Health benefits company Anthem announced Wednesday (Oct. 18) it is launching a new pharmacy benefits manager (PBM) called IngenioRx.
In a company press release, Anthem said 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 with Express Scripts.
“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 of Anthem, in the news release. “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[ed] 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.”
In addition to announcing IngenioRx, the company said it inked a five-year agreement with drugstore operator CVS Health starting on Jan. 1, 2020. IngenioRX will combine its member initiative and pricing with CVS’ point of sale engagement, including its Minute Clinics. 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 of Anthem’s commercial and specialty division, and oversees Anthem’s pharmacy business, in the same press release. “In partnership with CVS, transitioning members seamlessly to our new solution will remain Anthem’s top priority.”