Magellan Rx Management
In an era when cost containment and quality care are constantly challenged, Magellan Rx Management, prescription benefits manager, consistently finds ways to offer its clients the best information, resources, programs and services at the lowest possible cost.
Magellan Rx Management makes it easy for its clients to make quality-based decisions that lead to more-efficient cost control, improved outcomes and increased member satisfaction. They offer a powerful delivery alternative that provides significant advantages over other pharmacy benefits managers (PBMs), bringing you insight, integrity and the best information, resources and services possible.
- Unbeatable Advantages
- A consultative partnership
- An open-book philosophy
- Flexible benefits design and online access
- Innovative reporting tools and capabilities
- Effective clinical management
- State-of-the-art specialty pharmacy management
Before moving to Magellan Rx Management, this 3,400-member hospital system’s prescription costs were trending significantly higher each year. In addition to the various fiscal challenges were complaints of weak and lackluster service and reporting on behalf of its PBM. Understanding the severity of these issues and the long-term problems they posed, this client wanted to work with a PBM that provided real solutions to effectively control pharmacy costs, steer appropriate utilization, improve member health and influence the use of generic medications whenever possible. It knew it needed to partner with a PBM that would not only help support its pharmacy goals, but that would also provide the level of service and reporting necessary to keep the plan on track and moving in the right direction.
Upon selecting Magellan Rx Management as their PBM, this client adopted the ‘Lowest Total Cost’ formulary where utilization is driven to cost-effective and clinically appropriate medications and tightly managed for compliance. In addition, this client wanted to take advantage of their own pharmacy, so Magellan Rx Management implemented a program that drove prescriptions from mail to a 90-day retail program using the hospital’s in-house pharmacy.
By fine-tuning their tactical approach to pharmacy benefits with Magellan Rx Management, this client has not only been able to experience significant savings in prescription drug spending and improved member behavior, but it has also appreciated the exceptional service and reporting that comes with a company that is dedicated to a client’s cause. Within the first six months, this client experienced the following: