HomeMost PopularInvestingRevolutionizing Pharmaceutical Savings: Mercer SelectRx by Marsh & McLennan (MMC)

Revolutionizing Pharmaceutical Savings: Mercer SelectRx by Marsh & McLennan (MMC)

Actionable Trade Ideas

always free

Driving Down Costs Through Innovation

Imagine stepping into a vibrant marketplace buzzing with activity, where each vendor competes to offer you the best deal. This is the setting where Mercer SelectRx, Marsh & McLennanโ€™s latest brainchild, plays out. Encapsulated in this innovative solution is the promise of trimming the burgeoning expenses associated with specialty drugs for both employers and employees.

Saving Through Transparent Comparison

Mercer SelectRx, an offspring of the Consulting segment powerhouse, Mercer, relies on a cutting-edge platform provided by Free Market Health. It shines a light on the often murky world of specialty pharmacy pricing by directing specialty prescriptions to a network of pharmacies. The one quoting the most competitive price for the required specialty medication emerges victorious, ready to fulfill the employeeโ€™s pharmaceutical needs promptly.

Empowering Employers and Employees

By orchestrating this transparent and efficient dance of prescription fulfillment, Mercer SelectRx aims to ensure uninterrupted access to vital medicines for employees. The initiative not only safeguards the integrity of the existing patient experience but also reduces the incidence of needed waivers for prescribed drugs. This amalgam of convenience and cost-effectiveness is poised to elevate the standard of pharmaceutical care, providing a much-needed sigh of relief to employers and their workforce.

Responding to a Growing Need

In the wake of soaring prescription drug costs, especially those related to specialty medications, Mercerโ€™s introduction of SelectRx couldnโ€™t have been more timely. Recent data from Mercerโ€™s 2023 National Survey of Employer-Sponsored Health Plans highlights the relentless surge in prescription drug expenses, a trend that has continued to outpace other components of employee health benefit costs.

Investment-Worthy Innovation

The decision to unveil Mercer SelectRx aligns with Marsh & McLennanโ€™s grand scheme of providing tailored advice and solutions to meet the evolving needs of modern-day workforces. This move not only spells good news for employeesโ€™ health but also for the financial health of the sub-unit itself. Mercerโ€™s impressive 5% year-over-year revenue growth in 2023 not only underscores the effectiveness of their approach but also contributes significantly to Marsh & McLennanโ€™s consolidated revenues.

Strategic Growth Amid Industry Competition

Marsh & McLennanโ€™s endeavor to develop innovative solutions like Mercer SelectRx reflects a proactive growth strategy. The companyโ€™s relentless efforts have not only enabled penetration into new markets but also fortified existing footholds and diversified its business portfolio. With Marsh & McLennan shares outperforming the industry average by 3.6 percentage points over the past year, itโ€™s evident that investors are buying into this growth narrative.

Some better-ranked stocks in the insurance space are CNO Financial Group, Inc. CNO, Brown & Brown, Inc. BRO and Erie Indemnity Company ERIE. While CNO Financial sports a Zacks Rank #1 (Strong Buy) at present, Brown & Brown and Erie Indemnity carry a Zacks Rank #2 (Buy).

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.