Prime Therapeutics’ MedDrive™ program leverages biosimilars to cut member drug expenses by 26% in one year
New integrated drug management solution leverages biosimilars to help reduce drug spendMay 23, 2022
EAGAN, Minn. – Prime Therapeutics LLC (Prime) announced that its MedDrive™ program achieved significant savings in its first year, with biosimilars for treating cancer leading the way. The program, originally launched in May 2021, uses advanced analytics to help health plans uncover opportunities to reduce current drug spend.
“Drug prices continue to rise, which puts pressure both on insurers and the members they serve,” said Kelly McGrail-Pokuta, vice president of trade relations and strategy and chief trade relations officer at Prime. “MedDrive leverages the collective strengths of Blue Plans and Prime to put the brakes on medical drug spend without compromising patient care.”
MedDrive has already helped Prime’s clients realize savings by improving manufacturer contracts and recommending the use of biosimilars and other low-cost alternatives to expensive brand-name specialty drugs.
“Biosimilars, while originally slow to adoption, are gaining a lot of traction in the U.S. and are proven to be helpful in reducing costs for patients who require specialty drugs, like those fighting cancer,” said Pokuta. “Within the MedDrive program, just three biosimilar categories that we’ve recommended to our clients have helped cut total drug expenses by 26% over the past year, with more savings anticipated in the next year.”
In addition to identifying cost savings through biosimilar use when applicable, MedDrive leverages advanced analytics and proactive consulting to understand what factors are driving a client’s medical drug spend and pinpoint specific changes that can surface savings.
“Prime has partnered with market-leading health plans to develop its MedDrive program, helping to scale innovative solutions that deliver greater cost savings and care quality,” said David Robertson, vice president of clinical pharmacy services for Regence health plans. “This includes Regence’s innovative and successful efforts to drive biosimilar adoption, significantly reducing drug spend while maintaining treatment efficacy.”
As biosimilar use continues to climb, so will opportunities for clients using the MedDrive program.
“To further enrich the value of our medical drug management solutions, Prime recently announced plans to acquire Magellan Rx,” added Pokuta. “We made this big, bold play to enhance one of our most important strategic priorities – leading the industry with a next-generation integrated specialty management model, one that lowers costs and keeps the member at the center of all we do.”
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