National CooperativeRx is a not-for-profit, nationwide prescription drug purchasing coalition owned and governed by its member companies. Upon joining, member plan sponsors become the cooperative’s shareholders, electing its Board of Directors and receiving dividends. Founded in 2003, National CooperativeRx today consists of 450 plan sponsors and organizations providing benefits to 250,000 employees and dependents.
National CooperativeRx’s combined purchasing power allows the cooperative to negotiate aggressive pricing and favorable contract language with the nation’s premier pharmacy network, CVS/Caremark. The cooperative protects member’s interest and through its volume purchasing allows all National CooperativeRx members, regardless of size or revenue, to access deep drug discounts and enhanced clinical programs typically offered only to the largest companies in the nation. In addition, the cooperative conducts an independent audit to ensure members are getting what they signed up for. At the same time national pharmacy cost trend has increased ten to twelve percent annually, National CooperativeRx achieved an aggregate per member drug cost reduction of .93% annually over the last 5 years.
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