Press Release (ePRNews.com) - Jan 12, 2021 - Advanced Medical Pricing Solutions (AMPS), a pioneer in healthcare cost management, is pleased to announce it has acquired Drexi, a pharmacy solution that enables savings by transparent pricing and pass-thru on prescription medications available at a nationwide network of more than 65,000 pharmacies.
The addition of Drexi expands the AMPS cost management suite further into prescription medications, one of the most nontransparent industries today. Complementary in nature, both firms use reference-based pricing to enable transparency; AMPS specializing in medical costs, and Drexi specializing in pharmacy costs.
“This acquisition is part of AMPS’ strategic vision and growth plan to provide a spectrum of programs to manage healthcare costs,” said Kirk Fallbacher, AMPS president and CEO. “With the addition of Drexi, AMPS can now drive savings on more than 90 percent of the benefit expense associated with a self-funded group.”
AMPS and Drexi have been working quietly behind the scenes to jointly service several groups, ensuring the combined capabilities drive deeper savings than traditional approaches and legacy vendors.
“We’ve been using the combined AMPS and Drexi solution for more than two years now and continue to realize savings that were not possible in other programs,” stated Dean Rigg, CFO at Mesilla Valley Transportation, one of the largest locally-owned truck load carriers in U.S. “As a unified program, the transparency and resultant savings from an AMPS and Drexi combination is hard to beat.”
When the pharmacy benefits administration capabilities of Drexi are added to the AMPS cost management suite, AMPS’ customers gain the added benefit of lower administration fees through a series of shared services. This allows AMPS to offer pharmacy cost containment programs at a fraction of the cost, while continuing to achieve deeper savings on prescription medications.
“Based on our Blueprint Process, our firm strives to implement the best benefits programs available to our clients, and we have repeatedly seen success using the AMPS and Drexi solutions,” stated Mark Matsock, founder and CEO of Matsock and Associates, a benefit advisory and partner firm of United Benefit Advisors® (UBA), with clients across the nation. “The combined AMPS and Drexi solution is powering savings for clients across many of our markets.”
“For years AMPS and Drexi have partnered independently through Health Rosetta advisors to drive down healthcare costs,” said Dave Chase, best-selling author and co-founder of Health Rosetta. “By combining these two companies, local search capabilities for prescription drugs and medical services deepens and expands. This allows for further savings and the localization of healthcare, thus giving control back to the employers and the members they serve.”
AMPS is already well underway in its efforts to add pharmacy enhancements to its industry-leading Medical Bill Review program, which can drive savings upwards of 80 percent on out-of-network claims. Beginning January 12, 2021, the AMPS and Drexi engineering teams will combine in Phoenix, with new joint enhancements and services launching shortly thereafter.
“AMPS and Drexi have a similar focus – to provide transparent pricing for better healthcare decisions,” stated Bill Miller, CEO of Drexi. “Both firms are focused on using data insight to help clients get the most bang for their healthcare spend.”
About Advanced Medical Pricing Solutions (AMPS)
Advanced Medical Pricing Solutions (AMPS) provides market leading healthcare cost management services for self-funded employers, public entities, brokers, TPAs, and reinsurers. AMPS mission is to help clients attain their goals of reducing healthcare costs while keeping members satisfied with quality healthcare benefits. AMPS leverages 16 years of experience in auditing and pricing medical claims to deliver “fair for all” pricing both pre-care and post-care. AMPS offers innovative dashboards and analytics to provide clients with insights based on Plan performance. Learn more at www.amps.com.
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