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Health insurer Anthem is establishing a new pharmacy benefits manager called IngenioRx in partnership with CVS Health.
Anthem has signed a five-year agreement with CVS Health, for services beginning Jan. 1, 2020. IngenioRx will combine its member and provider engagement initiatives with CVS’ expertise in point-of-sale engagement, such as member messaging and Minute Clinic. CVS will also provide prescription fulfillment and claims processing services.
IngenioRx will serve both Anthem affiliated health plans, as well as non-Anthem customers, and begin offering a full suite of PBM solutions starting in 2020. Anthem's current pharmacy benefit management (PBM) contract ends at the end of 2019.
"As a company, we continuously seek bold, innovative solutions that achieve consumer access to high quality, affordable healthcare," said Joseph Swedish, chairman, president and chief executive officer, Anthem. "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 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."
Brian Griffin, executive vice president, commercial and specialty division, who oversees Anthem’s pharmacy business, commented: "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. In partnership with CVS, transitioning members seamlessly to our new solution will remain Anthem’s top priority."
Anthem, IngenioRx, Partnership, CVS Health, Joseph Swedish, Brian Griffin, US