IngenioRx Reports Both Pharmacy and Medical Drug Trends Flat in 2018
MORRISTOWN, N.J.--(BUSINESS WIRE)--May 13, 2019--Pharmacy management strategies practiced by Anthem’s affiliated health plans kept commercial clients’ drug trend nearly flat last year, according to the 2018 Drug Trend Report:Taking a Total View, a report released by IngenioRx, Anthem’s future pharmacy benefit manager. Without such management, the report estimates the trend would have risen almost 8 percent based on a combination of inflation, increased drug use and new drugs launched last year.
Unlike other drug trend reports, Taking a Total View represents drug costs covered under both the medical and the pharmacy benefits and further breaks out key trends for the employer-sponsored, Medicaid and Medicare benefits.
While the pharmacy only drug trend was .2 percent for commercial customers, the combined total medical and pharmacy drug trend was .9 percent as the medical benefit accounts for close to half the dollars spent on specialty drugs, typically more expensive drugs that treat complex conditions.
“Seeing the total view allows IngenioRx to focus on total cost of care, maximize value across the health care landscape and build proactive partnerships with employers, physicians, patients and other stakeholders,” said Deepti Jain, president of IngenioRx. “Grounded in a steadfast commitment to whole health, we see beyond the limited view of managing pharmacy benefits in isolation.”
Clients with both Anthem health plan medical and pharmacy benefits saw a 3 percent lower medical drug trend overall than those who had Anthem medical benefits but pharmacy benefits with a different insurer.
According to the report, Anthem’s whole health approach assisted in reducing the growth of hospital admissions by 50 percent for diabetes members of employers who had both Anthem health plans medical and pharmacy benefits compared to those with only Anthem medical benefits. Also, those diabetes members with integrated benefits experienced a 33 percent lower rate of ER visits. The whole-health approach of the integrated plans resulted in $1,236 less in medical costs spent on each member with diabetes.
IngenioRx provides pharmacy benefit management services to payers, including affiliates of Anthem, Inc. (ANTM). IngenioRx brings new clarity to the complicated world of pharmacy so members get the benefits they need in a way that’s simple and seamless. IngenioRx will offer a whole-health approach that helps drive better outcomes and lowers member, employer and plan costs. IngenioRx will focus on delivering a member-centric solution that’s aligned with our clients and transparent in formulary and clinical decision-making. For more about IngenioRx, go to https://www.ingenio-rx.com/.
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KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY HOSPITALS PHARMACEUTICAL OTHER HEALTH PROFESSIONAL SERVICES INSURANCE MANAGED CARE
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PUB: 05/13/2019 09:00 AM/DISC: 05/13/2019 09:00 AM