Navigation Links
RegenceRx Leads the Industry With Introduction of Medication Cost Integration

PORTLAND, Ore., Feb. 8 /PRNewswire/ -- Rapid developments in the pharmaceutical industry have led to a steady increase in the use and cost of "specialty" medications to treat chronic conditions such as arthritis and psoriasis. This has led to some inappropriate selection of these medications, higher overall drug costs and medication coverage being spread over both pharmacy and medical benefits.  Regence has introduced a new solution with Medication Cost Integration (MCI), which covers all medications under a single medication benefit. MCI is now available as part of the company's new self-insured suite of services, Integrated Health Solutions.  

"The growth of specialty medications has challenged health insurers, because we now have options that fall under both medical and pharmacy benefits. This meant widely differing co-pays, inconsistent member financial responsibility and more confusion for members and providers. Medication Cost Integration blends medication coverage into one benefit, with the same co-pay for different versions of a medication used to treat the same disease or condition," said David Clark, vice president of Pharmacy Services and president of RegenceRx. "Whether they receive their medication at a pharmacy or a physician's office, members can still get the treatment they need with medications that provide the best overall value."

About Medication Cost Integration

Specialty medications are high-cost injectable, infused or oral medications that are used to treat chronic conditions, including cancer, arthritis, psoriasis and multiple sclerosis.  

The MCI formulary is divided into a standard and extended 3-tier formulary.  How much the member pays for a medication depends on where it falls on the formulary. The Standard 3-Tier Formulary is similar to today's formulary, in that it covers all lower-dollar and most self-administered orals, topicals, suppositories, diabetic supplies and similar prescribed items. The Extended 3-Tier Formulary is comprised of three additional tiers for high-cost self-injectables, specialty, limited distribution products, cancer products, and medical medications/infusions.

The development of MCI was inspired by the results of Regence's own original research. The study showed that members who had medical-only benefits experienced a significantly higher increase in overall medical expenses than those with both medical and pharmacy benefits, and this unnecessarily increased the rate of medical claims cost growth. Regence concluded that an integrated medical and pharmacy benefit may enable plans to significantly slow claims costs and improve price transparency access to the information members need to manage their overall health care costs.

About RegenceRx

RegenceRx, one of the nation's few not-for-profit pharmacy benefit management groups, is a wholly-owned subsidiary of Regence. RegenceRx focuses on clinical evidence when building our list of preferred medications. The focus on lower net costs has saved Regence and our customers more than one billion dollars over the past 10 years.

About Regence

Regence is the largest health insurer in the Northwest / Intermountain Region, offering health, life and dental insurance. Regence serves more than 2.5 million members as Regence BlueShield of Idaho, Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield (selected counties in Washington). Each health plan is a nonprofit independent licensee of the Blue Cross and Blue Shield Association. Regence is committed to improving the health of our members and our communities, and to transforming our health care system. For more information, please visit or follow us on Twitter.

SOURCE Regence



SOURCE Regence
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Groundbreaking Study Proves Personalized Diet Based on Genetics Leads to Significant Advances in Long Term Weight Management and Blood Glucose Levels
2. Providence Hospital Study Finds Communication System Leads to Faster Heart Attack Treatment
3. Discovery Leads to Earlier Diagnosis of Type 1 Diabetes
4. Pharmaleads Lead Candidate for Pain, PL37, Enters Phase I
5. Texas Back Institute Leads Way in New Facet Joint Clinical Trial
6. Genetic Research Leads to New Discovery in Understanding Rare Neurological Disorder
7. San Ramon HR Firm Leads Response to New Cal/OSHA ATD Law
8. BodySculpt(TM) Leads FDA Approval of BodyTite(TM) with Largest Number of Documented Study Cases
9. Medical Equipment Company Owner Pleads Guilty to Fraud Scheme Involving Nutritional Supplies and "Arthritis Kits"
10. Los Angeles Business Owner Pleads Guilty to Submitting Nearly $1 Million in False and Fraudulent Claims to Medicare
11. Colombian National Pleads Guilty to Role in Defrauding the Export-Import Bank of the United States of More Than $1 Million
Post Your Comments:
(Date:10/13/2015)... Oct. 13, 2015  Kay Elledge, M.D., an ... American College of Obstetrics and Gynecology (FACOG) for ... establishing the Genuine Self Medical Laser Center where ... In recognition of Breast Cancer Awareness Month ... for MonaLisa Touch treatments initiated in ...
(Date:10/13/2015)... , Oct. 13, 2015  ContraVir Pharmaceuticals, ... "Company"), a biopharmaceutical company focused on the development ... the closing of its previously announced underwritten public ... and warrants to purchase up to 3,000,000 shares ... combined price to the public of $3.00. The ...
(Date:10/13/2015)... 13, 2015  Data Science Automation (DSA), a system integration ... new branch office in the United Kingdom ... Europe . The decision to open the ... local support of customers in the medical device industry throughout ... Branch Manager. "We have had tremendous success over the last ...
Breaking Medicine Technology:
(Date:10/13/2015)... PA (PRWEB) , ... October 13, 2015 , ... "My ... digging his fists into his infected cheeks," said an inventor from Platteville, Colo. "I ... their skin problems." , He developed the UNTOUCHABLE to prevent a child from rubbing ...
(Date:10/13/2015)... Nashville, Tennessee (PRWEB) , ... October 13, 2015 ... ... owned leader of anesthesia and pain management services, today announced its partnership with ... the partnership integrates data from disparate systems and organizes the data into an ...
(Date:10/13/2015)... ... 13, 2015 , ... According to an article published October 5th ... who successfully lose weight with a bariatric procedure are much less likely to develop ... notes that anywhere from 40 to 50 percent of all endometrial cancer cases are ...
(Date:10/13/2015)... CA (PRWEB) , ... October 13, 2015 , ... ... and workflow solutions, announced today their sponsorship of the Microsoft Dynamics AXUG, GPUG ... Nevada. AXUG Summit, GPUG Summit and NAVUG Summit are independent user conferences designed ...
(Date:10/13/2015)... TEXAS (PRWEB) , ... October 13, 2015 , ... ... and solution provider of IBM software products, introduced a new company, RightSensorâ„¢ LLC, ... systems and data communications capability. RightSensorâ„¢ provides a fully-managed approach for customers ...
Breaking Medicine News(10 mins):