Tyson Foods Turns to Technology to Find Prescription Drug Savings for Employees
SPRINGDALE, Ark., April 12, 2021 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN) is using the power of technology to help its U.S. employees and their families save money on prescription drugs.
The company is partnering with Rx Savings Solutions, to provide a free, confidential online tool that gives team members and their covered dependents ways to pay less for the medications covered through the company's health plan. The prescription drug savings software examines the medications a member takes and finds lower-cost options to treat the same conditions. The savings can be generic, less expensive forms of a name-brand drug or various options based on prescriptions taken.
The personalized recommendations are proactively communicated via email, text message, app notification, phone or direct mail to all employees who opt into the program. There is also an online "search for medication" tool available to help find savings suggestions for any drug a doctor prescribes. Interpreter and translation assistance will be available when Tyson Foods rolls out the prescription drugs savings solution to its 120,000 U.S. team members this month.
"This initiative is part of our work to promote a culture of wellbeing and, ultimately, build a healthier workforce," said Johanna Söderström, executive vice president and chief human resources officer for Tyson Foods. "It's designed to help our people better understand the prescription drug options available to them and ways they can save money."
"We are delighted to work with Tyson in improving the health and wellbeing of their team members," said Michael Rea, a clinical pharmacist who founded and currently leads Rx Savings Solutions. "We established Rx Savings Solutions to bring transparency to the world of prescription drugs and remove its complexity, so consumers can make the most educated choices about where, how and at what price they purchase medications. By working together, we not only offer options for affordability, but importantly overall better health."
Limiting prescription drug costs is an element of Tyson Foods' total rewards philosophy, which is focused on helping team members live healthier, happier lives, while thriving professionally and financially.
Tyson Foods provides its team members and their covered dependents affordable health, life, dental, vision and prescription drug benefits. The company requires all regular, full-time team members who have completed 59 days of employment to have health care coverage through either the company-sponsored health plan or through a family members plan. This means that 100 percent of our eligible team members have access to health care coverage.
Tyson Foods recently announced the appointment of Dr. Claudia Coplein to the newly created role of Chief Medical Officer. In addition, the company has an occupational health staff of almost 600 nurses and plans to pilot the opening of seven health clinics this year to give Tyson team members and their covered dependents easier access to high quality health care and, in most cases, at no cost.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN) is one of the world's largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it's available and raise the world's expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 139,000 team members. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit tysonfoods.com to learn more.
About Rx Savings Solutions
Founded by a former retail pharmacist, Rx Savings Solutions works on behalf of health plans and self-insured employers to help their members reduce out-of-pocket prescription costs and the plan's pharmacy spend. The solution layers on top of an existing pharmacy benefit and analyzes individual claims to identify and present cost-saving alternatives to each member. Whenever savings opportunities are found, members are proactively notified through preferred communication channels. They engage with the solution through a personal online portal, mobile app and live, concierge member support provided by certified pharmacy technicians. Rx Savings Solutions currently serves more than 8 million members nationwide. For more information, visit rxsavingssolutions.com or follow them on LinkedIn and Twitter.
Contacts
Gary Mickelson, Tyson Foods, gary.mickelson@tyson.com, 479-236-9022
Cecile Fradkin, S&C Public Relations Inc. for Rx Savings Solutions, media@rxsavingsllc.com, 646-941-9139
Category: IR
