BMW to Open On-Site Associate Family Pharmacy
BMW Manufacturing Co. will open an on-site pharmacy July 6, 2005.
According to representatives within the Health Services divisions of BMW Manufacturing Co., escalating prescription drug costs have led the company to look for innovative solutions.
“Prescription drug costs have been increasing in double digits and are the fastest growing portion of BMW’s healthcare benefits,” explained Bunny Richardson, spokeswoman for BMW. “The on-site pharmacy will allow BMW to continue to offer competitive pharmacy benefits for our associates and help curtail continually rising prescription costs.”
The decision to implement an on-site pharmacy is the result of several years of on-going research. Health care costs have increased three to five times faster than the Consumer Price Index over the last five years on a national level and it is predicted that by 2006, BMW’s per associate costs will have quadrupled since the plant’s inception.
The on-site pharmacy will be operated by CHD Meridian, a national leader in the management of employer-sponsored health services. The on-site location will be staffed with three licensed pharmacists and host all of the automated conveniences typically offered through most pharmacy venues.
Exclusive to BMW associates and their covered dependents, use of the pharmacy is encouraged but not mandatory.
BMW Manufacturing Co. is a subsidiary of BMW AG in Munich, Germany. In addition to the South Carolina manufacturing facility, BMW’s North American subsidiaries include sales, marketing and financial services operations in the United States, Canada and throughout Latin America; an information technology consulting and systems integration firm in South Carolina; and a design firm in California.