Magellan Rx Management’s Fourth Annual Medicaid Pharmacy Trend Report Details Trends in Medicaid Fee-for-Service Pharmacy P...
September 17 2019 - 6:30AM
Business Wire
Magellan Rx Management, the full-service pharmacy benefits
management division of Magellan Health, Inc. (NASDAQ: MGLN), today
released its fourth annual Medicaid Pharmacy Trend ReportTM, the
industry’s leading report that is developed through in-depth data
analysis and supported by Magellan’s broad national experience
managing fee-for-service (FFS) Medicaid pharmacy programs.
To stay ahead of trends, this year’s report outlines emerging
and innovative state strategies for managing high-cost Medicaid
prescription drugs. The report now includes a forecast of the top
key conditions in Medicaid along with a pipeline analysis of drugs
expected to impact the Medicaid program.
Key findings in this year’s report include:
- Specialty net trend of 6.1 percent, up slightly over last year,
continued to contribute positively to the overall net trend, but is
well below the 20.5 percent net trend we saw in 2016.
- Traditional net trend declined from -5.1 percent in 2016 to
-2.6 percent in 2018. Even with the negative trend, it is not
declining at the same pace as the previous two years.
- The average net cost per claim was nearly flat at 0.8 percent
change, compared to -4.4 percent in 2017.
- Magellan Rx’s new analytics product, MRx Predict, shows the
overall gross trend is expected to marginally rise from 2018 as
new, groundbreaking therapies, and specialty drugs continue to
create upward pressure.
“The Medicaid Trend Report is an effective tool in providing
states with data and solutions to better manage cost trends and
improve budget predictability for their Medicaid FFS pharmacy
benefit management program, ” said Doug Brown, vice president and
chief strategy officer, government markets, Magellan Health. “The
report examines drug classes with the largest effect on Medicaid
net spend, cost-saving opportunities and a detailed look at how
recent legislative and state program innovation has and will affect
the Medicaid program.”
To learn more about the current market trends and implications
relating to the unique Medicaid fee-for-service population,
register for our upcoming webinar here.
The Magellan Rx Management Medicaid Pharmacy Trend Report
includes data derived from Magellan’s fee-for-service Medicaid
pharmacy programs in 24 states and the District of Columbia.
Magellan Rx Management is a full-service, next generation PBM with
a value-driven approach that moves past the traditional
volume-focused thinking to deliver meaningful solutions. Magellan
Rx Management services expand beyond traditional core services to
help their customers and members solve complex pharmacy challenges
by connecting them to the people, technology and information they
need to make smarter healthcare decisions. As pioneers in managing
specialty spend both on the prescription and medical benefit,
Magellan Rx Management is effectively-positioned to continue
delivering thought-leading solutions in this complex and rapidly
growing area of healthcare to help people live healthier lives.
About Magellan Health: Magellan Health, Inc., a Fortune
500 company, is a leader in managing the fastest growing, most
complex areas of health, including special populations, complete
pharmacy benefits and other specialty areas of healthcare. Magellan
supports innovative ways of accessing better health through
technology, while remaining focused on the critical personal
relationships that are necessary to achieve a healthy, vibrant
life. Magellan's customers include health plans and other managed
care organizations, employers, labor unions, various military and
governmental agencies and third-party administrators. For more
information, visit MagellanHealth.com.
(MGLN-GEN)
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version on businesswire.com: https://www.businesswire.com/news/home/20190917005190/en/
Media Contact: Lilly Ackley, ackleyl@magellanhealth.com,
(860) 507-1923 Investor Contact: Joe Bogdan,
jbogdan@magellanhealth.com, (860) 507-1910
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