Press Release: Anthem Launches IngenioRx, New Pharmacy Benefits Manager
|Anthem Launches IngenioRx, New Pharmacy Benefits Manager|
|INDIANAPOLIS–(BUSINESS WIRE)–Oct. 18, 2017– Anthem, Inc. (NYSE: ANTM), one of the nation’s largest health benefits companies, announced today it is establishing a new pharmacy benefits manager to be named IngenioRx. IngenioRx will begin offering a full suite of PBM solutions starting in 2020, which coincides with the conclusion of the company’s current PBM contract.
“As a company, we continuously seek bold, innovative solutions that achieve consumer access to high quality, affordable healthcare,” said Joseph R. Swedish, Chairman, President and Chief Executive Officer, Anthem. “During the past two years, we have been very clear that we can strengthen the value offered to the marketplace with an improved and aligned PBM model. Through the process of evaluating many PBM options in preparation for the expiration of our current contract, we determined that our scale and experience best position us to deliver an innovative solution, and the launch of IngenioRx will allow us to break through what is now a complex and fragmented landscape. It also positions Anthem to take advantage of a unique opportunity to grow and diversify our business within our existing footprint as well as nationally.”
IngenioRx will serve customers of Anthem affiliated health plans, as well as non-Anthem customers, with a seamless, integrated experience by taking Anthem’s new model to the national marketplace. The IngenioRx pharmacy leadership team combined has more than 100 years of experience in the PBM industry, which will be invaluable in helping to ensure a seamless transition for members.
Anthem has signed a five-year agreement with CVS Health, for services beginning Jan. 1, 2020. IngenioRx will combine its member and provider engagement initiatives and market leading pricing with CVS’ expertise in point-of-sale engagement, such as member messaging and Minute Clinic. CVS will also provide prescription fulfillment and claims processing services.
“This combination, paired with the clinical expertise, deep provider relationships and focus on customer centricity of Anthem’s affiliated health plans, will create a holistic, integrated approach to managing health and driving better outcomes,” said Brian T. Griffin, Executive Vice President, Commercial and Specialty Division, who oversees Anthem’s pharmacy business and will continue to be the executive champion through the transition. “In partnership with CVS, transitioning members seamlessly to our new solution will remain Anthem’s top priority.”
Transition planning will focus on ensuring continuity of member coverage as Anthem migrates health plan members. Until the transition, members will continue to use their benefits the same as they do today.
To learn more about IngenioRx, visit www.ingenio-rx.com.
Conference Call and Webcast
Anthem management will host a conference call and webcast today at 8:30 a.m. Eastern Daylight Time to discuss the PBM strategy. The conference call should be accessed at least 15 minutes prior to the start of the call with the following numbers. An investor presentation is available for download www.antheminc.com under the “Investors” link.
An access code is not required for today’s conference call. The access code for the replay is 431382. The replay will be available from 11 a.m. ET today, until the end of the day on Nov. 1, 2017. The call will also be available through a live webcast at www.antheminc.com under the “Investors” link.
About Anthem, Inc.
Anthem is working to transform health care with trusted and caring solutions. Our health plan companies deliver quality products and services that give their members access to the care they need. With over 74 million people served by its affiliated companies, including more than 40 million within its family of health plans, Anthem is one of the nation’s leading health benefits companies. For more information about Anthem’s family of companies, please visit www.antheminc.com/companies.
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Source: Anthem, Inc.