Scottsdale-based NewAm Health, LLC announces the launch of its first prescription drug plans, NewAm Health Rx, designed for self-insured employers. While such employers offer various health insurance plans to their employees, few offer easy access to affordable prescription drugs. NewAm Health Rx fills that need.
Rick Randall, President & Co-Founder, notes “NewAm’s products enable employees and family members to pay lower costs for the medications they need, often at less than half the prices they’d pay using typical discount card programs. Few patients know that identical prescriptions can cost radically different amounts at different pharmacies. Our solutions make getting lower cost drugs simple!”
NewAm Health Rx uses NewAm NavigationSM to drive patients to the lowest cost retail locations by providing competitive prescription pricing information to the patient’s smart device. Comparison shopping is done before the individual heads to a higher-priced pharmacy. Individuals – and their employers – will save money simply by having the prescription filled at a nearby, lower cost pharmacy.
During the next two years, NewAm will expand its platform to include new payment plans for broader medical benefits focused on eliminating the barriers to getting care, such as co-pays, deductibles and co-insurance. Larry Aldrich, CEO & Co-Founder, states “for too long, employers have implemented health benefits that can actually get in the way of the right care. By using NewAm’s solutions, employers can use those benefits and better help their employees worry less about their and their families’ health care costs.”
NewAm Health has been developing its platform and strong relationships with key partners since 2017. In addition to Aldrich and Randall, NewAm is supported by an experienced management team, including Frank Baselice (VP, Marketing); Rory Rickert (VP, Pharmacy Services]; Mark Schwartz, PhD (VP, Strategic Alliances); and Jody Yarbrough (VP, CFO). Its advisory board includes Jon Wilson (retired from Eli Lilly and Company; Principal, Corsa Management Group) and John Zidich (retired President of Domestic Publishing and Publisher of USA Today/Gannett Company).