SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 24, 2018--
Magellan Rx Management, the full-service pharmacy benefits management
division of Magellan Health, Inc. (NASDAQ:MGLN), today released its
third annual Medicaid
Pharmacy Trend Report. Developed through in-depth data analysis and
supported by Magellan’s broad national experience managing
fee-for-service (FFS) Medicaid pharmacy programs, this third edition
report examines clinically-appropriate drug use, cost-saving
opportunities and provides a detailed look into the increase of
specialty trend, Medicaid drugs in the pipeline, and the effect of the
“The Medicaid Pharmacy Trend Report helps inform the industry of unique
characteristics and challenges facing State Medicaid FFS plans and
guides states with solutions to address rising trends,” said Doug Brown,
vice president of account management, pharmacy pricing and value-based
solutions. “In this year’s report, we created a new view of the data by
combining the methodology used in the first two reports and focusing on
the classes that are driving the trends both positively and negatively
in the Medicaid space.”
With a focus on specialty trends, this year’s Medicaid
Pharmacy Trend Report:
Provides detailed information on Medicaid pharmacy economics,
drug-cost trends and drivers, category trends.
Presents solutions that maximize clinically-appropriate management
strategies such as preferred drug lists (PDLs), prior authorization
(PA), clinical criteria, and brand-over-generic opportunities to
identify and generate cost-saving opportunities.
Findings in this year’s report include:
The average net cost per claim decreased by 4.4 percent from $47.63 in
2016 to $45.53 in 2017.
Traditional drugs experienced a reduction in net cost per claim of 9.7
Despite the overall decline in net spend per claim, specialty spend
continued to rise with an 8.9 percent increase in gross cost per claim
and a 4.6 percent increase in net cost per claim.
In 2017, six of the top 10 drugs by net drug spend were specialty
drugs and two of the top five classes by net spend were not
traditionally managed by Medicaid plans.
To learn more about the current market trends and implications relating
to the unique Medicaid fee-for-service population, view our webinar here.
Rx Management Medicaid Pharmacy Trend Report includes data derived
from Magellan’s fee-for-service Medicaid pharmacy programs in 23 states
and Washington, DC. Magellan Rx Management is a full-service, next
generation PBM with a value-driven approach that moves past the
traditional volume-focused thinking to deliver meaningful solutions.
Magellan Rx Management services expand beyond traditional core services
to help their customers and members solve complex pharmacy challenges by
connecting them to the people, technology and information they need to
make smarter healthcare decisions. As pioneers in managing specialty
spend both on the prescription 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., a Fortune
500 company, 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.
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Source: Magellan Rx Management
Magellan Health, Inc.
Lilly Ackley, 860-507-1923