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Oklahoma State Medicaid Adopts Drug Price Benchmark, PAC
Date:10/1/2013

TAMPA, Florida, October 1, 2013 /PRNewswire/ --

OK Medicaid selects Predictive Acquisition Cost (PAC) to improve efficiencies in managing pharmacy reimbursement and reduce drug spend

Elsevier, the leading provider of scientific, technical and medical information products and services, announced today that Oklahoma State Medicaid, managed by Oklahoma Health Care Authority - SoonerCare, has selected Predictive Acquisition Cost (PAC) to better manage its State Maximum Allowable Cost (SMAC) drug price list to improve administration efficiencies and reduce overall drug spend.

PAC, developed by Glass Box Analytics and exclusively published by Elsevier's Gold Standard, is a new drug price type that more closely tracks true acquisition cost by leveraging proven concepts from other industries and applying the power of predictive analytics to drug pricing. Independent tests show that PAC comes closer to true acquisition cost than alternatives.

SoonerCare (Oklahoma Medicaid) is a health coverage program jointly funded by the federal and state government. The Oklahoma Health Care Authority (OHCA) is the state agency that administers and determines financial eligibility for the program. SoonerCare currently serves more than 790,000 members under the fee for service pharmacy benefit.

In search of a more efficient method for managing pharmacy reimbursement, the agency found that PAC is cost effective and allows for better analysis of drug cost and reimbursement amounts.

"PAC provides an accurate reflection of the true acquisition cost for all drugs and helps our agency know where to set SMAC prices that reflect the true dr
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SOURCE Elsevier
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