PRESS RELEASE: EnvisionRx, a pharmacy benefit manager (PBM) and division of EnvisionRxOptions, a wholly owned subsidiary of Rite Aid Corporation, today announced it has achieved renewal of the Drug Therapy Management (DTM) accreditation by URAC. This accreditation recognizes healthcare organizations that provide innovative ways to manage and incorporate DTM into their clinical care management programs. EnvisionRx is one of only four organizations to accomplish this accreditation, which Envision has held since 2007.
URAC is a third-party accrediting organization with a mission of promoting continuous improvement in the quality and efficiency of healthcare management. The accreditation process demonstrates a commitment to quality services and serves as a framework to improve business processes through benchmarking organizations against nationally recognized standards. URAC’s DTM accreditation standards assess a range of professional activities, including formulating medication treatment plans, monitoring efficacy and safety of medication therapy and enhancing medication adherence through patient empowerment and education.
“EnvisionRx is part of an elite group of just four organizations nationwide that meet URAC’s rigorous standards for quality and accountability in Drug Therapy Management,” said Frank Sheehy, CEO of EnvisionRxOptions. “EnvisionRx provides extensive clinical options that better manage increasingly complex conditions and make medications more affordable for both patients and plan sponsors. By integrating our PBM services with our URAC-accredited specialty pharmacy, EnvisionPharmacies, we are better able to manage the necessary drug therapies for costly, chronic conditions, and through our EnvisionCare model, we optimize all aspects of the pharmacy care experience to consistently achieve better patient and plan outcomes.”
Increase in Chronic Conditions and Costly Specialty Medications Drive Need for Drug Therapy Programs
According to the Centers for Disease Control and Prevention (CDC), half of U.S. adults have at least one chronic disease—heart disease, stroke, cancer, type 2 diabetes, obesity, and arthritis—and one in four have more than two of these conditions. Complex in nature, these chronic conditions are costly and a top cause of death. Many chronic conditions require expensive specialty medications that can have severe initial side effects and often increase the patient’s cost share, and dramatically increase the rate at which patients abandon their prescribed therapies.
Drug Therapy Management programs play an important role in the proper management of chronic conditions, leading to better disease control, reduction in disease-related complications, and overall improvement in health. Additionally, DTM programs integrated with a specialty pharmacy help improve patient adherence to prescribed drug therapy, reduce medication and healthcare costs, and ensure safe and effective pharmacy care.
“By meeting rigorous quality standards and measures, URAC has accredited EnvisionRx as a recognition of its ability to adhere to the best practices related to factors such as coordinated care, counseling and education, and consumer protection,” said URAC President and CEO Kylanne Green.
The URAC DTM accreditation ensures that an organizations’ DTM program achieves the ability to drive appropriate therapeutic outcomes for consumers and reduce adverse events; promotes rational, clinically appropriate, safe and cost-effective DTM through evidence-based medicine; encourages communication about medication use; and creates processes for the measurement of DTM outcomes and quality improvement.
“We take our role of ensuring safe and effective pharmacy care very seriously,” said Sheehy. “It is our job to make sure that patients in our care understand their medications and ensure appropriate use. This nod of accreditation by URAC is just another affirmation of our company’s commitment to the overall improvement of healthcare.”
As a healthcare company that owns all of the pieces needed to fully optimize the pharmacy care experience, EnvisionRxOptions also holds URAC accreditations for its pharmacy benefit management division and mail order and specialty pharmacies.