DestinationRx celebrates 10th anniversary

Oct 7 2009

DestinationRx celebrated the company’s 10^th anniversary with an announcement at the Health 2.0 Conference today. Even as sweeping healthcare reform is debated in Congress, this observance marks an important milestone for the health plan and drug comparison industry leader. A pioneer in consumer drug comparison and purchasing, the company’s technologies and services reach over 100 million Americans through the federal government, health plans, PBMs, consumer advocacy groups and employers.

“We are proud to have been part of a sea change in healthcare over the past ten years,” said Michael Cho, President and CEO of DestinationRx. “We have worked since the beginning to facilitate price transparency and manageability of healthcare costs, and we are excited at the potential for further advancement through healthcare reform.”

DestinationRx was founded in 1999 with the mission of helping consumers become smarter and more confident healthcare decision makers and buyers. At the same time, Dr. Joseph Rogers, a cardiologist in Detroit, saw a significant number of patients complaining about high drug costs and, with his son Toby, began building a Web-based tool, Rxaminer – the first to compare dose specific drug efficacy and cost – to help patients minimize the expense of their prescription drugs. The two companies joined forces in 2006, and today assist millions of individuals with decision support tools such as drug price comparison, personalized total cost plan comparison (premiums and drug and medical out of pocket estimates) and purchasing options for prescription drug and other healthcare transactions.

“When we started the company we wanted to give doctors and their patients access to drug pricing. At the time it was geared toward the uninsured, but as we have moved toward an era of high deductibles and multi-tier co-pays and co-insurance, insured and uninsured alike need to be aware of therapeutically comparable alternatives including but not limited to generics and to have the capacity to shop for the best prices,” said Dr. Rogers.

These tools give consumers unprecedented access to, and simplicity of, the information they need to become smarter and more confident health care decision makers and buyers. And this has never been more relevant, as consumers are increasingly being asked to bear a greater share of their healthcare costs and therefore a greater responsibility in decision making around their healthcare.

“According to a survey released last month by benefits consultant Watson Wyatt, more than 40 percent of employers plan to raise deductibles, co-payments or out-of-pocket maximums on health plans in the coming years,” added Cho. “We are dedicated to providing tools to consumers that will help them choose and use the health plan and medications that are best – and most affordable – for them and their families.”

http://www.destinationrxinc.com.