Prime Therapeutics at a Glance
| Industry: | Pharmacy benefit management |
| Headquarters: | Eagan, Minnesota |
| Other locations: | Chicago, IL; Omaha, NE; Albuquerque, NM; Irving, TX |
| No. of employees: | 1,500 |
| Ownership structure: | Privately held by organizations representing 10 Blue Cross and Blue Shield Plans in Florida, Illinois, Kansas, Minnesota, Nebraska, New Mexico, North Dakota, Oklahoma, Texas and Wyoming |
| Number of covered lives: | 14.6 million covered lives across 15 different Blue Cross and Blue Shield Plans |
| 2006 | 2007 (estimated) | |
| Drug spend managed | $6.2 billion | $8.4 billion |
| Annual claim volume | 89 million | 113 million |
Overview
Prime Therapeutics is a thought leader in pharmacy benefit management (PBM) strategies. Our mission is to provide the highest quality care and service for members and empower clients to make informed decisions in health care management.
Our experience, combined with our long-standing commitment to act in the best interests of members and clients, makes Prime the right choice to meet your health care quality and cost management goals.
History
Prime Therapeutics is one of the more experienced PBMs in the industry today. Over 20 years ago one of Prime's predecessors, Pharmacy Gold, began offering high-quality drug formulary services. These services later turned into the comprehensive PBM known today as Prime Therapeutics.
Areas of Differentiation
- Client-aligned incentives for low net-cost solutions
- Unique service model for unmatched client collaboration and expertise
- Competitive pricing and extensive disclosure for maximum cost savings
- Integrated pharmacy and medical programs for total health care management
Target Market
Blue Cross and Blue Shield Plans and their employer groupsServices
- Claims processing
- Clinical and medication management
- Consumer-directed benefits (CDHP)
- Drug utilization review
- Formulary management
- Generic drug programs
- Mail service
- Manufacturer contracting
- Medicare Part D administration
- National pharmacy networks
- Predictive benefit modeling
- Rebate administration
- Reporting and analysis
- Specialty drug management
- Trend forecasting
- Utilization management
- Web-based drug cost calculators and tools