New York, NY (PRWEB)
August 07, 2017
The outcome of a contract between Truveris and the State of New Jersey to assist with reducing the State’s prescription drug spend will result in a savings of approximately 18% on a new three-year contract with OptumRx.
New Jersey becomes the first state government to use Truveris’ technology platform across multiple employee populations. The cooperation between the legislature, unions and the State on behalf of the taxpayers of New Jersey was essential in opening up an enormous opportunity for costs savings on the prescription drug program.
More than 300 employers ranging from small- to medium-sized businesses and local labor unions to large, multi-national corporations with more than 50,000 employees are saving money through the Truveris TruBid platform. Truveris technology has helped negotiate coverage for nearly 7 million people and has influenced more than $9 billion of pharmaceutical spend.
“This was an amazing coalition that worked together on a number of levels to achieve unprecedented results for everyone in New Jersey,” said Faisal Mushtaq, Truveris President and CEO. “New Jersey has multiple contracts which made the challenge even greater, but this was not a unique situation for Truveris, our technology delivered across the State’s multiple benefit plans, demonstrating the versatility and scalability of our team and our platform.”
According to Mark Blum, Executive Director of America’s Agenda, the contract and its results presented a major paradigm shift for elected state leaders and public worker unions. Blum’s organization is the non-profit health care coalition and think tank that proposed the strategy and worked closely with New Jersey public employee unions and elected officials to carry it out.
“We are putting in place a unique and innovative program that will provide quality prescription medicine for public employees at the same time it realizes cost savings,” said Senate President Steve Sweeney, who spearheaded efforts to put the program in place, working with public employee unions, state officials and America’s Agenda. “Prescription drug benefits will be fully protected with reduced costs for the taxpayers. We worked together in a true partnership on a program that puts New Jersey in the forefront of health care practices.”
New Jersey Education…