CarelonRx launches SpecialtyRx Savings Navigator to Enhance Affordability, Management of Specialty Medications
Today, CarelonRx announced the launch of SpecialtyRx Savings Navigator, a comprehensive approach to specialty medication savings across pharmacy and medical benefits. This solution aims to help employers plan for the specialty spend of tomorrow, while providing advocacy and care to their employees who utilize specialty medications today.
Using advanced analytics, CarelonRx's SpecialtyRx Savings Navigator will identify members whose health is at the greatest risk. Once identified, this sparks a thorough review of a member's clinical diagnoses, medications, whole-health integrated support, and a review of their site of care options. Members will then experience proactive pharmacist-led outreach to address any barriers to care, and to further coordinate integrated care with their whole health team, including medical and behavioral health professionals.
Specialty medications, which treat complex illnesses, will represent 43 percent of global medicine spending by 2027, according to IQVIA.
For employers, SpecialtyRx Savings Navigator provides disease-specific forecasts to help plan for future drug spend projections and budgeting, recommendations for optimized plan design, benefit and product solutions, as well as customized member support to reduce costs and optimize spend through medical rebate sharing.
"SpecialtyRx Savings Navigator will allow our members to focus solely on their health while we manage the logistics of securing them affordable, convenient, connected care," said Michele Paige, Vice President of Product and Digital Strategy at CarelonRx. "It will also give employers the peace of mind in knowing their employees who are battling complex and chronic conditions are receiving personalized support, and it will give employers better insights into how best to budget for future specialty spend for their business."
SpecialtyRx Savings Navigator is one of several ways the company is supporting members who are living with complex illnesses and expanding its footprint in specialty pharmacy:
- Elevance Health recently acquired Paragon Healthcare, Inc., a company specializing in infusible and injectable therapies.
- The company also intends to acquire Kroger Specialty Pharmacy in 2024.
- Elevance Health acquired BioPlus, a company that provides a complete range of specialty pharmacy services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases, and rheumatology.
- In 2024, CarelonRx will complete its operational scale by opening three additional BioPlus Specialty Pharmacy dispensing centers in Chandler, Arizona; Indianapolis, Indiana; and Raleigh/Durham, North Carolina; as well as four non-dispensing pharmacies in Las Vegas, Nevada; Denver, Colorado; St. Louis, Missouri; and Indianapolis, Indiana. These additional pharmacy sites reflect CarelonRx's expansion to support specialty pharmacy delivery and medication management for its customers.
The SpecialtyRx Savings Navigator product is now available to integrated Administrative Services Only (ASO) clients.
About CarelonRx
CarelonRx is a Carelon company, part of the Elevance Health family of healthcare services brands. CarelonRx puts the benefits back into pharmacy to improve the health of our members and the healthcare system. We work to remove barriers, personalize experiences, and improve health outcomes, no matter where our members are in their healthcare journey. For more information, visit our website or follow CarelonRx on LinkedIn.
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