Blues-Funded Startup Aims to Boost Value-Based Drug Pacts

In a move that signals Blue Cross Blue Shield plans are getting increasingly serious about driving down the cost of prescription drugs, five major Blues affiliates on June 22 launched a startup company that aims to “offer innovative medication solutions to patients, providers and customers.”

Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark Inc. and Independence Blue Cross are all providing “significant funding” to support the launch of Evio, which they characterize as an “independent pharmacy solutions startup.”

In its press release, Evio says one of its three chief goals is to continue “the evolution toward value-based care and enhancing outcomes-based contracting in the pharmacy space, especially on high-cost drugs.” Industry experts tell AIS Health, a division of MMIT, that Evio’s mission of furthering value-based pricing agreements for prescription drugs is perhaps the most promising, as such payment models aren’t currently doing enough to bend the cost curve.

© 2021 MMIT

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

https://www.mmitnetwork.com/wp-content/uploads/2021/09/Drug_Benefits_Life_Sciences.jpg
November 23

Will ‘Build Back Better’ Spell Disaster for Pharma Innovation?

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured-Image-health-plan-weekly-Wall-Street-Isnt-Sweating-Cignas-Third-Quarter-MLR-Miss.jpg
November 23

Big Three PBMs’ 3Q Results Make Up for Insurer Disappointments

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured_AdobeStock_442155384.jpg
November 23

SCAN Health Opts to Invest in Medication Adherence Tool

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today