6 recent payer pharmacy moves

Payers are swapping pharmaceutical benefit managers, incorporating partnerships with Amazon and looking at billionaire investor Mark Cuban’s new approach to dispensing medications. 

Here are six payer pharmacy moves Becker’s has included due to the fact Oct. 6. 

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1. Elevance Health and fitness is set to purchase the nation’s biggest unbiased specialty pharmacy, BioPlus. The moment the deal closes, the specialty pharmacy administration organization will work as part of IngenioRX, Elevance Health’s pharmaceutical reward supervisor.

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2. Amazon Pharmacy is scooping up contracts with payers across the nation. Commencing following calendar year, Amazon Pharmacy will become the unique dwelling prescription shipping assistance for in excess of 2 million Florida Blue members. The online pharmacy will also be a desired retail pharmacy service provider for 1.5 million Centene Medicare Edge customers in 2023.

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3. Cigna is paying out $200 million to combine Express Scripts as Centene’s new pharmacy reward manager for 20 million members beginning in 2024. CVS Overall health executives told investors the firm is expecting a $2 billion decline in 2024 revenues in element due to the loss of its pharmacy positive aspects agreement with Centene.

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4. Blue Cross Blue Defend of Massachusetts additional a pharmacy advantages partnership with CVS Caremark. BCBS Massachusetts customers will have obtain to specified generic medicines without charge-sharing, a price tag-share help method, pharmacy advising and diabetic issues care from CVS Caremark.

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5. Value In addition Drug Co., Mark Cuban’s online pharmacy, has picked up a partnership with Vivio, a San Leandro, Calif.-primarily based specialty drug management system. Vivio, which markets by itself as a PBM choice, has clinicians and scientists match evidence from drug trials with individual affected individual knowledge to improve results and reduce fees for their customers, which involve health options and self-insured employers.

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6. Funds Blue Cross will be the 1st payer husband or wife of Charge In addition Drug Co. The PBM at present delivers virtually 1,000 generic remedies and only costs individuals 15 percent a lot more than it pays to get the drug from the producer, alongside with a $3 for every prescription dispensing payment plus delivery.

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