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Rightway's 2024 Annual Report Highlights

Rightway, the singular Pharmacy Benefit Manager (PBM) specifically designed for transparency and fiduciary alignment, has unveiled its 2024 PBM Annual Report. This report showcases an exceptional year distinguished by record growth, remarkable cost savings for clients, and advancements in both member experience and clinical care.

Key Achievements in 2024

In a climate where many traditional PBMs are under fire due to increased scrutiny from the Federal Trade Commission (FTC) for hidden fees and conflicts of interest, Rightway's focus on transparency has begun to reshape industry standards. Noteworthy results include:

• - 83% Year-on-Year Growth: This figure underscores the demand for a PBM that prioritizes clients and members.
• - Effective Cost Reduction: An average savings of $14.87 per member per month (PMPM) highlights Rightway's commitment to cutting costs, all without hidden fees.
• - Lower Out-of-Pocket Expenses: Members appreciated an 11.2% decrease in out-of-pocket spending, directly reflecting Rightway's approach to cost management.
• - Member Satisfaction: With a Net Promoter Score of +78, Rightway significantly exceeds the industry average of +8, echoing strong client trust and satisfaction.

Clinical Excellence

Rightway stands out as the only PBM that incorporates pharmacy navigation into every interaction with members. Every member interaction includes proactive support from licensed pharmacists rather than relying on automated call center responses. In 2024, 53% of the interactions were facilitated by clinical pharmacists, illustrating Rightway's dedication to providing strategic and useful pharmacy benefits.

Scaling Efficiently with Innovative Solutions

Rightway demonstrated its ability to scale efficiently in 2024, achieving:

• - +248% Growth in Processed Claims: Testifying to Rightway's success in maintaining transparency while expanding its client base.
• - +157% Increase in Inbound Calls: Rather than merely passively managing benefits, members are proactively contacting Rightway for assistance from pharmacists.
• - Prompt Response Times: An impressive 16-second average speed of answer allows members to quickly access pharmacist expertise for inquiries around medications and pricing.
• - 100% Claims Processing Accuracy: Even amidst rapid growth, Rightway ensures precision in claims, fostering smooth operations for plan sponsors.

Leading the Charge in Innovation

Rightway is redefining what it means to innovate within pharmacy benefits. Gone are the days of superficial tech improvements; Rightway prioritizes authentic cost savings and smarter pricing mechanisms. In 2024, several groundbreaking initiatives emerged, including:

• - Client Reporting Portal: Employers now have real-time access to data on claims and potential cost-saving opportunities, facilitating proactive financial management.
• - Lesser of 4 Logic: This unique algorithm guarantees that members always pay the lowest price available for prescriptions, diverging from traditional PBM practices that focus on rebates.
• - Specialty Pharmacy Expansion: Partnering with Walgreens has expanded members' access to competitive pricing, enhancing overall flexibility.
• - Leadership in Biosimilars: Rightway’s initiative in transitioning members to lower-cost biosimilars for Humira resulted in a substantial 77% reduction in utilization, delivering significant savings to clients at $5 PMPM, along with a remarkable 99% acceptance rate among members.

Streamlined Implementation

Rightway's efficient approach to implementation has provided clients with a seamless introduction to services in 2025. Implementations for new clients were managed flawlessly, with every new client reporting a strong satisfaction rate, which is rare in the industry.

Vision for 2025 and Beyond

Looking forward, as the scrutiny surrounding PBMs escalates, Rightway positions itself as the beacon of transparency and efficiency. With a commitment to passing 100% of rebates to clients, eliminating hidden markups, and offering an auditable pricing model, Rightway exemplifies a new path for PBMs that aligns firmly with the best interests of employers and their employees.

Conclusion

In conclusion, the full 2024 PBM Annual Report is available for those interested in understanding how Rightway is propelling the future of pharmacy benefits. Additionally, Rightway extends an invitation to a webinar on March 12th, offering a chance to hear from company leadership about the driving strategies behind their success.

For those interested in further exploring how Rightway's innovative solutions enhance pharmacy benefits management and overall healthcare navigation, please visit Rightway's website.

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About Rightway
Rightway is dedicated to revolutionizing pharmacy benefits and healthcare navigation with a focus on the individual. Their rigorous service approach, combined with exceptional clinical guidance and advanced technologies, serves over two million members. With completely aligned pricing structures, Rightway offers transparent and measurable savings without the interference of hidden fees, ensuring true value in pharmacy benefits.