EmpiRx Health, the leading clinically-driven pharmacy benefits management (PBM) company that puts pharmacists at the center of its service model, has officially confirmed Giant Eagle’s decision to select it for managing pharmacy benefits of the latter’s employees.
Under the agreed terms, EmpiRx Health is collaborating closely with Giant Eagle’s team, inclusive of expertly trained pharmacists, to provide its employees with the highest quality pharmacy care, while simultaneously partnering to control prescription drug costs.
EmpiRx Health and Giant Eagle also took this opportunity to reveal that they are working together to create a national network of pharmacy chains and benefits plan sponsors who, on their part, will collaborate to transform pharmacy benefits care. The primary goals of the new network will be improving patient health outcomes and solving the national crisis of skyrocketing drug costs.
You see, these rising prescription drug costs pose a serious challenge to the healthcare system, with the same especially applicable for private benefits plans that more than 180 million Americans rely on for their healthcare.
“At Giant Eagle, we have always been laser focused on what’s best for our customers and Team Members,” said Janis Leigh, Executive Vice President and Chief People Officer, Giant Eagle, Inc. “EmpiRx Health’s patient-first operating approach ensures that our Team Members can receive the highest quality pharmacy benefits and care, ensuring their health and well-being and providing affordable prescription drug costs.”
To contextualize problem even further; we must take into account how prescription drug costs have been rising by more than 5% a year and are a primary driver of overall healthcare spending in the US.
The problem is especially acute in the specialty drugs category. You see, right from 1990 to 2024, the FDA has gone from approving just 10 specialty medications to nearly 400 that are available today. As a result, 80% of the new drugs being approved by the FDA today are specialty medications.
In response to this crisis, EmpiRx Health will bring forth a pharmacist-led pharmacy care approach for Giant Eagle and other clients, along with several other proven, powerful benefits.
“EmpiRx Health is an innovative partner that puts the pharmacist at the center of pharmacy care,” said Jim Tsipakis, Giant Eagle’s President, Supermarkets & Pharmacy. “We are excited not only for the benefits our Team Members will receive, but also for the unique opportunity ahead to bring together other pharmacy chains and benefits plan sponsors to improve health outcomes for all patients.”
Taking a deeper view of all the benefits that EmpiRx Health will provide, we begin from the promise of guaranteed clinical savings. This translates to how the company is going to generate 3:1 ROI on clinical savings. If EmpiRX fails to meet this clinical savings benchmark, it will markedly pay clients back dollar for dollar.
Next up, there is the potential for member care advocacy, as EmpiRx Health’s Member Care Advocates will proactively reach out before common issues arise, ensuring the members feel well cared for.
Another detail worth a mention is rooted in the company’s bid to offer one of the only open formularies in the PBM industry. The stated offering directly indicates greater coverage and less disruption for members.
Beyond that, the company will unlock access to its high-touch, leading-edge client service.
“We are thrilled to be Giant Eagle’s new PBM provider,” said Danny Sanchez, Chief Executive Officer of EmpiRx Health. “From our very first discussions with the Giant Eagle team, it was clear they were looking for a PBM partner that put their interests, and those of their employees, first. We do that by always staying focused on improving the health outcomes of Giant Eagle’s employees, while helping the company to significantly reduce its drug spending and costs through our unique pharmacist-led PBM model.”
