Subjects: Contract/Agreement, Product/Service
Navitus Health Solutions Makes Strategic Investment in WithMe Health to Strengthen Medication Guidance Capabilities and Curb Employer Medication Spend
Navitus Health Solutions, a full pass-through pharmacy benefit manager (PBM), today announced its strategic investment in WithMe Health, Inc., a medication guidance company. This investment and the developing relationship between Navitus and WithMe Health, expands Navitus' access to WithMe Health's medication guidance capabilities to ensure members are on optimal medications, getting the support they need to stay adherent, and they are responding to therapy, all with the goal of helping employers and members receive the most benefit from their medications.
Today, employers face healthcare costs of roughly $15,375 per employee, driven in large part by rising drug prices. The impact of this expense has been exacerbated by COVID-19's toll of company revenues.1 What's more, when employers invest in prescription benefits, their efforts are often ineffective because 29% of adults don't take their medications as prescribed.2 When members don't get the support they need around their medications, it drives up medical costs, placing an additional burden on employers while impacting members' health. Effective medication guidance from WithMe Health reduces medication spend waste.
"We have invested in WithMe Health because they share our belief that a modern alternative to a traditional PBM model is critical to help make prescriptions more affordable for employers, health plans and their members," said David Fields, CEO, Navitus. "We see immense value in WithMe Health's unique medication guidance model and the potential benefit it can provide for our clients by curbing wasteful medication spend and further improving member health."
Navitus' leading pharmacy benefit management services are built on a transformative pass-through approach, lowest net-cost formulary and outstanding clinical care model that work smarter and harder to deliver greater results. WithMe Health's medication guidance model personalizes medications to the individual and guides them at every step of their journey by leveraging a comprehensive, data-driven view of the member, with a pharmacist-led medication guidance team and modern technology that bring it all together. Navitus' partnership with WithMe Health brings employers and their members a high-touch, digital-first model that creates aligned interests in lowering spending, improving medication adherence and health outcomes, and delivering a better member experience.
"We are thrilled to partner with Navitus to drive down costs for employers and health plans, while also putting members in control of their health," said Joe Murad, CEO, WithMe Health, Inc. "Through this partnership, we will combine WithMe's medication guidance and Navitus' leading transparent PBM services to help both new and existing Navitus clients to better manage the complex medication journey and reduce medication spend waste."
About Navitus
Navitus Health Solutions, owned by SSM Health and Costco Wholesale Corporation, serves as a full pass-through pharmacy benefit manager (PBM) and industry alternative to traditional models. As such, Navitus is committed to taking the unnecessary costs out of pharmacy benefits to make prescriptions more affordable for hundreds of plan sponsors (i.e., employers, health plans, unions, governments, etc.) and their 7 million members. By combining a unique pass-through approach that returns 100% of rebates and discounts with a focus on lowest-net-cost medications and comprehensive clinical care programs, Navitus helps reduce costs and improve member health. To learn more about Navitus, call 877.571.7500 or visit www.navitus.com.
About WithMe Health
WithMe Health was founded on the belief that improved health outcomes and lower total cost of care can be achieved through better medication guidance. The company's personalized medication guidance solution tailors medication selection to the individual and guides members through every step of their medication journey. The company is headquartered in Silicon Valley and has raised $40 million. Follow WithMe Health on Twitter and LinkedIn. https://www.withmehealth.com.
For media inquiries, contact [email protected].
1Business Group on Health, 2020 Large Employers Health Care Strategy and Plan Design Survey: https://www.businessgrouphealth.org/resources/2020-large-employers-health-care-strategy-and-plan-design-survey
2Kaiser Family Foundation, Health Tracking Poll ? February 2019: https://www.kff.org/health-costs/poll-finding/kff-health-tracking-poll-february-2019-prescription-drugs/
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