There are many reasons payers are looking for more comprehensive oncology solutions that look at the whole patient journey. The landscape of treatment continues to evolve and expand to offer more individualized care where quality and outcomes are a priority, but the costs of care continue to rise. Did you know overall oncology spend in the U.S. is projected to reach $220 – $250 billion over the next five years?1 When looking specifically at oncology drug spend, which primarily impacts the medical benefit, oncology has remained the highest-spend category for the past decade.2
That’s why the medical oncology experts at Magellan Rx have developed a comprehensive oncology solution that includes leading-edge strategies for managing both medical and pharmacy oncology spend without losing focus on quality.
We combine cost-of-care strategies with a holistic patient care management program to drive value and improve the quality of care for patients. Health plans looking for flexible, customizable solutions that meet the needs of their unique population can count on us to leverage our 16+ years of experience to deliver results.
Our strategies in action
One health plan partnered with us to implement multiple programs that manage rising oncology spend, including:
- Prior authorization
- Post-service claim edits
- Drug wastage
- PD1 weight-based dosing
- Dosing differential
- Oral oncology management
With these new programs in place, patients continued to receive the high quality of care based on their unique situation and healthcare goals. In one year after implementation, the health plan had realized $8.7M in total savings and 16% savings on oncology spend!
Are you looking for an experienced oncology management partner than can help you achieve better results? Connect with us today!
Individual program implementation is dependent on plan size and other factors. These flexible solutions can also operate outside of the traditional payer-PBM relationship. Now, you can plug into the extensive clinical expertise and experience at Magellan Rx by delegating specialty and medical drug management services while retaining a separate pharmacy benefit manager.
1. IQVIA. 30 May 2019. Global Oncology Trend Report 2019. https://www.iqvia.com/insights/the-iqvia-institute/reports/global-oncology-trends-2019. Accessed October 15, 2019.
2. 2020 Magellan Rx Management Medical Pharmacy Trend Report™, 11th Edition, © 2021.