State of Minnesota Selects Truveris to Help Optimize Its Pharmacy Benefits Program
Program performance and pharmacy cost containment manager Truveris recently announced that the company has been selected as the exclusive oversight and procurement partner for the State of Minnesota. Together they will conduct a full reverse-auction process to guarantee the state’s pharmacy benefit needs are given superior contract terms and pricing.
Truveris creates honest and fast-paced PBM marketplaces through its patented reverse-auction technology truBid®. This process pushes for notable price reductions on pharmaceutical pricing. Truveris provides a consistent outcome customized for each unique organization by performing a detailed reverse-auction process that has been proven over hundreds of tests.
State of Minnesota Enterprise Director, Employee Insurance Lorna Smith explained the rationale behind the selection, stating that “the State of Minnesota is deeply committed to enhancing the health and well-being of every one of our 52,000 employees. Creating an environment where our employees can access the medications they need at the lowest possible cost is critical to that goal. We have partnered with Truveris to help us deliver the best possible pharmacy experience for our employees.”
Truveris will also work on behalf of the State of Minnesota to complete 100% claim-by-claim invoice review using its proprietary truGuard™ technology. This program functions to analyze a plan’s pricing, contract, and lists while offering suggestions to increase efficiency.
Truveris CEO Nanette Oddo expressed excitement for the selection, saying that “Truveris has been devoted to building a technology platform that enables all employers and the public sector to participate in a transparent, competitive marketplace to drive down prescription costs. We are truly honored to partner with the State of Minnesota to help optimize their pharmacy benefit and to support their workplace goals.”
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