Based in Overland Park, Kansas, Rx Savings Solutions is an online tool that shows users how to save money on medications. The tool takes information regarding medications users take and finds lower-cost options that treat the same conditions. Savings can come from generic drugs, different pharmacies’ prices, or simply different medications that cost less. Users are employers who communicate savings opportunities to their employees, equipping them with the necessary information to make the most cost-effective decisions. 

Michael Rea, PharmD and founder and CEO of Rx Savings Solutions, explained why savings on prescription costs are so important for the website’s users and others like them. 

Rea has worked with both Walgreens and OptumRx, so he is familiar with the world of prescription drugs and the trials people go through trying to afford them. It was one of these patients, Betty, who inspired him to make cost savings his top priority and establish Rx Savings Solutions in 2008.  

Betty came into the pharmacy asking which of her eight medications she could most safely do without because she only had the funds to cover six of them. Instead of advising her which medications to go without, Rea took her list home along with her insurance plan, deductibles, and pharmacy information. Over the course of 6 hours, he saved Betty $250 that month, and every month going forward. That 6-hour process would eventually become the same fast-moving process the Rx Savings Solutions website now offers to the employers and health plans with which the company partners. 

Dr. Rea and his team have secured a wide and varied client base with approximately two million covered members and shown exemplary achievements in raising capital for their vision and efforts. 

Dr. Rea discussed Rx Savings Solutions with KC Digital Drive’s Health Innovation Team on February 28, 2018.

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