Transcarent rolls out pharmacy profit providing for self-insured employers

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Transcarent, a healthcare platform for self-insured employers, introduced Monday it will broaden into the pharmacy profit house.

The brand new providing, referred to as Transcarent Pharmacy Care, will permit members to seek for the lowest-cost drug possibility and examine costs throughout pharmacies. They will additionally switch their prescription inside Transcarent’s app and entry 24/7 assist if wanted.

The corporate stated the objective is to provide employers extra transparency into and management of their formulary and profit design. Transcarent argues the providing can save employers cash through the use of massive pharmacy networks, integrating pharmacy and medical care, passing by rebates to plan sponsors, and eliminating unfold pricing, the place pharmacy profit managers cost extra for a drug than they reimburse to the pharmacy and hold the distinction. 

“There’s by no means been an excellent cause for employers to be unsure in regards to the true price of their most utilized profit providing,” Transcarent COO Snezana Mahon stated in a press release. “The data that may now be out there to employers will allow them to enhance their advantages and the care they supply for his or her folks, cut back prices and empower workers and their households to most successfully handle their prescription drug wants.”

THE LARGER TREND

Excessive drug prices are a long-standing drawback for the U.S. healthcare system. In accordance with a report from the American Society of Well being-System Pharmacists launched this spring, whole drug spending grew 7.7% in 2021 and is anticipated to proceed to rise this yr. 

A survey revealed final month discovered Medicare beneficiaries had been involved in regards to the affect of inflation on healthcare prices, significantly for pharmaceuticals and Half B premiums. The Inflation Discount Act, which was signed into legislation final month, permits Medicare for the primary time to barter drug costs for 10 high-cost medicine, beginning in 2026.

Transcarent emerged from stealth in March 2021, led by Livongo vet Glen Tullman. The startup introduced a $58 million Sequence B increase in June that yr, and a $200 million Sequence C early in 2022. 

It is also been including new choices this yr. In April, the corporate revealed Transcarent Oncology Care, aimed toward serving to members discover most cancers care institutes, oncology suppliers and applicable medical trials. It additionally launched a behavioral well being program earlier this spring that helps sufferers discover in-person or digital remedy.



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