Blink Health, the e-commerce platform that makes prescription drugs affordable for everyone, announces that it will guarantee the lowest prices for generic prescriptions through Blue Eagle Health, a new Pharmacy Benefit Administrator.
Blink Health partnered with industry executives to create Blue Eagle, an important alternative to the traditional prescription industry middlemen - known as Pharmacy Benefit Managers (PBMs) - that drive up prices and reap exorbitant profits at the expense of consumers.
Through Blue Eagle, Blink Health is able to offer its pharmacy partners complete transparency into how much they will be paid for every prescription. This contrasts with the current model, where pharmacies do not have visibility into how much they will receive on prescriptions due to unfair clawbacks and other fees imposed by PBMs. Blue Eagle Health also does not demand controversial restrictions known as "gag orders" that some PBMs impose on pharmacies to preclude them from notifying patients of lower available prices.
"When we started Blink Health, we focused on providing patients with lower costs and transparency before they got to the pharmacy counter. The pharmacy is the only place in retail where patients don't know the price of a product until they get to the register," said Geoffrey Chaiken, co-founder and CEO of Blink Health. "What we didn't realize is that pharmacies don't know what they are going to get paid until a month after they fill a script! We've solved this problem and created a win-win for both consumers and pharmacies."
"We decided to partner with the Blink Health team because of a shared vision to bring transparency to our pharmacy retail partners," said Tom Luft, President of Blue Eagle Health. "Blue Eagle Health eliminates the opaque PBM industry practices of clawbacks, administrative fees and gag orders. We're excited to work with our retail partners to target patients who increasingly look to purchase their goods and services online."
Blue Eagle began processing all Blink Health purchases in late March. More than 2,500 additional pharmacies have since joined the Blink network, including regional chains and hundreds of independently owned community pharmacies nationwide.
Blink Health customers simply purchase their prescription medications directly on the company's website or mobile app, and then pick up their prescriptions at any of Blink Health's more than 33,000 participating pharmacies. With more Blink pharmacies than the nation's McDonalds and Starbucks combined, patients in every community around the U.S. have convenient access to the lowest prices for their prescriptions.