Rx Outreach has saved patients more than $220 million in prescription costs in the few years since then Express Scripts executive vice president Michael Holmes founded the company, which provides affordable generic prescription medication to those who need it most.
On Saturday, May 10, Rx Outreach honored the Express Scripts CEO who gave Holmes the approval to create the spin-off company. George Paz, chairman and CEO of Express Scripts, received the Champion for Health Award.
“Ninety percent of all transactions in the medical field are prescriptions, yet it represents about 15 percent of the costs. But it has the longest, biggest impact on overall, long-term health of our society,” Paz told the audience.
“Keeping people adherent to their drug regimen keeps them out the hospital, keeps them safe and helps them grow. It’s incredibly important that we do that.”
Pas said people without health insurance pay the highest amount for prescriptions at drug stores, so Express Scripts developed Rx Outreach to help people with medications through their tough times. The problem was that it was administered within a for-profit company.
“We were having trouble with Rx Outreach reaching its ultimate mission,” Paz said.
Then Holmes presented Paz with a business plan that showed how much better Rx Outreach would perform if it were not a part of Express Scripts. It was founded as a separate entity in 2010 with Holmes as its president. Since then, Rx Outreach has extended its reach, thanks largely to donations from drug makers.
“Nearly 20 percent of our medications are donated by several pharmaceutical companies, and that enables us to make the medicine even more affordable to low-income people,” Holmes said.
He praised Paz for his corporate and civic leadership, apart from his role in founding Rx Outreach.
“His decision to put Express Scripts’ headquarters on the UMSL campus – that was no accident,” Holmes said. “He wanted an anchor North County, creating thousands of jobs with excellent benefits for all the people.”
Despite millions of people being newly covered by health insurance under the Patient Protection and Affordable Care Act, Holmes said the need for assistance with affordable medication remains.
“During the first quarter of this year, we dispensed over 101,000 prescriptions to 51,000 patients and we saved them over $20 million,” Holmes told the audience. “While I look forward to the day that Rx Outreach may not be needed, it appears that day is a long way off. We still have much work to do to help those people who cannot afford their medications.”
Guests at the gala bid on silent auction items and made donations at their tables to help Rx Outreach continue its work. Highest donors received gold, silver and bronze medals. The organization raised $240,000 at its first fundraising gala.
Rx Outreach offers more than 500 medications to eligible persons. For more information, go to www.rxoutreach.org.
