What is Rx Mole?
Rx Mole was started in May 2009 by an HR professional in conjunction with local pharmacies in Terre Haute, Indiana. The original web site was to help employees find the cheapest prices on prescription drugs, however once the project began to take shape, it was evident that the real value for members was in information sharing on "cash price" and in developing a relationship with your pharmacist.
What is "Cash Price"?
Cash price is just what is sounds like, paying via cash, without insurance. You are probably asking yourself, "Why would I pay with cash when I have insurance?" The answer is very simple, You can sometimes get a much cheaper price if you pay in cash vs. running through an insurance company (normally generic drugs fall into this category). Many times you can pay cash and then submit a manual claim afterward to your insurance company for reimbursement and to have monies applied toward your deductible (if applicable).
Twenty years ago many prescriptions were paid for via "cash price". Today nearly all prescriptions are paid via insurance plans. We are taught (by the insurance companies) how using their insurance saves us XXX dollars. In some cases this is true, in most not.
In today's world, the insurance companies tell the participating pharmacies at what cost they will reimburse back for a prescription and at what cost the pharmacy can sell the prescription. Insurance companies are essentially controlling the entire market process. This can create a very bad market situation for consumers like us. Additionally when you pay a pre-determined amount for your prescription, you are paying for a few things that give little benefit to you. These might be,
- Processing Fee - Each insurance company builds a processing fee into their model. These can range from $5 to $10. These are simple ways to provide easy revenue streams for the insurance company.
- Insurance Co-pay - Some insurance companies institute a "co-pay" into their system. In other words you pay $10 for all prescriptions. If a prescription costs $7 (normally a generic) then you still pay $10. The insurance company pockets the other $3.
- Cost shifting - Insurance companies "cost shift" from those healthy participants to those that are unhealthy (and they are losing $$$). When you pay a prescription through your insurance company, you pay for you and others covered by the insurance company as well. You are paying a premium for others poor health. This can be said for nearly all medical coverage.
Why develop a relationship with my pharmacist?
Your pharmacist can be a consistent ally in the healthcare industry. Many times a pharmacist will provide you with unbiased opinions (the drug reps don't influence them to sell the "drug of the month") and solutions to your ailments or drug questions.
What does Rx Mole do for me?
Rx Mole is a community that offers our members the ability to search, submit and network to find prescription drug answers quickly and confidentially. Our network creates transparency and promotes better consumerism.
Through our proprietary technology, we are able to give our members prescription information via a personal network. Retrieve information and prices on prescription drugs from local pharmacies that you can trust.
This free community gives the most value to participants with co-insurance, high deductible insurance plans or no prescription insurance at all.