EnvisionRx Recognized as Top-Tier Pharmacy Benefit Manager by Accrediting Organization, URAC

PRESS RELEASE:  EnvisionRx, a pharmacy benefit manager (PBM) and division of EnvisionRxOptions, a wholly owned subsidiary of Rite Aid Corporation, today announced that it has achieved renewal of the Pharmacy Benefit Management accreditation by URAC. EnvisionRx is one of only 27 PBMs to receive this accreditation, which Envision has held since 2006. This demonstrates a continuous, comprehensive commitment to quality care, improved processes, transparency and better patient outcomes.

The URAC 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 leading indicators are non-weighted, optional elements highlighting effective practices not yet widely adopted in healthcare. They allow a URAC-accredited organization to distinguish itself from other accredited organizations. Leading indicators may provide a forecast of where the healthcare industry may be heading.

“Envision was built on a progressive idea that gave plan sponsors real transparency in the management of their pharmacy benefit," said Matthew Gibbs, president of commercial and managed markets for EnvisionRx. "Because we provide this level of clarity, Envision has to make sure we run an efficient, effective PBM for both our payer clients and their members. The renewal of our URAC accreditation is proof that Envision continues to integrate new ideas with a focus on quality, and that our approach improves cost and care for patients, as well as health plans, labor groups and employers of all sizes."

Pharmacy Benefit Management Accreditation Demands Proof of Transparency

URAC’s Pharmacy Benefit Management Accreditation standards facilitate transparency by ensuring that accredited organizations have a mechanism for clients to verify that financial disclosures are comprehensive and accurate. Envision launched the first fully transparent PBM in 2001, offering payers a completely open and supportive partnership that is auditable down to the claim level.

Additionally, URAC’s standards include customer services and communication, as well as pharmacy distribution channels related to access, availability, quality and safety across retail, mail order and specialty pharmacy channels. Accredited organizations must also focus formulary decisions on the safety, efficacy and therapeutic need for drugs first, and focus on cost only after these considerations are met.

“URAC accreditation shows that EnvisionRx is a pharmacy benefit management organization able to adhere to standards that cover important aspects of care such as claims processing, developing proper drug formulary, and consumer access,” said URAC President and CEO Kylanne Green. “Quality policies and procedures are paramount as the price and complexity of medications rise. EnvisionRx chose to demonstrate their performance through URAC’s independent accreditation of their services.”

EnvisionRx also holds URAC accreditation in Drug Therapy Management, and EnvisionPharmacies, also a division of EnvisionRxOptions, is accredited by URAC for Mail Order Pharmacy and Specialty Pharmacy.

“We are re-inventing the way people think about healthcare and improving the ways they access life-changing medications,” said Gibbs. “It is not just our systems and processes that produce results. Our people go to work every day trying to improve the cost and quality of care for our members. We teach patients how to better manage their own conditions for a better quality of life.”