Using real-time pricing, Pharmacy Match drives
affordability for plan sponsors while offering access to the most
competitive pharmacy for each member
EAGAN,
Minn., June 19, 2024 /PRNewswire/ -- Prime
Therapeutics LLC and Magellan Rx Management (Prime/MRx) today
launched Pharmacy Match, a technology-enabled specialty pharmacy
solution designed to drive competition through an expanded
specialty pharmacy network and to lower drug costs for plan
sponsors.
Specialty drugs remain the fastest-growing area of pharmacy
spend, accounting for more than half of the total pharmaceutical
market today.1 That share is skyrocketing, driven by
price increases and the introduction of new treatments,2
further threatening affordability for stakeholders. The inherent
fragmentation and complexity in the specialty pharmacy space
exacerbates these issues, hindering patient access to necessary
therapies and complicating efforts to manage costs effectively in
an evolving market.
Pharmacy Match further amplifies Prime/MRx's distinctive
conflict-free approach to the prescription drug supply chain
model by offering members access to a broader network of quality
specialty pharmacies, reducing reliance on any single pharmacy
partner and promoting real-time competition. Another distinguishing
feature is that Pharmacy Match is complementary to other existing
Prime/MRx programs, including IntegratedRx® with a
proven industry-leading 95% satisfaction rating.
"Providing access to rapidly expanding specialty treatments
while controlling cost is one of the biggest challenges facing
health care today," said Nathan
Downhour, senior vice president, pharmacy and care solutions
at Prime/MRx. "Pharmacy Match is one example of how we are working
to expand access to affordable medications while helping members
navigate their specialty journey."
Pharmacy Match, powered by Free Market Health's proprietary,
cloud-based technology platform, helps members smoothly flow
through their specialty journey. To help create a frictionless
experience, the real-time referral feature comparison
shops the market and helps ensure members' specialty
medications are provided by the specialty pharmacy best suited to
meet their needs. And to help alleviate uncertainty, Pharmacy
Match members who are new to therapy are engaged early to help
ensure an uninterrupted journey. Through this platform, each
specialty claim is tracked to fulfillment, elevating the experience
for plan sponsors and their members.
"Our technology platform is a proven flexible solution that
delivers plan sponsors unprecedented control over their specialty
drug management programs, enabling them to efficiently balance the
cost of care with the value that care provides in their unique
markets," said Joe Cardosi, founder and CEO of Free Market
Health. "We're excited to partner with Prime as we share a common
goal of streamlining the fragmented drug delivery system so
patients can seamlessly start and continue their specialty drug
treatments to achieve the best possible outcomes."
"Prime/MRx's priority is to improve the specialty pharmacy
ecosystem. We envision an intelligently designed,
technology-enabled specialty care model that improves the
experience for members, from prescription intake to fulfillment,
while eliminating complexities, driving savings and reducing
waste," Downhour added. "Pharmacy Match is our first step toward
this vision."
To understand how Prime/MRx is charting a different path than
its competition and creating a new standard for the
pharmacy-solutions industry, visit primetherapeutics.com.
About Prime Therapeutics + Magellan Rx
Prime
Therapeutics LLC is a diversified pharmacy solutions organization
serving health plans, employers and government programs. Magellan
Rx Management, LLC, a Prime Therapeutics LLC Company, is a pioneer
in specialty and medical drug management and a leader in serving
public sector state government programs. Together, Prime and
Magellan Rx provide a wide range of clients with solutions that
bridge the distance between medical and pharmacy management. For
more information, visit primetherapeutics.com and
magellanrx.com or follow us on X (Twitter) at @Prime_PBM and
@Magellan_Rx.
About Free Market Health
Founded in 2019 and
headquartered in Pittsburgh, Free
Market Health partners with forward-thinking payers and specialty
pharmacies of all sizes to streamline the complex and opaque
specialty medication fulfillment process to ensure patients have
prompt access to lifesaving and life-altering medications. Free
Market Health opens up a dynamic, care-driven marketplace that
empowers its stakeholders to optimize resources and maximize
opportunities with the goal of balancing the cost of care and the
value that care provides. Learn more
at www.freemarkethealth.com.
1. Insights Into the 2023 U.S. Pharmaceutical Market. IQVIA.
Accessed May 20, 2024.
2. U.S. Insights: January 2024 Drug
Price Changes. IPD Analytics. March
2024.
Contact:
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Jenine
Anderson
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|
Public Relations
Manager
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612.777.5629
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Jenine.anderson@primetherapeutics.com
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SOURCE Prime Therapeutics LLC