At Wellfleet, our goal is to provide schools with the most cost-efficient options without compromising the quality of the product. When a large public university decided to retire their PBM and switch to Wellfleet Rx, we worked to stay consistent with this value.
The results
After a full year of working with Wellfleet Rx, the university uncovered significant savings for the school and its students. For an in-depth overview of the savings provided, read the full PBM Switch Case Study.
Overall, there was a 13.2% decrease in net plan cost per member. The Wellfleet Rx Zero Cost Drugs Program contributed significantly – through Wellfleet’s Student Formulary management, students have access to 50+commonly used medications at no-cost, providing annual member savings of $17,000 in co-pays. These drugs included:
- Antibiotics
- Dermatology medication
- Psychiatric medication
…and more. The Wellfleet Rx Student Formulary was designed with students in mind, focused on the management of drug classes heavily utilized by the student population. The goal is to make it easy for students and providers to identify clinically effective treatments while eliminating waste, keeping plan costs down and providing cost efficient options for highly demanded drugs.
Additionally, the Wellfleet Rx Copay Assistance Program further saved students thousands on specialty medications and other high-cost drugs. Wellfleet Rx provides access to a team of professionals that facilitates members in obtaining copay assistance from drug manufacturers to reduce their out-of-pocket expenses for eligible medications. This results in significant savings for both the members and the plan and provides concierge level service to our members, ensuring they are receiving the most value possible out of these programs.
Further, Wellfleet Rx helped provide significant savings on drug costs through utilization management, a process that assesses the appropriateness, safety, and necessity of a prescribed drug. With this process, Wellfleet was able to provide the university with $95.42 of annual savings per member through avoided costs.
Here’s how it works:
- Step therapy – A process which encourages the use of cost-effective medication before considering more expensive alternatives.
- Prior authorization – A process that ensures that a medication is prescribed in an appropriate, evidence-based manner.
- Quantity limits – A structure that helps enforce accurate medication limits, dispensing only necessary amounts to prevent waste and promoting savings.
Utilization management encourages the prescribing of evidence-based, clinically appropriate, and cost-efficient therapy. In most cases, generic drugs are used first, ensuring that patients receive medication therapy that is safe and effective for their condition, yet are still optimally priced. Decisions on utilization management requirements are built from a student lens and approved by clinicians working in student health and other specialists across the country.
These utilization management savings are also consistent across other plans with Wellfleet Rx — during the 2023-2024 plan year, Wellfleet Rx was able to use these techniques to save $87.72 per member per year.
Learn more about Wellfleet Rx
While partnering with Wellfleet Rx, the large public university was able to save money for not only their institution, but ultimately, its students. Wellfleet Rx is a student-focused pharmacy solution designed specifically with students in mind, created to accommodate their budgets, medical needs, and schedules. Developing a formulary that caters directly to the student population is key to Wellfleet’s approach to economical, yet quality drug distribution.
Wellfleet is dedicated to providing universities with the most effective pharmacy solutions and being a partner that they can rely on. Connect with our team to learn more about our tailored student health insurance initiatives today.
Resources
Wellfleet. (2025, April). Wellfleet Rx’s Utilization Management program delivers significant cost savings – Wellfleet Student. Retrieved from https://wellfleetstudent.com/managing-medical-cost/wellfleet-rxs-utilization-management-program-delivers-significant-cost-savings/.
Wellfleet. (2025, January). Wellfleet Rx ’23-’24 plan year utilization management results – Wellfleet Student. Retrieved from, https://wellfleetstudent.com/managing-medical-cost/wellfleet-rx-23-24-plan-year-utilization-management-results/.
Wellfleet. (2025, February). Wellfleet Rx Zero Cost Drugs program. Retrieved from, https://wellfleetstudent.com/managing-medical-cost/wellfleet-rx-zero-cost-drugs-program/.
Wellfleet. (2024, April) How the Wellfleet Rx copay assistance program helps students save thousands on specialty medications. Retrieved from, https://wellfleetstudent.com/managing-medical-cost/how-the-wellfleet-rx-copay-assistance-program-helps-students-save-thousands-on-specialty-medications/.
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