Big Employers WIll Use Online Startup to Save on Medicine Costs

A group of large employers plans to use a new online prescription-savings tool as they confront high drug costs and try to steer patients to the most cost-effective medicines.

The Health Transformation Alliance, a coalition of more than 40 big companies that includes IBM Corp., Verizon Communications Inc. and American Express Co., has agreed to use a new online tool from startup Rx Savings Solutions to help the millions of people who work for the group’s members get better deals on their medications.

The HTA reviewed numerous comparison tools and chose Rx Savings Solutions because its app looked at prices and efficacy, said Robert Andrews, the group’s chief executive officer. The highest-priced drug is also sometimes the most efficacious and best value in the long-term, he said. Financial terms of the agreement weren’t disclosed.