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.

© 2024 MMIT
Leslie Small

Leslie Small

Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

Related Posts

business-meeting
May 23

Plans Take Wait-and-See Approach to Vendors Promising Help with Weight Loss Medication Costs

READ MORE
iv-bag
May 23

Studies: IRA Will Spur Medicare Biosimilar Adoption — and Shift Costs to Part D Plans

READ MORE
rpm
May 23

Remote Physiologic Monitoring Use Among Medicaid Enrollees Skyrocketed From 2019 to 2021

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