Applying an Integrated Approach to Improve Health and Reduce Drug Costs
One of the biggest challenges for Anthem and our consumers is the rising costs of prescription drugs. Drug spend is the fastest growing area of healthcare costs—and that trend is predicted to continue over the next decade. Focusing on pharmacy costs alone versus the overall health of consumers addresses just one component of rising costs. That is why, in late 2017, Anthem announced the launch of its own pharmacy benefits manager (PBM) to help lead the industry forward by bringing to the market a holistic, integrated approach that leverages both medical and pharmacy data to reduce drug costs, identify gaps in care and improve medication adherence and outcomes.
"With a total view of pharmacy and medical drug spend, we can prevent unnecessary utilization, and give care providers a more complete picture of their patients' health, thus enabling more informed care," says Brian Griffin, Executive Vice President and CEO of Anthem's PBM. "Through an integrated approach using data analytics, we will break down silos and connect information together to know what provides high-quality care, not just more affordable care. We'll also be able to help our customers by identifying and sharing opportunities to impact their health and provide them with a simplified experience."
The PBM, which will become fully operational in 2020, will leverage Anthem's already existing integrated pharmacy and medical approach, improve affordability, and achieve greater than $4 billion annually in gross savings.
"We are excited about the opportunity to not only lead the industry, but also to make a difference for our customers by zeroing in on the right member, right drug, right time, right setting, right duration, right dosage, and right benefit," Brian says.
In 2017, Anthem's CareMore Health introduced the Togetherness Program, a first-of-its-kind approach to tackling loneliness, a condition that impacts the health of seniors and affects more than 40 percent of those over 65. The program is one example of Anthem's leadership in delivering benefits and better care to serve the needs of a growing and often vulnerable population.
Watch the Video