We will build 'the next-generation' PBM, Anthem CEO says

In October 2017, Anthem unveiled plans to establish an in-house pharmacy benefits manager called IngenioRx. Now, amid increasing public scrutiny of PBMs, executives at the Indianapolis-based insurer are promising a much more consumer-friendly, transparent experience, according to Bloomberg.

IngenioRx will not be like the traditional PBMs, Anthem CEO Gail Boudreaux said in a presentation at the company's investor day.

The in-house PBM will pass along rebates to customers at the pharmacy counter and  work to simplify services for patients and employers.

"We are not building a rebate-focused PBM," Ms. Boudreaux said during the presentation, according to Bloomberg. "We have the benefit and the advantage of building a next-generation PBM."

PBMs have increasingly faced criticism from patients and lawmakers for helping drive prescription drug costs higher in the U.S. Critics of PBMs say the rebate system, in which drugmakers pay discounts to PBMs, helps keep list prices high, which harms patients who do not have insurance.

Read the full report here.

 

More articles on payers:
5 must-reads on payer-provider relationships
8 recent lawsuits involving payers
State of the payer market: the growing need for infrastructure and operations

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months