Howden Re partners with Rescription
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Howden Re has partnered with Rescription, a company which has developed a pharmaceutical drug database platform designed to offer prescription drugs at the lowest prices, to give clients access to substantial savings on high-cost and specialty drugs that average 70% or more of an employer’s total cost.
This partnership creates more competitive reinsurance rates for clients, by guaranteeing published prices and lower prescription drug costs.
Tae Kim, Executive Director, Howden Re commented, “Howden Re aims to partner with innovative, solution-based companies. Rescription has tapped into unparalleled pricing that changes the way employers cover prescription costs for their employees, all without sacrificing quality or access to the drugs that members and their families need.”
Scott Martin, Founder & CEO, Rescription, Inc commented, “Partnering with Howden Re allows us to offer an innovative, full-service solution to an important and expanding market. We are thrilled that our model has been selected by such a world-class organization, reflecting our commitment to transforming how employers deliver top-level patient care to their employees.”
The partnership will allow savings to be unlocked on the most expensive medications for our clients, allowing businesses to fully replace the incumbent PBM by introducing $0 co-pays on these drugs.
Businesses who adopt this model through Howden Re could see savings of up to 70% on high-cost prescription drugs and 20-40% savings on overall prescription drug spending.