Twinsburg, OH, July 14, 2020 (GLOBE NEWSWIRE) -- EnvisionRx, a pharmacy benefit manager (PBM) and division of EnvisionRxOptions, a wholly owned subsidiary of Rite Aid (NYSE: RAD), today announced it has received renewal of the Drug Therapy Management and Pharmacy Benefit Management accreditations from URAC, both of which the company has held since 2007.
URAC is a non-profit organization with a mission to advance quality in healthcare through leadership, accreditation, measurement and innovation. The accreditation process demonstrates a commitment to quality services and serves as a framework to improve business processes through benchmarking organizations against nationally recognized standards.
One of Only Four Organizations to Achieve DTM Accreditation
Drug Therapy Management programs play an important role in the proper management of chronic conditions, leading to better disease control, reduction in disease-related complications, and overall improvement in health.
“With a necessary educational component that is often now part of the dispensing of complex and expensive prescription medications, drug therapy management organizations benefit from proving their performance,” said URAC President and CEO Shawn Griffin, M.D. “By meeting rigorous quality standards and measures, URAC has accredited EnvisionRx as a recognition of its ability to adhere to the best practices related to factors such as coordinated care, counseling and education, and consumer protection.”
URAC’s DTM accreditation standards assess a range of professional activities, including formulating medication treatment plans, monitoring efficacy and safety of medication therapy, and enhancing medication adherence through patient empowerment and education.
“We take our role of ensuring safe and effective pharmacy care very seriously. It is our job to make sure that members in our care understand their medications and ensure appropriate use,” said Dan Robson, EnvisionRxOptions president. “This accreditation from URAC affirms our company’s commitment to the overall improvement of healthcare.”
EnvisionRx provides extensive clinical options that better manage increasingly complex conditions and make medications more affordable for both members and plan sponsors. By integrating their PBM services with their URAC-accredited specialty pharmacy, EnvisionPharmacies, EnvisionRx is able to manage the necessary drug therapies for costly, chronic conditions, optimizing all aspects of the pharmacy care experience to consistently achieve better member and plan outcomes.
Pharmacy Benefit Management Accreditation Demonstrates Transparency
URAC’s PBM accreditation standards facilitate transparency by ensuring that accredited organizations have a mechanism for clients to verify that financial disclosures are comprehensive and accurate. Envision launched the first fully transparent PBM in 2001, offering payers a completely open and supportive partnership that is auditable down to the claim level.
“Envision was built on a progressive idea that gave plan sponsors real transparency in the management of their pharmacy benefit," said Robson. "Because we provide this level of clarity, Envision has to make sure we run an efficient, effective PBM for both our payer clients and their members. The renewal of our URAC accreditation is proof that Envision continues to integrate new ideas with a focus on quality, and that our approach improves cost and care for members, as well as health plans, labor groups and employers of all sizes."
Customer service and communication are also key elements of URAC’s standards, as well as standards for pharmacy distribution channels that address key issues related to access, availability, quality and safety across retail, mail order and specialty pharmacy channels. Accredited organizations must also focus formulary decisions on the safety, efficacy and therapeutic need for drugs first, and focus on cost only after these considerations are met.
“URAC accreditation shows that EnvisionRx is a pharmacy benefit management organization able to adhere to standards that cover important aspects of care such as claims processing, developing proper drug formulary, and consumer access,” Griffin stated. “Quality policies and procedures are paramount as the price and complexity of medications rise. EnvisionRx chose to demonstrate their performance through URAC’s independent accreditation of their services.”
These achievements add to those the company already holds, including Accreditation in Utilization Management and Health Information Products Certification for Pharmacy Benefits Information from the National Committee for Quality Assurance (NCQA). The pharmacies division of EnvisionRxOptions also holds accreditations for its mail and specialty pharmacies, including URAC for Mail Service Pharmacy and Specialty Pharmacy, Specialty Pharmacy Services from the Accreditation Commission for Health Care (ACHC), and Verified Internet Pharmacy Practice Sites® (VIPPS®) for mail pharmacy from the National Association of Boards of Pharmacy® (NABP®).
About EnvisionRx
EnvisionRx is a division of EnvisionRxOptions, a pharmacy benefits and services company and a wholly owned subsidiary of Rite Aid. Nationally accredited, EnvisionRx provides affordable and effective prescription drug coverage for employers, unions and health plans. The first PBM to offer true transparency, EnvisionRx provides flexible services, unique network and formulary design, and specialty pharmacy care. Using its proprietary EnvisionCare model, EnvisionRx optimizes all aspects of the pharmacy care experience to consistently achieve better patient and plan outcomes. For more information, visit envisionrx.com.
About URAC
Founded in 1990, URAC is the independent leader in promoting healthcare quality through leadership, accreditation, measurement and innovation. URAC is a nonprofit organization developing evidence-based measures and standards through inclusive engagement with a range of stakeholders committed to improving the quality of healthcare. Our portfolio of accreditation and certification programs span the healthcare industry, addressing healthcare management, healthcare operations, health plans, pharmacies, telehealth providers, physician practices, and more. URAC accreditation is a symbol of excellence for organizations to showcase their validated commitment to quality and accountability.
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