N.C. Blue Cross to drop Medco for Blues-owned drug services
Blue Cross Blue Shield of North Carolina (BCBSNC) will likely drop Medco Health Solutions for a different pharmacy benefits manager (PBM) owned by various nonprofit Blue Cross plans and their affiliates.
North Carolina's largest insurer is looking to lower costs and offer more flexible services and programs, according to the Wall Street Journal. Blue Cross is one of Medco's top customers, paying the PBM company $1.7 billion since 2005 to process its customer drug claims. During that time, Medco increased its costs to Blue Cross by 95 percent, reports the Sun News.
Blue Cross is now negotiating a new pharmacy benefits contract with Prime Therapeutics that would make the insurer part owner of the company, which serves 17 million customers nationwide, according to WRAL.
"Being more hands-on with our PBM will help us lower costs and provide better service to our customers," says Blue Cross President and CEO Brad Wilson. "We also will be able to work with other nonprofit Blues on (accepted drug lists), improved information and communications to customers and programs that integrate pharmacy and disease management programs to improve health."
The deal is subject to successfully completing current negotiations and getting regulatory approval, the WSJ notes. There's no word on when it would become effective.
To learn more:
- read the Wall Street Journal article
- see the WRAL story
- check out the Sun News piece
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