Prime Therapeutics LLC and Magellan Rx Management launched Pharmacy Match, a technology-enabled specialty pharmacy solution designed to drive competition through an expanded specialty pharmacy network and to lower drug costs for plan sponsors.
Using real-time pricing, Pharmacy Match drives affordability for plan sponsors while offering access to the most competitive pharmacy for each member
EAGAN, Minn., June 19, 2024 /PRNewswire/ -- Prime Therapeutics LLC and Magellan Rx Management (Prime/MRx) today launched Pharmacy Match, a technology-enabled specialty pharmacy solution designed to drive competition through an expanded specialty pharmacy network and to lower drug costs for plan sponsors.
Specialty drugs remain the fastest-growing area of pharmacy spend, accounting for more than half of the total pharmaceutical market today.1 That share is skyrocketing, driven by price increases and the introduction of new treatments,2 further threatening affordability for stakeholders. The inherent fragmentation and complexity in the specialty pharmacy space exacerbates these issues, hindering patient access to necessary therapies and complicating efforts to manage costs effectively in an evolving market.
Pharmacy Match further amplifies Prime/MRx’s distinctive conflict-free approach to the prescription drug supply chain model by offering members access to a broader network of quality specialty pharmacies, reducing reliance on any single pharmacy partner and promoting real-time competition. Another distinguishing feature is that Pharmacy Match is complementary to other existing Prime/MRx programs, including IntegratedRx® with a proven industry-leading 95% satisfaction rating.
“Providing access to rapidly expanding specialty treatments while controlling cost is one of the biggest challenges facing health care today,” said Nathan Downhour, senior vice president, pharmacy and care solutions at Prime/MRx. “Pharmacy Match is one example of how we are working to expand access to affordable medications while helping members navigate their specialty journey.”
Pharmacy Match, powered by Free Market Health‘s proprietary, cloud-based technology platform, helps members smoothly flow through their specialty journey. To help create a frictionless experience, the real-time referral feature comparison shops the market and helps ensure members’ specialty medications are provided by the specialty pharmacy best suited to meet their needs. And to help alleviate uncertainty, Pharmacy Match members who are new to therapy are engaged early to help ensure an uninterrupted journey. Through this platform, each specialty claim is tracked to fulfillment, elevating the experience for plan sponsors and their members.
“Our technology platform is a proven flexible solution that delivers plan sponsors unprecedented control over their specialty drug management programs, enabling them to efficiently balance the cost of care with the value that care provides in their unique markets,” said Joe Cardosi, founder and CEO of Free Market Health. “We’re excited to partner with Prime as we share a common goal of streamlining the fragmented drug delivery system so patients can seamlessly start and continue their specialty drug treatments to achieve the best possible outcomes.”
“Prime/MRx’s priority is to improve the specialty pharmacy ecosystem. We envision an intelligently designed, technology-enabled specialty care model that improves the experience for members, from prescription intake to fulfillment, while eliminating complexities, driving savings and reducing waste,” Downhour added. “Pharmacy Match is our first step toward this vision.”
To understand how Prime/MRx is charting a different path than its competition and creating a new standard for the pharmacy-solutions industry, visit primetherapeutics.com.
About Prime Therapeutics + Magellan Rx
Prime Therapeutics LLC is a diversified pharmacy solutions organization serving health plans, employers and government programs. Magellan Rx Management, LLC, a Prime Therapeutics LLC Company, is a pioneer in specialty and medical drug management and a leader in serving public sector state government programs. Together, Prime and Magellan Rx provide a wide range of clients with solutions that bridge the distance between medical and pharmacy management. For more information, visit primetherapeutics.com and magellanrx.com or follow us on X (Twitter) at @Prime_PBM and @Magellan_Rx.
About Free Market Health
Founded in 2019 and headquartered in Pittsburgh, Free Market Health partners with forward-thinking payers and specialty pharmacies of all sizes to streamline the complex and opaque specialty medication fulfillment process to ensure patients have prompt access to lifesaving and life-altering medications. Free Market Health opens up a dynamic, care-driven marketplace that empowers its stakeholders to optimize resources and maximize opportunities with the goal of balancing the cost of care and the value that care provides. Learn more at www.freemarkethealth.com.
1. Insights Into the 2023 U.S. Pharmaceutical Market. IQVIA. Accessed May 20, 2024.
2. U.S. Insights: January 2024 Drug Price Changes. IPD Analytics. March 2024.
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SOURCE Prime Therapeutics LLC
