Elixir Achieves 20 Consecutive Years of URAC PBM Accreditation
October 11, 2023 - Elixir, a leading pharmacy benefit manager, announced that it has received re-accreditation for Pharmacy Benefit Management (PBM) from URAC. This achievement is earned by the best and Elixir has held this accreditation since 2007. The newest re-accreditation is effective through 2026.
URAC is an independent, non-profit organization that works to improve overall healthcare and patient safety. As the only PBM accreditor in the country, the URAC accreditation is a mark of distinction that demonstrates Elixir’s accountability and a commitment to quality.
For over 20 years, Elixir has delivered to our clients and payers, a fully transparent, completely open and supportive partnership that is auditable down to the claim level.
“Our clients expect quality in how we service and manage their pharmacy benefits and experiences," states Matt Hosford, Vice President of Quality and Clinical Services for Elixir. "The renewal of our URAC accreditation is one way we can prove that we are determined to provide both of these things. URAC helps us set a framework for excellence and continuous improvement when it comes to our products and services. This drives us to focus on the cost and care for members, as well as our health plan, labor group and employer clients."
URAC’s stringent standards create a continuous improvement framework for:
- Customer service and communication benchmarks and safeguards
- Pharmacy distribution channels that address access, availability, quality and safety across retail, mail order and specialty pharmacy channels
- Drug use management standards that address coverage decisions, clinical review criteria, consumer safety process requirements and the appeals process
- Formulary decisions with a primary focus on the safety, efficacy and therapeutic need of a medication and a secondary focus on cost
“We offer our congratulations to Elixir for achieving Pharmacy Benefit Management accreditation. Earning this accreditation shows excellence in the ever-shifting landscape of health care operations, including in consumer protection, risk management and performance measurement. URAC accreditation reflects an organization’s commitment to operating at the high standards in the industry,” said URAC President and CEO, Shawn Griffin, MD.
Elixir holds three accreditations from URAC for PBM, Mail Services Pharmacy and Specialty Pharmacy, as well as several accreditations from the National Committee for Quality Assurance (NCQA), Accreditation Commission for Health Care (ACHC) and National Association of Boards of Pharmacy (NABP).
Elixir, a fully owned subsidiary of Rite Aid Corporation, is a pharmacy services provider that offers pharmacy benefit management services, Medicare-approved prescription drug plans, mail and specialty pharmacy solutions, and prescription discount programs to millions of members nationwide. With the unique ability to optimize the full pharmacy care experience, Elixir is crafting solutions for today’s pharmacy benefits challenges. For more information, visit elixirsolutions.com.
About Rite Aid Corporation
Rite Aid is a full-service pharmacy that improves health outcomes. Rite Aid is defining the modern pharmacy by meeting customer needs with a wide range of vehicles that offer convenience, including retail and delivery pharmacy, as well as services offered through our wholly owned subsidiaries, Elixir, Bartell Drugs and Health Dialog. Elixir, Rite Aid’s pharmacy benefits and services company, consists of accredited mail and specialty pharmacies, prescription discount programs and an industry leading adjudication platform to offer superior member experience and cost savings. Health Dialog provides healthcare coaching and disease management services via live online and phone health services. Regional chain Bartell Drugs has supported the health and wellness needs in the Seattle area for more than 130 years. Rite Aid employs more than 6,300 pharmacists and operates more than 2,300 retail pharmacy locations across 17 states. For more information, visit www.riteaid.com.
Founded in 1990 as a non-profit organization, URAC is the independent leader in promoting health care quality and patient safety through renowned accreditation programs. URAC develops its evidence-based standards in collaboration with a wide array of stakeholders and industry experts. The company’s portfolio of accreditation and certification programs span the health care industry, addressing health care management and operations, pharmacies, telehealth, health plans, medical practices and more. URAC accreditation is a symbol of excellence for organizations to showcase their validated commitment to quality and accountability. www.urac.org
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