App aims to leverage digital technology to significantly reduce pharmacy costs.
Veracity Benefits and Levrx Technology have announced a strategic partnership with the launch of the Veracity Rx app. The app was developed with the goal of leveraging advanced digital technology to significantly reduce pharmacy costs by 40%-60% below the national average. According to a joint press release, the app provides members with efficient access to their pharmacy benefits and offers personalized, real-time data and insights for saving on medications.1
“Our collaboration with Levrx Technology is instrumental in streamlining our mission to digitize and promote pharmacy programs that yield optimal health outcomes and deliver financial results,” said James Davie, chief revenue officer, Veracity Benefits, in the press release. “The VeracityRx App is a testament to our commitment to providing cutting-edge solutions that benefit both employers and employees."
According to the companies, the primary features of the platform include increased benefit programs, improved employee satisfaction, reduced disruptions, simplified prescription management, and the opportunity for brokers to provide a unique solution to clients.1
"Working with organizations like Veracity Benefits, which prioritize transparency and advocacy for their members, is revolutionizing the pharmacy experience,” said Vikram Agrawal, CEO, president, Levrx Technology, in the release. “The VeracityRx App is a result of our joint commitment to enhancing efficiency and cost-effectiveness in the healthcare industry."
This isn’t the first time Levrx has teamed up with another company in an effort to address the high cost of prescription medications. Last year, the company announced a collaboration with Drexi aimed at helping patients find the best deals on prescription drugs. According to the company, its platform provides Drexi members with the ability to request a switch to lower cost medications or pharmacy locations, allowing Drexi to focus on helping members save money and navigate the more complicated aspects of the pharma industry.2
"Our goal was to put the member back in the driver's seat by providing them with a tool that tells them exactly where they can get their medications for the very best price in their market," said Anthony Masotto, executive vice president of Pharmacy, Drexi, in the release. "Our partnership with Levrx provides real-time and reliable information to members so they can easily choose what's best for them."
"Our technology gives patients and providers the information needed at the point-of-care to find the best Rx option. Together, Drexi and Levrx help patients save money and improve the pharmacy experience," added Vikash Agrawal, executive chairman, Levrx Technology.
1. Introducing The VeracityRx App: Bringing the Power of AI to Prescription Drug Savings. PR Newswire. January 31, 2024. Accessed January 31, 2024. https://www.prnewswire.com/news-releases/introducing-the-veracityrx-app-bringing-the-power-of-ai-to-prescription-drug-savings-302049435.html
2. DREXI PARTNERS WITH LEVRX TECHNOLOGY TO EMPOWER MEMBERS TO FIND THE BEST PRESCRIPTION PRICES. PR Newswire. May 10, 2023. Accessed January 31, 2024. https://www.prnewswire.com/news-releases/drexi-partners-with-levrx-technology-to-empower-members-to-find-the-best-prescription-prices-301821367.html