Prime Therapeutics President and CEO Eric Elliott Cites Urgent Need for "True Integration" of PBMs, Plans at 2012 PCMA Managed Markets Educational Forum

FORT LAUDERDALE, Fla., Feb. 8, 2012 /PRNewswire/ -- Attendees at the 2012 Pharmaceutical Care Management Association (PCMA)'s Managed Markets Educational Forum yesterday heard Prime Therapeutics President and CEO Eric Elliott speak about the dynamic changes facing pharmaceutical companies and pharmacy benefit managers entering the post-reform health care space, including the high increase in the number of chronically ill, soaring costs from the rapid rise of specialty medications and the rising importance of clinically integrated care. Prime Therapeutics is a pharmacy benefit management (PBM) company dedicated to providing innovative, clinically-based, cost-effective pharmacy solutions for clients and members.

"Never has truly integrated care been more important," Elliott told attendees. "Not just integrated delivery of care in the form of sophisticated mail systems and not just integrated claims, but truly integrated care where the physician, the care system and the pharmacy provider see what is happening with the patient and have the right information at the right time to make the best decision for the patient's optimal outcome."

In his keynote address, "A New Day for Health Plan-PBM Integration," Elliott spoke about the cornerstone of health care reform — managing for the best health outcomes and coordinating care among physicians, allied providers and pharmacies. The newest challenge, and one that has not yet been addressed, is the surge in the number of chronically ill patients coupled with high costs from the increase of specialty medication.

"It's not just the cost spike of specialty medicines — the proverbial $1,500 injection that can now cost 25 times that — that causes us concern, although that is a focal point," Elliott said. "It's also that many of these patients have multiple conditions and may be seeing multiple specialists within a system. It's critical that all the different specialists and providers see what is happening with the patient's health, in real time."

Delivered to an audience of pharmaceutical manufacturers and other experts within the industry, Elliott's speech was one of the meeting's keynote addresses. Prime was also represented by Chief Clinical Officer David Lassen, who spoke about "Optimizing Pharmacy Management as a Component of Total Cost of Care" and Prime's Senior Vice President of Cost of Care Peter Wickersham, who discussed "Specialty Drug Pricing's Role in Future Pharmaceutical Cost Trends."

The second annual Managed Markets Educational Forum brings together leaders in the pharmaceutical and pharmacy benefits industries to discuss essential PBM, specialty pharmacy and payer issues and opportunities.

Prime Therapeutics is a pharmacy benefit management company dedicated to providing innovative, clinically-based, cost-effective pharmacy solutions for clients and members. Providing pharmacy benefit services nationwide to nearly 20 million* covered lives, its client base includes Blue Cross and Blue Shield Plans, employer and union groups, and third-party administrators. Headquartered in St. Paul, Minnesota, Prime Therapeutics is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those Plans. Learn more at www.primetherapeutics.com.

*Effective 4/1/12

SOURCE Prime Therapeutics

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