“Their founding mission is parallel to our own mission, which is to reduce operational costs by working together” ~Lana Oleen, MHEC Interim President
Minneapolis, MN (PRWEB) February 10, 2011
The Midwestern Higher Education Compact (MHEC) has awarded National CooperativeRx a competitive bid to help higher education institutions in the compact’s member states with their pharmacy benefit costs.
As part of MHEC’s exploration into implementing regional initiatives to improve higher education productivity for universities, colleges, community colleges and technical schools that continue to face increasing costs in employee and student health care, National CooperativeRx has been selected to help control prescription drug costs. A successful pharmacy collaborative, National CooperativeRx will administer a program to provide Pharmacy Benefit Management (PBM) services through a contract with CVS Caremark.
“After careful evaluation of our options, National CooperativeRx received our highest recommendation for pharmacy benefits,” explained Lana Oleen, MHEC interim president. “Their founding mission is parallel to our own mission, which is to reduce operational costs by working together.”
“We offer MHEC institutions the best of all worlds when it comes to prescription benefits,” said Greg Horstman, CEO of National CooperativeRx. “We already negotiate high value prescription benefits for hundreds of thousands of enrollees, plus we work with the nation’s largest pharmacy provider. That purchasing power instantly becomes MHEC’s purchasing power. MHEC will get the personalized attention that comes from member-ownership and the directive to focus on service and value,” he added.
MHEC and National CooperativeRx will begin to implement the program immediately.
About MHEC and National CooperativeRx
MHEC, a 12-state higher education compact based in Minneapolis, has been committed to cost-savings programs, student access and policy research and analysis in the Midwest since its formation in 1991. The organization’s programs and services have been directed by the institutions through volunteer committees. MHEC has taken advantage of campus expertise in order to establish criteria and standards tailored to meet the needs of the colleges and universities in MHEC states. While savings are important, MHEC also looks beyond this to bring additional services from the vendor back to the institution.
National CooperativeRx, a division of WisconsinRx, was created when employers and labor organizations came together to control their overall drug spend, make better decisions with better data and gain access to transparent information about their pharmacy management. Today, the not-for-profit cooperative has 450 public plans, private employers and labor coalitions as members.