Elevance Health PBM CarelonRx to launch prescription cost savings program
The program allows members to save on 50+ generic medications that are typically used by consumers with a discount card.
Photo: Jeff Lagasse/Healthcare Finance News
CarelonRx, the pharmacy benefit manager for Elevance Health, will launch a new cost savings program called EnsureRx, which will automatically compare prices of select covered generic medications against a variety of cash discount cards and apply the lowest cost for consumers at the pharmacy counter.
EnsureRx is an integrated cost savings solution that allows members to access savings on more than 50 generic medications that are typically used by consumers with a discount card.
Paul Marchetti, president of CarelonRx, said the company's ultimate goals "are to help members reduce their prescription drug costs, increase medication adherence and promote better health outcomes."
WHAT'S THE IMPACT?
EnsureRx will be a free, automatically integrated benefit for CarelonRx members. Commercial members will use their pharmacy member ID card at a retail pharmacy as normal and EnsureRx will identify and apply the lowest cost available to them on select generic medications.
Medications filled under the EnsureRx program will still count toward a member's deductible and out-of-pocket maximum.
Members will also be able to preview medication savings and pricing at various pharmacies via the Sydney Health app, CarelonRx website, Anthem website, or through customer service. EnsureRx will be available for commercial members in early 2024.
Elevance Health announced the launch of healthcare services brand Carelon in June 2022. Over the next couple of years, it will consolidate its existing broad portfolio of capabilities and services businesses. Carelon services range from research to integrated whole-person care delivery, pharmacy, behavioral health and digitally enabled solutions.
The previous acquisition announced by Elevance was that of BioPlus, a comprehensive specialty pharmacy, in November 2022. BioPlus provides a range of specialty pharmacy services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases and rheumatology.
THE LARGER TREND
Elevance Health posted a strong second quarter, achieving about $1.9 billion in revenue, good for 13.2% growth over the previous year's $1.6 billion haul, according to the company's July earnings report.
Operating gain in the Carelon segment was $632 million in the second quarter of 2023, an increase of $40 million from $592 million in Q2 2022.
Earlier this year, Elevance said it would be pursuing an acquisition of Blue Cross Blue Shield of Louisiana. The two organizations said they're "aligned in a mission" to improve access, quality and affordability for Louisianans.
Twitter: @JELagasse
Email the writer: Jeff.Lagasse@himssmedia.com
