Introducing The VeracityRx App

Bringing the Power of AI to Prescription Drug Savings

The VeracityRx App delivers the unique capability to alert individuals to medication savings using real-time, personalized data and insights, coupled with geo-location features.

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Case Studies
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Veracity clients can spend 30-40% less than the national average on healthcare.

 

631

Employee Group

59%

Rx Cost Reduction

$1M

Surplus on Claim Account

Logistics Provider

Transportation

Challenge:

A fully-insured logistics provider had no control over spending or provider contracts. They also had no ability to impact their plan other than reducing benefits.

Solution:

This logistics provider was moved to partial self-funding with a TPA and PPO network, and implemented parts of VeracityRx’s pharmacy program in the first year with a specialty program in the second year.

Results:

As a result, the logistics provider saw:

  • No rate increases for 3 years
  • $1M surplus on their claims account
  • Pharmacy costs dropped from $166 PMPM to $68 PMPM

"Veracity Benefits is transparent. They have a unique product and they partner with and educate the plan from the beginning on how to save the most while ensuring a smooth transition."

- Benefits Broker

274

Employee Group

$520k

Savings to the Bottom Line

Furniture Manufacturer

Manufacturing

Challenge:

A furniture manufacturer was with a TPA and facing two lasers in the amounts of $340,000 and $180,000 based on high-cost specialty drugs.

Solution:

This manufacturer decided to stay with their TPA, however, carved out their pharmacy to VeracityRx and implemented the full program, including specialty care management.

Results:

The manufacturer was able to get their specialty drugs covered at no cost to the employer, resulting in a $520,000 savings to the company’s bottom-line within one year.

"Veracity Benefits is diligent in seeking ways to deliver an exceptional benefits program and provide quality support of operations."

- HR Director

2183

Employee Group

14%

Millage Rate Reduction

Municipality

Government

Challenge:

A municipality was struggling to control physician costs, particularly specialty care referrals, for an indigent population.

Solution:

A program was established requiring the implementation of on-site clinics for primary care and care management.

Results:

Within one year, this municipality was able to:

  • Save their budget
  • Reduce the millage rate by 14%

“Veracity Benefits is a partner in the fullest sense of the word for our employee health benefits program. The choice we made to engage Veracity has been affirmed throughout the relationship and through the achievement of our desired outcomes. We could not be more satisfied."

- University EVP

$0

Cost to Member

100%

Savings on Prescription

$11,100

International Drug Annual Savings

International Pharmacy

 

Challenge:

A member required 3 types of brand-name drugs needed to treat Type II Diabetes and blood clots. Due to the high U.S. retail price of brand-name drugs, the employer’s estimated annual cost was supposed to be $22,200.

Solution:

VeracityRx’s Pharmacist Concierge Service who works as the patient’s advocate was able to acquire the brand-name drugs internationally at half the cost. This resulted in a total savings of $11,100 annually for the employer and $0 cost for the member.

Results:

As a result, the member:

  • Was treated for Type II Diabetes, Blood Clots
  • Annual cost to member: $0

As a result, the employer:

  • Received 50% savings
  • Cost to employer: $11,100 vs $22,200

"VeracityRx gets more patients approved for assistance, saves more money for the employer and is more responsive than the other companies that do patient assistance programs."

- HR Lead

$0

Cost to Employer and/or Member

100%

Savings on Prescription

$492,000

Specialty Drug Annual Savings

Member

 

Challenge:

Due to the tier level of the specialty drug, the member’s estimated monthly cost was supposed to be $41,000.

Solution:

VeracityRx’s Pharmacist Concierge Service who works as the patient’s advocate was able to acquire the specialty drug for one year at no cost. This resulted in a total savings of $492,000 annually.

Results:

As a result, the member:

  • Was treated for the condition
  • Cost to the employer and/or member: $0
  • $492,000 saved

"VeracityRx worked with us every step of the way to take care of our employees on Specialty Medications. The transition has been smooth."

- Benefits Broker