Nexus Insurance Managers selects RxResults’ Specialty Drug Management to mitigate rising pharmacy benefit costs
Little Rock, Arkansas — It is no secret that healthcare costs in the United States are out of control. Specialty drugs are proving to be a primary contributor to the expense.
- Specialty drug treatment regimens can reach upward of $100,000 per year.
- The cost of specialty drugs is expected to be 50% of the total pharmacy spend by 2018.
- 70% of the drugs approved by the FDA in 2014 were in the specialty category.
RxResults Specialty Drug Management program is poised to revolutionize the way specialty drug costs are managed. Through an evidence based medicine approach, RxResults can provide clinically sound, member-centered and cost effective prescription benefit risk management.
“We have evaluated several solutions related to the pharmacy spend, and we will feel RxResults provides a very timely one for Specialty Drug utilization”, says Kenneth Walker, a principal at Nexus Insurance Managers. “Their solution is affordable and addresses the key concern about plan control and effective drug therapy, which in turn, will drive a good ROI”. Walker added, “Nexus is including the Specialty Drug Management solution with all stop loss quotes and is actively marketing the services to our TPA and Broker relationships.”
“RxResults is uniquely positioned to manage specialty drug utilization” says Tery Baskin, President and CEO of RxResults. “Through our relationship with University of Arkansas for Medical Sciences (UAMS) College of Pharmacy, RxResults continuously reviews the latest studies and research on specialty drug outcomes and uses this information to help ensure these expensive medications are appropriate for each patient and the stage of their health condition.”
RxResults’ Specialty Drug Management solution provides:
- Prior Authorization services to make sure the right members that meet the right clinical criteria get the right drugs at the right time in order to attain the best health outcomes;
- Analytics that deliver transparency and actionable insights; and
- Assistance with benefit design to be sure the coverage criteria for specialty drugs is evidence-based.
Solon Webb, also a principal at Nexus Insurance Mangers added, “RxResults gives Nexus and our clients a proactive approach to managing these dollars. With drug manufacturers spending millions on advertising and offering the distributors (often PBM’s) incentives to promote the drug, we needed an independent, unbiased organization to help protect our clients and their members.”
About RxResults:
RxResults is the proven industry leader for evidence-based pharmacy risk management. RxResults identifies health plan savings, mitigates risk and immediately delivers a significant return on investment. RxResults features an exclusive joint-collaborative with the UAMS Evidence-Based Medicine Center and is led by an independent team of pharmacists, physicians and benefit industry experts. Leveraging proprietary informatics, clinical expertise and business processes, RxResults formulates actionable insights and implements strategic initiatives for specialty drug management, formulary management, medication therapy management, and prescriber profiling. www.rxresults.com
For additional information on RxResults, please contact LG Hanzel at 501.367.8402 or lghanzel@rxresults.com
About Nexus Insurance Mangers:
Nexus Insurance Managers, LLC, was founded and is co-owned by Solon Webb and Kenneth Walker. Nexus Insurance Managers is a risk placement facilitator for health, life and voluntary insurance programs as well as cost containment solutions. With over thirty years of experience, Nexus Insurance Managers evaluates and underwrites programs for self-funded groups. The company strives to “connect” their clients with the best insurance and cost containment solutions for their particular needs.
For additional information on Nexus Insurance Manager, please contact Solon Webb at 443.440.6200 or solon@nexusllc.co or Kenneth Walker at 512.582.8234 or kwalker@nexus-img.com