Business News
New York’s Excellus BlueCross BlueShield to Continue Generic Medication Promotion to Help Control Costs
2008-07-21 07:00:00
New York’s Excellus BlueCross BlueShield to Continue Generic Medication Promotion to Help Control Costs
The Blue Plan Experienced a 15 Percent Increase in Prescription Drug
Costs in 2007, According to a New Report from HealthLeaders-InterStudy
NASHVILLE, Tenn., July 21 /EMWNews/ -- HealthLeaders-InterStudy, a
leading provider of managed care market intelligence, reports that Excellus
BlueCross BlueShield will continue to promote generic medication use
through pharmacy programs and public education efforts. According to the
new report entitled Blue Profiler: New York--Excellus BlueCross BlueShield,
in 2007 the Blue Plan saw prescription drug costs increase 15 percent, with
federal employee prescription costs tripling from 2006 to 2007. To curb
these rising prescription costs, Excellus has utilized proprietary research
along with public relations campaigns to highlight the cost savings of
generic medication use over brand name drugs.
"Generic medication promotion will certainly help Excellus manage its
pharmacy spend moving forward," stated Chris Lewis, market analyst at
HealthLeaders-InterStudy and author of the report. "Excellus has used
research and health trend tracking across its region as one way to
differentiate itself from its competitors. In fact, results from an
Excellus-initiated study demonstrated that switching to generic medications
saved Upstate New Yorkers $227 million in 2007."
The report finds that generic medication use is encouraged through the
Blue Plan's Generic Trial program, which provides patients with a free
30-day supply of medication when the prescription is first filled.
Additionally, the Generic Advantage program requires a member choosing a
brand name over the generic equivalent to pay the generic copay, plus the
difference between the pharmacy's charge for the brand drug and its price
for the generic.
Lewis continued, "Excellus' public education and pharmacy programs have
helped generate a 60 percent generic fill rate across Upstate New York, up
from 53 percent in 2005."
Blue Profiler: New York--Excellus BlueCross BlueShield is one of 15
Blue Profiler reports for 2008 on the nation's largest nonprofit Blue Cross
Blue Shield plans, which together insure more than 50 million people.
About Blue Profiler
Blue Profiler offers the most comprehensive analysis of the nonprofit
Blue Cross Blue Shield plans. Each report focuses on an individual
nonprofit Blue plan and includes valuable analysis that will allow
companies to more effectively partner with these dominant organizations.
Each report includes information on:
-- Competitive analysis
-- Enrollment trends
-- Company-wide financials
-- HMO financials
-- Consumer-driven products
-- Medicare strategy
-- Pharmacy
-- Disease Management
About HealthLeaders-InterStudy
HealthLeaders-InterStudy, a company of Decision Resources, Inc., is the
authoritative source for managed care data and analysis. For more
information, please visit http://www.HealthLeaders-InterStudy.com.
All company, brand, or product names contained in this document may be
trademarks or registered trademarks of their respective holders.
For more information, contact:
Elizabeth Marshall
Decision Resources,
781-296-2563
[email protected]
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