Mako Medical is lowering pharmacy costs with a new mobile app aimed at pricing transparency and access to lower-cost meds. This new model uses cost-plus pricing — not retail rates.
Mako Medical is lowering pharmacy costs with a new mobile app aimed at pricing transparency and access to lower-cost meds. This new model uses cost-plus pricing — not retail rates.
DALLAS, February 6, 2020 (Newswire.com) - Mako Medical Laboratories — one of the country’s fastest-growing healthcare companies — has announced this week that it will be launching a new pharmacy company called MakoRx. MakoRx will be led by Dr. Vinay Patel.
Mako Medical Laboratories made the announcement after more than two years of feedback from independent providers, independent pharmacies, and wholesalers from around the country. “Pharmacy and the cost of medication is a hot topic around the country with families struggling to cover the cost of their medication,” said Chad Price, President of Mako Medical. “The lack of clarity around pricing, access, and the variation in cost from pharmacy to pharmacy has created frustration for families and employers providing pharmacy benefits to its employees.”
MakoRx will release a proprietary mobile app that will allow families to look up the cost of medication and know exactly where to go to get it. Options will include delivery and strategic partnerships with independent pharmacies.
Mako Medical Laboratories said that the MakoRx platform will provide a new pricing model using a “cost-plus” basis so that families know the true cost — not the inflated retail amount often published on other sites. The MakoRx platform will allow patients to get the same price from all locations, unlike the other online options that list different prices at different pharmacies.
Through MakoRx, Mako Medical will offer a loyalty card that could be used by families with high deductible plans and Health Savings Accounts. The loyalty card could also be used by those with no health benefits. The goal is to drastically lower costs for every family in America and to simplify the process. MakoRx is also partnering with employer plans so companies offering insurance to their employees will have the option to lower pharmacy costs within the plan, give access to the app to its employees, and reverse the current trend of narrow networks and high deductibles.
Mako Medical said that the MakoRx app is set to be released at the end of the first quarter.
Mako Medical is known for its extensive community service and for hiring military veterans and supporting Christian missionaries. Mako Medical has won numerous awards for innovation and quality and is one of the country’s fastest-growing companies.
CONTACT: Vinay Patel, Vpatel@makomedical.com
Source: Mako Medical Laboratories
