WILMINGTON, Del.--(BUSINESS WIRE)--Truveris, a leading healthcare technology company focused on reducing pharmacy spend, announced today that they are collaborating with Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs), to drive pharmacy transparency and make prescription drugs more affordable.
"We are thrilled to collaborate with Truveris in our mission to make prescription drugs more affordable for consumers," said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “At Cost Plus Drugs, our commitment to transparent drug pricing has always been unwavering, and with Truveris, we are dedicated to providing affordable and accessible healthcare solutions for all."
As a completely independent and objective pharmacy benefits partner, Truveris drives prescription drug affordability through pharmacy contract expertise and technology. Truveris and Cost Plus Drugs are aligned on driving innovation and disrupting traditional pharmacy benefit models. “Over the past 15 years, we’ve worked to drive more than $7B in pharmacy benefit savings. Truveris is proud to continue to play a pivotal role in helping employers control pharmacy spend as Cost Plus Drugs' first collaborator in pharmacy contracting expertise,” said Nanette Oddo, Chief Executive Officer, Truveris.
Truveris drives down pharmacy program costs for employers by introducing Pharmacy Benefit Manager (PBM) competition during procurement and ensuring ongoing PBM plan performance by monitoring 100% of processed claims. Through an enhanced pharmacy RFP process, Truveris provides employers with in-depth evaluations of how PBMs and pharmacy vendors engage with transparent pharmacies like Cost Plus Drugs. During the RFP process, Truveris analyzes financial and contractual terms around transparent pharmacies, including which specialty drugs would be dispensed through specialty pharmacy networks and the impact of drug shifts associated with specific transparent pharmacies, such as Cost Plus Drugs. This empowers employers with unparalleled insights into transparency practices of potential PBM partners, enabling more informed decision-making when choosing a pharmacy partner.
For more information about Truveris, please contact info@truveris.com.
About Truveris
Truveris is a leading healthcare technology company focused on transforming and reducing pharmacy spend. Truveris has built the only independent, data-led, tech platform that creates complete PBM pricing transparency and drives competition to reduce costs for employers. Our solutions replace traditional pharmacy procurement and renewal models for self-insured employers by providing deep insights, comparative procurement, 100% claims analysis, and member engagement solutions. For more information on our solutions, visit www.truveris.com.
About Mark Cuban Cost Plus Drug Company, PBC
The Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. Cost Plus Drugs transparently charges a standard markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 now carries over 2,300 prescription products, delivered by mail to thousands of happy customers every day. Customers can also go to participating retail pharmacies to receive Cost Plus Drugs pricing through the Team Cuban Card. Cost Plus Drugs is working with health plans, managed-care organizations, pharmacy benefits managers (PBMs) and self-insured employers to bring these same savings to employer-sponsored benefit plans nationwide.
