There has been scant news about any big moves by large national specialty pharmacies this year. Today, however, we read about a move by CarelonRx, the specialty pharmacy operated by Elevance Health.
Many of you may be scratching your heads trying to figure out the story behind these entities. We are happy to provide some relief.
In late 2022 Elevance Health acquired long-running BioPlus Specialty Pharmacy as it sought to expand its specialty pharmacy services. (BioPlus was one of the few mature SPs that had not been acquired and taken out of the independent SP column.) More significantly, Elevance is the insurer formerly known as Anthem Health….BioPlus was then integrated into Elevance’s – then branded – PBM, IngenioRx.
We continue to ask….. Why are insurers keen on integrating SPs into their portfolios?
In a word, money….. and leverage (guess that’s two words). A well-run SP with a solid revenue stream is very profitable. Elevance appears poised to supercharge its market presence both ‘digitally’ and geographically which enables greater steerage of plan members into their specialty pharmacy and supercharge profit opportunity. And…… PBMs love leverage over manufacturers. Being able to put large specialty purchases on the table goes a long way in manufacturer negotiations.
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Elevance Health’s CarelonRx rolling out new digital pharmacy
Dec 5, 2023
The CarelonRx Pharmacy launch is one of several steps that the company is taking to improve the experience for members.
Elevance Health’s pharmacy benefit manager is launching a new digital pharmacy that aims to make it easier for members to track their prescriptions.
CarelonRx Pharmacy will launch on Jan. 1, and members will be able to connect with pharmacists via text, chat or phone around the clock. The platform will also allow them to check the price of medications for comparison and track their prescriptions throughout the order process, similar to how a customer may follow a pizza order.
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