are experiencing 25%-35% overall net savings by moving away from their traditional PBM.
At a time when prescription drug costs are rising rapidly, this new model is a viable solution for employers who want to provide their employees the medications they need at a cost that works for everyone without further dictating or limiting prescription alternatives.
Earlier this year it was reported that New Jersey’s rising health-care expenses will cost taxpayers $4 billion to cover public employees’ health insurance. The 2024 budget, starting July 1, includes a recommendation for a 7.4% increase for health benefits, or $280.5 million more than the 2023 budget, according to New Jersey’s Treasury Department.
Self-insured businesses in New Jersey, like Bergen New Bridge Medical Center, have a choice. With Rescription’s model, businesses can achieve:
an estimated 20%-30% overall savings
a 100% replacement of the current PBM
fully disclosed transparent drug pricing with zero markup
an easily comprehensible per member per month (PMPM) charge for the entire program
Bergen New Bridge Medical Center President and CEO Deborah Visconi was the first to launch the Rescription drug program in New Jersey. Visconi’s commitment to improving overall health equity for her 2,300 total members was strong motivation to initiate the replacement of their PBM with Rescription. The savings have been immediate and significant, including up to 70% on high-cost prescription drugs.
“The status quo model of PBMs that provide little to no price transparency, secret mark-ups, and soaring costs for specialty drugs needs to be a thing of the past,” said Scott Martin, Founder & CEO, Rescription, Inc. “Employers, their staff, and their families deserve so much better. We are the next generation PBM company. Our model offers refreshing clarity and true cost savings.”
“We are always looking for new and innovative ways to provide access to quality and affordable healthcare services to our staff and all those we serve,” said Bergen New Bridge Medical Center President and CEO, Deborah Visconi. “Our partnership with Rescription is another example of how we continue to lead the way as early adopters of forward-thinking solutions that benefit those who put their trust in us to provide them the highest quality and most cost-effective care possible.”
ABOUT BERGEN NEW BRIDGE MEDICAL CENTER
Bergen New Bridge Medical Center (BNBMC), a clinical affiliate of Rutgers, is a 1,070-bed hospital located at 230 East Ridgewood Avenue in Paramus, NJ. The Medical Center is both the largest hospital and licensed nursing home in NJ and the fourth largest, publicly owned hospital in the nation. Bergen New Bridge, a not-for-profit safety net facility, provides high-quality comprehensive services, including acute and ambulatory care, mental health and substance use disorder treatment, long-term care, 24/7 emergency department, surgical suites, physical rehabilitation, pharmacy, laboratory, radiologic services (including digital mammography. It is a leading provider of COVID 19 testing, vaccinations, and therapeutics. Bergen New Bridge is in network with all major New Jersey commercial insurance plans covering 99.91% of NJ residents and is a Veterans Community Care Provider. It is also a Leader in LGBTQ Healthcare Equality in the Human Rights Campaign (HRC) Healthcare Equality Index (HEI). Learn more at www.newbridgehealth.org.
Rescription is a full PBM solution that leverages the capabilities of its health system partners to create a cost-effective way to deliver pharmacy benefits. Rescription fully supports the change from a traditional PBM to its model that includes claim servicing, administrative, and retail network infrastructure. It leverages your pharmacy, specialists, and 340B purchasing capabilities to create a preferred network for patients and their families. All drugs are passed through at their sourced price, Rescription simply charges subscription-based fee per member. Employers can learn more about prescription drug savings opportunities at rescription.com. Contact: Whitney Slade, firstname.lastname@example.org, 415.595.5662