Validation Institute's review of WithMe Health confirms significant savings, from both improved pricing and impacting utilization, for plan sponsors switching from traditional PBMs.
SAN MATEO, Calif., Sept. 6, 2022 /PRNewswire/ -- WithMe Health (or "WithMe"), a digital health company offering pharmacy benefits management (PBM) and medication guidance services, today announced that it has achieved Validation for Savings by the Validation Institute. This is a significant third-party validation of WithMe's ability to lower the per member per month (PMPM) pharmacy costs by 29% for self-insured clients switching from traditional "spread" PBMs to WithMe's transparent, pass-through model and personalized medication guidance service. This represents one more critical step in WithMe's mission to disrupt the PBM industry.
The Validation Institute is known for its work in verifying claims made by healthcare companies, with a special focus on disease-specific interventions as well as pharmacy drug spend. The Institute's mission is to help the industry and its clients substantiate which solutions in the space are having a real impact. "We conducted a rigorous analysis of WithMe data in order to validate WithMe's claims of client savings. We found that WithMe Health delivers $27.10 lower per member per month costs for pharmacy benefits than traditional Pharmacy Benefit Managers," said Benny DiCecca, Validation Institute CEO & President.
WithMe Health's savings is driven by significant utilization impact, not only better network rates and rebates. Clients achieve 4.5x-6x ROI, depending on the client-specific all-inclusive admin fee. Moreover, with a unique focus on member experience, WithMe has an 85 Net Promoter Score, representing a meaningful improvement compared to typical PBM scores. WithMe's purpose-built operational CRM, the "Guide App," enables member behavior change through proactive alerts and interventions, with the support of their pharmacist-led Medication Guide Team.
WithMe Health was founded in 2018, with investment from Oak HC/FT, OMERS Ventures, and Cox Enterprises. The company has since been a leading innovator in reconstructing the PBM business and delivery model to better serve their clients' needs through eliminating conflicts of interest.
"We're proud to be recognized for our business model and our impact," said WithMe Health CEO Joe Murad. "Pharmacy is a complicated space into which the Validation Institute is helping to bring increased clarity. We hope that this validation will make it easier for our clients and partners to understand the significant savings we can achieve for them."
Shane Giuliani, WithMe Health's Vice President, said, "We talk a lot about the need for a new, better PBM business model. We've built that with discipline and without taking shortcuts. We're aligning incentives with clients, improving the member experience, and driving significant savings. Our team at WithMe Health is proud to prove that this is possible, further substantiated by this Validation Institute study."
The Validation Institute's report on WithMe Health's savings can be found here.
WithMe Health's mission is to change the PBM industry and medication guidance for the better. Our business model is designed to fully align our objectives with those of our clients, removing the many conflicts of interest that often exist in a PBM-plan sponsor relationship. Our signature innovation is our Personalized Medication Guidance program, a human-led, tech-enabled clinical team whose focus is on utilization management. Through proactive engagement, we are able to drive savings and improve both outcomes and member satisfaction.
Validation Institute is a professional community that advocates for organizations and approaches that deliver better health value - stronger health outcomes at lower cost. We connect, train, and certify health care purchasers, and we validate and connect providers delivering superior results.
Founded in 2014, the mission of the organization has consistently been to help provide transparency to buyers of healthcare. To strengthen our offering and provide additional credibility around our service, the Validation Institute recently announced a "Credibility Guarantee" that offers customers of validated solution providers up to a $25,000guarantee. This guarantee confirms that a validated solution provider will achieve what the validation language on a marketing claim says it will achieve.
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