Hy-Vee Debuts Pharmacy Benefits Manager Subsidiary

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Hy-Vee Debuts Pharmacy Benefits Manager Subsidiary

By Bridget Goldschmidt - 12/04/2020
Hy-Vee Debuts Pharmacy Benefits Manager Subsidiary Vivid Clear Rx Mike Agostino
Mike Agostino, SVP for pharmacy business development at Hy-Vee and president of Omaha, Nebraska-based Vivid Clear Rx

Hy-Vee Inc.’s newest subsidiary, Vivid Clear Rx, will offer affordable pharmacy benefits management (PBM) services to Hy-Vee’s 88,000-plus associates, as well as to other employers seeking to maximize their employee benefits spending.

“Health care spending continues to be a leading concern for employers across the country, and every business wants to make sure they are providing the best benefits for their employees at the best value,” noted Hy-Vee Chairman, CEO and President Randy Edeker. “With the launch of Vivid Clear Rx, we’re leveraging our experience in the pharmacy industry and the expertise we’ve gained from serving millions of pharmacy patients to help other employers make the most of every health care dollar they’re investing in their employees.”

Vivid Clear Rx offers a full range of flexible pharmacy benefit management services, powered by RxAgile enterprise technology from Boston-based RXSense. The company provides Vivid Clear Rx with a full-service suite of PBM modules that supplement assets already owned and operated by Hy-Vee. RxSense’s analytics product, RxIQ, offers Vivid Clear Rx real-time health plan performance insights via customizable data dashboards; financial, operational and clinical action alerts; and the ability to quickly evaluate data by claim type, pharmacy or geography.

“We are very excited to offer services in partnership with RxSense, as we know their data platform will help businesses, including Hy-Vee, make even better decisions when it comes to employee benefits and pharmacy spending,” said Mike Agostino, SVP for pharmacy business development at Hy-Vee and president of Omaha, Nebraska-based Vivid Clear Rx. “We look forward to helping Hy-Vee and many other employers around the country gain better insights into their pharmacy benefits spending as well as bring greater value to their health care programs.”

In other Hy-Vee news, the company is seeking to hire 1,000 full- and part-time licensed pharmacy technicians across its eight-state market area as it continues to expand its COVID-19 testing services and prepare for the distribution of the COVID-19 vaccine

Employee-owned Hy-Vee, the parent company of Vivid Clear Rx, operates more than 265 retail stores across eight Midwestern states. The company is No. 33 on The PG 100, Progressive Grocer’s 2020 list of the top food and consumables retailers in North America.