Cision PR Newswire
Magellan Rx Management issues seventh Medicaid Pharmacy Trend Report™
News provided byPrime Therapeutics LLC
Jan 25, 2023, 8:00 AM ET
Features new highlights and rankings of the top 50 drug classes by percent of net spend
EAGAN, Minn., Jan. 25, 2023 /PRNewswire/ -- Magellan Rx Management (Magellan Rx), a Prime Therapeutics LLC (Prime) company, released its seventh annual Medicaid Pharmacy Trend Report™, the industry report detailing trends in the Medicaid pharmacy fee-for-service (FFS) space. The Medicaid Pharmacy Trend Report highlights the evolving landscape of the Medicaid FFS segment and is a detailed industry source for the analysis of gross, net, and forecasted drug cost trends in the space. This year's report tracks the top classes and individual drugs by spend, with a deep dive into the top 10 classes driving trend and their resulting impact on the Medicaid program. New this year, the report ranked the top 50 classes by percent of net spend comparing 2020 to 2021.
"As the nation emerges from intense management of COVID-19, states and Medicaid agencies will again focus their efforts on other pressing issues in the coming years, including paying for curative therapies and high-cost drugs, addressing the opioid epidemic and challenges with mental health resources," said Meredith Delk, PhD, MSW, general manager and senior vice president, state government solutions for Magellan Rx. "In 2021, states continued to explore and implement efforts to counterbalance the increasing cost of specialty drugs with unique payment models, including subscription and outcomes-based contracting models."
The Medicaid Pharmacy Trend Report includes data from Magellan Rx's Medicaid FFS pharmacy programs in 24 states and the District of Columbia. The material is reviewed and supported by a team of Magellan Rx experts with broad national expertise in Medicaid and pharmacy benefit management (PBM). Magellan Rx has more than 40 years of Medicaid-focused experience and administers pharmacy programs for Medicaid agencies of all sizes. Magellan Rx tailors services to meet the specific needs of each unique Medicaid population to improve clinical outcomes and help ensure coordination of care. One of its innovative solutions, MRx Value Plus, offers value-based contracting in the Medicaid space to positively impact total cost of care on behalf of Medicaid programs.
About Prime Therapeutics + Magellan Rx
Prime Therapeutics LLC (Prime) is a diversified pharmacy solutions organization serving health plans, employers and government programs. Prime is collectively owned by 19 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Magellan Rx Management, 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 www.primetherapeutics.com and www.magellanrx.com, or follow us on Twitter at @Prime_PBM and @Magellan_Rx.
Public Relations Manager
SOURCE Prime Therapeutics LLC