Prime MRx Announce Partnership to Reduce Specialty Drug Prices for Plan Providers
The platform, named Pharmacy Match, will connect markets for specialty drugs.
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Prime MRx announced that it is launching a pharmaceutical platform for plan sponsors.1 This platform will use real-time pricing and incorporate an expanded pharmacy network in an effort to help drive down drug costs.
In a press release, Prime/MRx senior vice president of pharmacy and care solutions Nathan Downhour said, “Providing access to rapidly expanding specialty treatments while controlling cost is one of the biggest challenges facing health care today. Pharmacy Match is one example of how we are working to expand access to affordable medications while helping members navigate their specialty journey."
Downhour also said, “"Prime/MRx's priority is to improve the specialty pharmacy ecosystem. We envision an intelligently designed, technology-enabled specialty care model that improves the experience for members, from prescription intake to fulfillment, while eliminating complexities, driving savings and reducing waste. Pharmacy Match is our first step toward this vision."
The platform will focus on bringing together options for specialty drug offerings. Due to the fragmented nature of specialty drugs, plan providers are often faced with limited options for securing these drugs, which drives the price up. Prime/MRx’s platform hopes to bring these markets together and provide more options.
In the same press release, Free Market Health founder and CEO Joe Cardosi said, “Our technology platform is a proven flexible solution that delivers plan sponsors unprecedented control over their specialty drug management programs, enabling them to efficiently balance the cost of care with the value that care provides in their unique markets. We're excited to partner with Prime as we share a common goal of streamlining the fragmented drug delivery system so patients can seamlessly start and continue their specialty drug treatments to achieve the best possible outcomes."
Prime Therapeutics also recently announced that Mike Edwards had been named president of markets for the company, and that he would oversee the company’s growth and client engagement services.2
In a press release, Prime Therapeutics’ CEO Mostafa Kamal said, “Mike is an accomplished leader with deep expertise in our business and a proven track record. I am thrilled he is joining our leadership team as we sharpen our focus on delivering differentiated solutions and service to our clients. Under Mike's leadership, we will bring together our enterprise-wide sales, client engagement, and Medicare and Medicaid teams with a laser focus on being consultative partners with our clients to deeply understand their strategies and needs."
Sources
- Prime/MRx’s New Pharmacy Match Technology-Driven Solution Expands Specialty Pharmacy Access and Choice. Prime Therapeutics, LLC. June 19, 2024. https://www.prnewswire.com/news-releases/primemrxs-new-pharmacy-match-technology-driven-solution-expands-specialty-pharmacy-access-and-choice-302176824.html
- Prime Therapeutics Hires Industry Veteran Mike Edwards to Lead New Market-Focused Organization. Prime Therapeutics, LLC. June 10, 2024. Accessed June 19, 2024. https://www.prnewswire.com/news-releases/prime-therapeutics-hires-industry-veteran-mike-edwards-to-lead-new-market-focused-organization-302167582.html
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