Pharmacy Industry News: CIGNA Receives Pharmacy Benefit Management Institute Innovation Award
CIGNA Receives Pharmacy Benefit Management Institute Innovation Award
CIGNA’s (NYSE: CI) outcomes-based approach to pharmacy contracting was recognized with an award for innovation in the drug benefit industry by the Pharmacy Benefit Management Institute (PBMI). The award was presented today at PBMI’s 16th Annual Drug Benefit Conference in Phoenix. CIGNA was selected as one of this year’s award recipients based on the program’s overall originality, strength of reported results and potential to improve medical outcomes.
“Our 2011 award recipients have demonstrated creative thinking by designing solutions to address numerous challenges in prescription drug programs,” said Tim Watson, PharmD, MBA, executive director of PBMI. “Their example will inspire other plan sponsors to implement one or more of these approaches in their own populations.”
In 2009, CIGNA Pharmacy Management and Merck entered into the pharmacy benefit management (PBM) industry’s first national outcomes-based contract between a PBM and a pharmaceutical company. The contract was designed to improve medication adherence and improve blood sugar levels for CIGNA customers who have type 2 diabetes.
A year after the contract was implemented, results showed that there was improved blood sugar control and blood sugar testing during the contract period. According to a study published in the June 2005 edition of Medical Care, quality of life improves dramatically and estimated savings for individuals and employers could be up to $8,000 per person who has diabetes when medication adherence is between 80 and 100 percent. Medication adherence was 87 percent for the CIGNA-Merck outcomes based contract.
“CIGNA is pleased to be recognized for our efforts to focus our work and that of the health care system as a whole on improving people’s health,” said C. Daniel Haron, president, CIGNA Pharmacy Management. “Though this award is specific to the pharmacy benefits management industry, we would also like to recognize Merck. Without their willingness to be the first pharmaceutical company to pilot an outcomes-based contract, this recognition would not have been possible.”
Pharmacy Benefit Management Institute Recognizes Innovation in Drug Benefit Industry
The Pharmacy Benefit Management Institute (PBMI) has awarded four 2011 Rx Benefit Innovation Awards to the Center for Health Value Innovation, Cigna Pharmacy Management, CVS Caremark / Arcelor Mittal, and InformedRx, an SXC company. The awards were announced today at PBMI’s 16th Annual Drug Benefit Conference in Phoenix.
The recipients of this year’s awards were selected based on the project’s overall originality, strength of reported results, and potential to improve patient outcomes. “Our 2011 award recipients have demonstrated creative thinking by designing solutions to address numerous challenges in prescription drug programs,” says Tim Watson, PharmD, MBA, Executive Director of PBMI. “Their example will inspire other plan sponsors to implement one or more of these approaches in their own populations.”
Center for Health Value Innovation
The Center for Health Value Innovation is being recognized for their pioneering work in the design, implementation and measurement of Value Based Insurance Designs. The center’s co-founder and Chief Medical Officer, Jack Mahoney led the charge behind Value Based Design with a firm resolve to prove that lowering access barriers to health care services could ultimately engage the most at risk populations, thereby improving care and lowering costs. The center’s work to measure and disseminate outcomes associated with these design strategies continues to provide guidance to others who wish to implement these programs in their population.
Cigna Pharmacy Management
Cigna Pharmacy Management is being recognized for their creative approach to contracting for pharmaceuticals that is based on achievement of specific therapeutic outcomes. In 2009, Cigna Pharmacy Management and Merck & Co., Inc. entered into the pharmacy benefit management industry’s first national outcomes based contract between a PBM and a pharmaceutical firm. A year after the contract was implemented, results showed that there was improved blood sugar control and blood sugar testing during the study. The company stated that “estimated savings for individuals and employers could be almost $8,000 per person who has diabetes per year when that individual increases adherence to over 80%.”
CVS Caremark / ArcelorMittal
CVS Caremark / ArcelorMittal are being recognized for their efforts to improve the treatment of diabetes in the steel company’s population. More than half of people diagnosed with a chronic disease, including diabetes, are either non-adherent to the prescribed medication or have a gap in care. The program designed and implemented by the companies sought to improve medication adherence in diabetics by engaging pharmacists who are expertly trained in medication therapy management principals. The program included both telephonic counseling, and face-to-face interventions, according to the patient’s preference. After six months, the program demonstrated significant improvements in closing gaps in care and increasing medication adherence compared to a control group. In addition, the program results demonstrated health care savings of nearly $1,700 annually for patients with diabetes.
InformedRx, an SXC company
InformedRx is being recognized for their efforts to minimize inappropriate prescribing of controlled substances. Use of multiple narcotics can have adverse effects on both members and plan sponsors, including: compromised patient safety, risk of addiction and diminished quality of life, risk of on the job injuries and wasting scarce health plan resources. InformedRx designed a program of pharmacist review and intervention in which targeted interventions were sent to physicians with the goal of improving prescribing patterns for this important class of medications. The program demonstrated strong results, including: 58% fewer narcotic prescriptions written, 57% fewer prescribers writing narcotic prescriptions, and an average savings per case of $105.16.
Canada Drugs Pharmacy has popularity all over the world
Among all the issues which are there for the American government to deal there are two significant- the healthcare coverage and rising cost of prescription drugs.
With the changing times and ever increasing inflation it has become difficult for an average American to purchase prescription drugs without an insurance. He is led to choose between his daily needs and these prescribed medicines.
These circumstances has led to the increasing in the industry of Canada drugs pharmacy and more and more people are getting attracted to the Canada online pharmacy industry which is significantly lower at around 40- 90 %. Before purchasing any medicines it is very essential to ensure the right online pharmacy which has a license and is selling the right and authentic stuff. There are some websites which give the exact information about the prescription drugs online availability along with its US counterpart which gives the customer a chance to settle their choice. It was astonishing for the US government to find out that a report of the GAO (government accountability office) stated lesser problems with Canadian drugs pharmacy than that of the US. In another report by Paul Doering of university of Florida college of pharmacy, it was observed that there could not be any instance found of someone getting hurt by Canadian pharmacy drugs.
An important drawback about the Canadian drugs pharmacy is that it cannot be called during an emergency as the usual time of delivery is 4-21 days depending on the kind of requirements. So the customers need to give the order before they require the medicine.