SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Magellan Rx Management, the pharmacy benefits management division of Magellan
Health, Inc. (NASDAQ: MGLN), today released its second annual Medicaid
Trend Report. Developed through in-depth data analysis and supported
by Magellan's broad national experience managing the fee-for-service
(FFS) Medicaid pharmacy programs the report provides detailed insights
into the pharmacy economics that drive trend and the cost of care,
uncovering real opportunities for states to get more engaged and
innovative when it comes to pharmacy management, particularly in
specialty.
"While traditional drug trend was flat over the two-year period, the
Medicaid FFS space experienced double-digit growth in specialty, which
is similar to what we're seeing with commercial plans," said Doug Brown,
vice president of account management, pharmacy pricing and value-based
solutions. "This indicates that states, like commercial plans, are not
immune from the higher costs associated with specialty drugs and
highlights a real opportunity for states to take a more innovative
management approach. As thought leaders in specialty with a robust set
of clinical and cost management tools, Magellan Rx Management is helping
states to identify solutions to address these rising trends."
Other findings in this year's Medicaid
Trend Report include:
-
Even though utilization of specialty products remained constant, the
percent of total net spend attributed to specialty drugs increased by
almost 5 percent.
-
For the second year in a row, states' efforts to curb the prescription
volume of short-acting narcotics and opioids resulted in a 10 percent
decline in utilization.
-
The top 5 drug classes, which contribute 40 percent of total net spend
account for only 14 percent of total claims. Of those five classes,
two were specialty classes; HIV/AIDS and Hemophilia.
-
Six of the top 10 drugs by net spend were specialty drugs (Harvoni,
Advate, Triumeq, Genvoya, Stribild, Orkambi)
Magellan Rx Management leaders will host a free
webinar on September 27, 2017 at 2 p.m. Eastern to discuss current
market trends and implications relating to the unique Medicaid
fee-for-service population.
The Magellan
Rx Management Medicaid Trend Report includes data derived from
Magellan's fee-for-service Medicaid pharmacy programs in 21 states and
Washington, DC. Magellan Rx Management is a full-service PBM that
expands beyond traditional core services to help its customers and
members solve complex pharmacy challenges by connecting them to the
people, technology and information they need to make smarter healthcare
decisions. Magellan Rx Management is leading the next evolution of PBMs
by using a value-driven approach that moves past the traditional
volume-focused thinking to deliver true value-driven solutions,
including targeted clinical programs, powerful member and provider
engagement strategies, advanced analytics and expert specialty pharmacy
management capabilities. As pioneers in managing specialty spend under
both the pharmacy and medical benefit, Magellan Rx Management is
effectively-positioned to continue delivering thought-leading solutions
in this complex and rapidly growing area of healthcare to help people
live healthier lives.
About Magellan Health: Magellan
Health, Inc. is a leader in managing the fastest growing, most
complex areas of health, including special populations, complete
pharmacy benefits and other specialty areas of healthcare. Magellan
supports innovative ways of accessing better health through technology,
while remaining focused on the critical personal relationships that are
necessary to achieve a healthy, vibrant life. Magellan's customers
include health plans and other managed care organizations, employers,
labor unions, various military and governmental agencies and third-party
administrators. For more information, visit MagellanHealth.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170913005143/en/
Magellan Health, Inc.
Media Contact:
Colleen Flanagan
Johnson, 860-507-1923
cefjohnson@magellanhealth.com
or
Investor
Contact:
Joe Bogdan, 860-507-1910
jbogdan@magellanhealth.com
Source: Magellan Health, Inc.
News Provided by Acquire Media
