OptumRx (previously Prescription Solutions) has the Rx for insurance providers reeling from high drug costs. The company provides pharmacy benefit management (PBM) services to health insurers, managed care organizations, employers, unions, and other clients, representing more than 12 million members nationwide. Its services range from formulary management and benefit design to pharmacy network management, online reporting, and claims processing and tracking. OptumRx also operates mail-order pharmacies and provides specialty pharmacy services for high-cost biotech drugs. Founded in 1993, the business is a subsidiary of UnitedHealth and accounts for about 25% of the parent company's revenues.