To provide cheaper generic drug pricing, Optum Rx launched Price Edge

The pharmacy services division of UnitedHealth Group, Optum Rx, has introduced Price Edge, a tool that contrasts the cost of standard generic medications available straight to consumers with the cost of insurance. The aim is to guarantee members the most affordable prescription medicine prices.

All Optum Rx customers are eligible for Price Edge, the business announced this week.

Optum Rx promoted the technology as an improvement to the business’s capacity to provide a lower price on generics at a rate of roughly 90%. According to the company, Price Edge automatically gives members the lowest accessible cost after searching the market for generic drug prices.

Pricing Edge automatically applies a reduced price if it is available to the member besides their insurance benefit, according to Optum.

Price Edge differs from other direct-to-consumer pharmacy solutions or cash market pricing, according to Optum Rx, in that transactions started through it contribute toward the member’s deductible and out-of-pocket maximum.

In addition, there are no additional administrative costs for plan sponsors to implement Price Edge, and members of such plans have free automatic access to the tool. The company claimed that Price Edge preserves continuity of safety protocols and protects against drug contraindications by documenting all transactions inside the member benefit.

It’s the most recent in a line of goods and equipment intended to enhance both the patient and healthcare professional experience at pharmacies. PreCheck MyScript, a different Optum product, provides real-time data on a patient’s pharmacy benefits and formulary to enable prescribers choose the best medication, get any necessary prior authorizations, and view prescription pricing.

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According to Optum Rx, solutions like MyScript Finder and Proactive Savings Alerts give customers, clients, and providers access to information they need to make wise healthcare decisions. This information includes real-time prior authorization, point-of-sale rebates, and notifications of savings opportunities.

The Department of Justice contested the order to merge Optum and Change Healthcare in November despite the merger becoming effective in October. The projected $13 billion merger brought together Change Healthcare, one of the biggest electronic data exchange clearinghouses in the country, with UnitedHealth Group, the parent company of the biggest health insurer in the country.

Before the merger took place, the DOJ tried to stop it. On September 19, a judge found in Optum and Change’s favour. The DOJ’s argument was based on the sensitive information about competitors’ business practises that UnitedHealth would acquire through the acquisition of UHG subsidiary Optum Insight and Change. The American Hospital Association expressed worries on antitrust.

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