BETTER HEALTH FOR LESS MONEY

We educate, motivate and empower consumers of prescription drugs to save money.

Our Solution

Our Solution

For Employers

Let the team at Rx Savings Solutions use their cost-saving methods to engage, educate and empower your employees to become wise consumers of prescription drugs. This benefit not only helps your employees save money, but greatly reduces your costs as well!

For Employees

There’s no hiding the fact that overall healthcare spending is on the rise, and prescription drugs are no exception. The Centers for Medicare and Medicaid Services projects that annual expenditures for prescription drugs could increase by 86% from 2011 to 2020.

As pharmacists we recognized
the need for a solution to increasing
healthcare costs and proved we can create extraordinary savings for our members.

Michael Rea, PharmD
founder and ceo

The problem with prescription pricing

Prescription drug expenses are rising at alarming rates and make up a large portion of benefit-related expenses for employers. According to Kaiser Permanente, medication-related costs increased an average of 11% annually from 1996-2008. Most employers are not equipped to effectively manage this expense on their own. Rx Savings Solutions is a company advocating for employers and incented to align with them to address this problem together.

Our bright idea

Rx Savings Solutions was established in 2008 with one goal in mind – to educate, motivate and empower consumers of prescription drugs to save money. This continues to be a focus of our service; however, the company simultaneously focuses on saving payers, namely self-insured employers, money as well. In fact, historical data has shown employers save an average of 5-6 times what their employees experience.

Savings through analysis

We use a patented software platform to deliver our solution to employers and their covered members. By using our service to educate employees on savings opportunities, employers can rely on their employees to make the right choice thus saving both parties money. Rx Savings Solutions supports a collaborative approach where employers offer our consumerism solution in order to deliver proper information to their employees, which ultimately leads to savings for everyone.

Our mission

To engage and empower consumers of healthcare by providing them with information they have a right to know.

Executive Team

    Michael Rea, PharmD

    / Founder and CEO

    Dr. Rea founded Rx Savings Solutions in 2008 after routinely witnessing consumers struggling to pay for their medications. He noticed quickly at that time that consumers were paying much more than they needed to, which was attributable to a lack of information available to them. He set out on his mission to arm consumers with this information and add efficiency and transparency back in to the world of pharmacy. Dr. Rea has been involved with research surrounding pharmacy transparency for over 10 years. He received his Doctor of Pharmacy degree from Creighton University.

    Douglas Besch, PharmD, MBA

    / Chief Operating Officer

    Dr. Besch has substantial experience working as both a transparency researcher and in retail pharmacy. He is the acting Chief Operating Officer and leads the Rx Savings Solutions team with day-to-day operations. Dr. Besch holds a doctor of pharmacy degree from the Creighton University School of Pharmacy and Health Professions and a master's degree in business administration from the Creighton University College of Business.

    Drew Komenda

    / Chief Revenue Officer

    Drew Komenda is a high performing veteran of the healthcare industry and a proven entrepreneurial leader. Drew spent more than a decade negotiating, consulting and working alongside physicians, hospital systems, group purchasing organizations and integrated delivery networks for Johnson & Johnson. Drew has a deep understanding of the business and substantive delivery of healthcare.

    Shahryar Qadri

    / Chief Technology Officer

    Shahryar Qadri is a seasoned health information technology leader. Shahryar spent 11 years at Cerner in a variety of engineering and managerial roles including developing data warehouses, implementing business intelligence strategies, designing systems for real-time eligibility and claims adjudication, creating a Third Party Administrator organization and leading edge development for on-site health centers, wellness programs and provider networks. Shahryar received his undergraduate and graduate education in computer science from Creighton University.

    Brandy Rea

    / Chief Legal Counsel

    Brandy Rea has a wealth of experience in corporate law, including facilitating mergers and acquisitions, negotiating complex contractual arrangements, and assisting in corporate governance and management. Before joining Rx Savings Solutions, Ms. Rea specialized in providing her legal expertise to entities in the health care industry, including to pharmacies and pharmacy benefit managers. Ms. Rea not only advised such clients on corporate legal matters but also assisted health care entity clients in navigating through complex health care laws and regulations. Ms. Rea graduated from Creighton University School of Law, magna cum laude.

Our Clients

Latest News

Hospitals, doctors funded consumer opposition to insurance mergers

Hospital and doctor groups helped fund the consumer opposition to the two big health insurer mergers the Justice Department sued to block Thursday.

Consumers are the winners in Justice's decision, says Michael Rea, CEO and founder of Rx Savings Solutions, which negotiates drug prices for insurance companies.

"At the end of the day, they are the ones carrying the financial burden and more competition will demand increased innovation and efficiency from the market," Rea says.

  • July 21, 2016

Drug Prices - We Are Not Helpless

Over the past 10 months, the discussion about drug prices in the United States has never been so hotly debated. It has sparked interest and concern from every angle - individual consumers, employers and health plans - no one is immune from the financial pain. The media and political interest on the topic has brought the focus into the living room of every American household.

While regulation of drug prices set by manufacturers is being called for on a more routine basis, I don't believe it will solve the problem. To combat and fight back against all of the economic forces that affect drug prices, we must empower those people making the choices about what to buy, where to buy it and whether or not they'll make the purchase at all.

  • July 14th, 2016

Federally funded institute avoids comparing drugs, other treatments

An institute that pays researchers to compare medical treatments has spent only half of its more than $1.4 billion in available federal money on what is called comparative effectiveness research and has largely ignored prescription drugs, despite their role in driving up health care costs, according to a study released Tuesday by a Washington-based policy group.

The research into the comparative effectiveness of treatments and pharmaceuticals is meant to determine if lower-cost options provide the same benefit as more expensive procedures and drugs.

Click here to watch video

  • May 31, 2016

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