Mercer Launches Mercer SelectRx, a Tech-Enabled Solution Designed to Lower Specialty Drug Costs for Employers and Their Employees

Mercer, a global leader in unlocking real health and well-being and a business of Marsh McLennan (NYSE: MMC), today launched Mercer SelectRx, an exclusive product offering that leverages Free Market Health’s proprietary, cloud-based technology platform to drive competition among specialty pharmacies for high-cost specialty medications and savings for employers and their employees.

Prescription medications have been the fastest-growing component of employee health benefit costs for years, with specialty drugs rising by more than 10% in 2023, according to Mercer’s 2023 National Survey of Employer-Sponsored Health Plans. With an estimated 50 new specialty drugs entering the market annually including ultra-high-cost gene therapies, controlling drug costs will continue to be a challenge for employers and their employees.

Mercer SelectRx takes a novel approach to the current prescription drug supply chain model. Specialty prescriptions are directed to the platform, which drives competition among a curated network of specialty pharmacies with the right capabilities to service the employee. The pharmacy offering the lowest price on the approved specialty medication is chosen to dispense it, without any delays in the delivery of the medication to employees or impact to the drug rebates provided by pharmaceutical manufacturers to the employers.

While cost savings will vary by employer and prescribed medication, Mercer SelectRx could save employers and employees up to 10% off specialty drug spend.

“Healthcare costs, particularly pharmacy benefit costs, are one of employers’ most unpredictable expenses year after year,” said Ed Lehman, US Health and Benefits Leader, Mercer. “We expect that Mercer SelectRx will deliver meaningful savings for employers and their employees while improving the employee experience. This solution is a win-win for our clients who are striving to support the health and wellness of their people and keep healthcare affordable.”

Mercer SelectRx enables employees to have access to a broader network of quality specialty pharmacies, including those offering differentiated care models like integrated care and disease state specialization, without disrupting an employer’s relationship with its Pharmacy Benefit Manager (PBM). The tech-enabled model tracks each specialty claim to fulfillment, without disruption to the existing patient experience and with a reduction in employee abandonment of their medications.