In a joint announcement, Centene, Walgreens, and RxAdvance announced that the three companies will be working together to introduce an innovative pharmacy benefit management (PBM) model that will increase access, enhance customer experience, and improve overall patient outcomes.
Centene and Walgreens have an existing partnership but the companies explained in a press release that they will be able to significantly build upon their comprehensive health care services by utilizing RxAdvance’s Collaborative PBM Cloud platform. The press release explained that this new partnership “addresses the need for leading companies to collaborate on a better model, and one which provides higher quality care and lower pricing for drugs.”
“Centene is committed to supporting a transparent pharmacy benefit management model that is sustainable with higher quality care for members at a lower cost to our customers,” said Michael F Neidorff, chairman, president and CEO, Centene in the press release. “This new approach to pharmacy management will improve the transparency and quality of care, while reducing unnecessary medical costs for millions of people.”
The Collaborative PBM cloud platform “delivers integrated services that reduce overall pharmacy costs and avoidable drug-impacted medical costs while optimizing specialty spend,” making it a go-to platform for clinical and transactional application.
“Collaboration between retail pharmacies and payers like Centene can further transform the way we provide care,” said Stefano Pessina, executive vice chairman and CEO, Walgreens Boots Alliance, Inc, in a statement. “Using RxAdvance’s Collaborative PBM Cloud, our partnership can empower our pharmacists to make critical decisions at the point of sale to help improve adherence and also to reduce avoidable medical costs.”
The model will be rolled out to specifically chosen markets that the companies have determined, while working with community leaders on new pharmacy models.
“By pushing the limits of innovative technology and existing transaction standards, there is a clear path forward to reduce administrative costs, avoidable medical costs, and to improve overall quality of care,” said Ravi Ika, founder and CEO, RxAdvance, in the press release. —Edan Stanley