Optum Rx to Modernize Pharmacy Payment Models
Rising prices set by pharmaceutical companies are causing pharmacies across
Effective immediately and with full implementation by
With this change, Optum Rx is addressing a legacy, industry-wide model that was originally designed to help promote the use of affordable generics. Effective generic adoption is now quite strong, and increasingly, more high-cost branded drugs are entering the market, raising costs for pharmacies. Addressing this imbalance will provide pharmacies with better financial means to stock more medicines, which will alleviate drug shortages, improve access to medications and deliver a better experience for consumers.
“Pharmacies and pharmacists provide important care to patients, and we recognize that increasing drug prices make it hard for them to afford needed medicines, especially independent and community pharmacies,” said
"Our pharmacists are critical partners in care and often the most consistent health care provider for the patients and communities they serve,” said
In parallel, Optum Rx will similarly transition client arrangements - such as employer and health plan customers - to ensure transparency and greater alignment to drug costs. We have already started implementing these changes, with the goal of completing full implementation by
These changes build on our recent commitment to pass through 100% of drug rebate discounts negotiated with pharmaceutical manufacturers to clients by
Supporting Pharmacies Across the
Optum Rx has been working to ensure pharmacies are paid fairly and offering solutions to improve operational efficiency and reduce administrative burden so they can spend more time caring for patients. Some of these efforts include:
- Reimbursing pharmacists for connecting their underserved patients to services that address basic needs such as food, nutrition, transportation, housing and baby supplies. Key areas of focus include maternal wellness and meeting health care needs in urban and rural communities where there are not many pharmacies.
- Supporting independent pharmacists by paying them for services such as counseling and medication management aimed at improving patient outcomes.
- Enhancing pharmacy digital capabilities to easily access claims and payment data, ease administrative burdens and manage revenue.
- Removing retroactive recoupment (“clawbacks”) for pharmacies.
- Offering predictive analytics and other tools to further reduce administrative burden and allow more time to focus on patient care.
About Optum
Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 210,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of
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Media Contact: newsroom@optum.com
Source: Optum