|By PR Newswire||
|February 4, 2014 07:02 PM EST||
ST. PAUL, Minn., Feb. 4, 2014 /PRNewswire/ -- Prime Therapeutics LLC (Prime), a leading pharmacy benefit manager, helped nearly 20,000 members save more than $21.2 million on high-cost, specialty medicines in 2013 by helping members secure specialty copay offset programs. These copay offsets – mainly manufacturers' coupons and patient assistance programs (PAPs) – are one way Prime helps to lower out of pocket costs for members. Prime's researchers will present these findings at Pharmacy Benefit Management Institute's (PBMI) 2014 conference, Feb. 3-5 in Las Vegas.
With specialty drug costs expected to rise to 50 percent of commercially insured total drug costs by 2018, Prime Therapeutics Specialty Pharmacy LLC (Prime Specialty Pharmacy) helps health plans, employers and members control costs and manage complex health conditions such as cancer, rheumatoid arthritis and multiple sclerosis. In addition to offering a full suite of specialty pharmacy services, including delivery of specialty medicines, care management, and insurance billing, it also works to make medicine more affordable for its members and the health plans it serves.
Copay coupons and PAPs are offered by pharmaceutical manufacturers to help patients defray the cost of drug treatments and help maintain member adherence. According to a September article in New England Journal of Medicine, nearly 400 traditional and specialty drugs offer a coupon for payment assistance. Additionally, 62 percent of these coupons were for brand-name medicines that had lower-cost therapeutic alternatives available.
"Copay coupons can be inappropriate for many medicines when there are low cost generic alternatives often available," said Pat Gleason, PharmD, BCPS, FCCP, director of health outcomes for Prime. "However, coupons can be vitally important for specialty medicines due to the high cost and lack of generic options."
Until now, little was known about these copay offset programs, since data on coupon and PAP use are frequently not collected by pharmacy benefit managers. However, Prime recently studied 264,801 Prime Specialty Pharmacy prescription claims for 37,890 members with prescriptions totaling $911,779,674. The following results showed applying copay offset programs had a significant impact:
- Prime Specialty Pharmacy helped 19,862 members (52.4%) save $21,234,246 through copay offsets (manufacturer coupons and patient assistance programs - PAPs)
- The savings of $21,234,246 represents 60.2% of the member share (originally $35,297,162)
- 44.3% of the prescriptions (117,330 claims) had a copay offset applied to the member share.
- The average yearly savings per member who received copay offsets was $1,069 (of the 19,862 members, for all their prescriptions through Prime Specialty Pharmacy during 2013)
- $80 in copay offset savings per all prescriptions dispensed from Prime Specialty Pharmacy in 2013
- $181 in copay offset savings per prescriptions dispensed from Prime Specialty Pharmacy where a copay offset was applied
- >$1,000 copay offset savings was found in 4,893 (4.2%) of Prime Specialty Pharmacy prescriptions dispensed with any copay offset
"Helping members take advantage of these cost-reducing measures is critical because the high cost of specialty medicines has been shown to negatively affect members' adherence to their medicines," noted Gleason. "Applying copay offsets is just one of the many ways we help members get the medicines they need to feel better and live well."
About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves nearly 25 million people. It is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized by Modern Healthcare as one of "healthcare's hottest companies for 2013."
For more information, visit www.primetherapeutics.com or follow @Prime_PBM on Twitter.
SOURCE Prime Therapeutics LLC
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
Mar. 28, 2017 06:00 AM EDT Reads: 8,881
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Mar. 28, 2017 06:00 AM EDT Reads: 4,278
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Mar. 28, 2017 06:00 AM EDT Reads: 2,948
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
Mar. 28, 2017 05:00 AM EDT Reads: 9,884
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Mar. 28, 2017 04:45 AM EDT Reads: 7,465
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 28, 2017 02:30 AM EDT Reads: 2,022
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 28, 2017 02:15 AM EDT Reads: 3,093
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Mar. 28, 2017 02:15 AM EDT Reads: 9,902
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 28, 2017 02:15 AM EDT Reads: 3,108
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 28, 2017 02:00 AM EDT Reads: 3,894
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 28, 2017 01:00 AM EDT Reads: 2,345
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 28, 2017 12:45 AM EDT Reads: 988
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 28, 2017 12:00 AM EDT Reads: 1,249
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Mar. 28, 2017 12:00 AM EDT Reads: 8,378
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Mar. 27, 2017 11:30 PM EDT Reads: 3,064