Catamaran Corporation Reduces Overall Drug Trend to 2.6 Percent in 2012
Record-setting generic dispensing rate, clinical strategy reduced drug trend for members and clients year-over-year
LISLE, IL, June 12, 2013 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX) (TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology, recently released its 2012 Informed Trends™ report, revealing a 0.9 percentage point year-over-year reduction in overall drug trend from 3.5 percent (2011) to 2.6 percent (2012). Catamaran's record-setting generic dispensing rate of 81.9 percent - a 5 percentage point increase over 2011 - contributed to a 1.2 percent decrease in traditional drug spend.
The report, Healthcare HD - The Power of High Definition, also found that highly managed clients - those that utilize Catamaran's full scope of clinical, communications and channel-management programs - experienced a 1 percent drug trend compared to 2.6 percent for the commercial book-of-business.
"The availability of new generic medications coupled with Catamaran's customized programs and personalized interventions generated cost savings for clients across all segments," said Mark Thierer, Chairman and CEO of Catamaran. "While we are always focused on maximizing value for clients' and members' healthcare dollars, Catamaran is moving beyond price of medications, channel and distribution to focus on the power of data and insights to improve the quality of care, creating healthier communities across the nation."
Specialty medications accounted for approximately 20 percent of the overall U.S. drug market by volume in 2012. To manage this high-cost market segment expected to increase to 23 percent of total global volume by 2018, Catamaran launched its specialty brand BriovaRx™ last year, delivering savings to clients and hands-on, individualized care to patients.
"An increase in chronic and complex diseases points to the need to encourage preventive health measures," said Sumit Dutta, Senior Vice President and Chief Medical Officer at Catamaran. "Catamaran's personalized approach engages at-risk members at the right time with the right intervention driving better healthcare decisions and financial outcomes."
Healthcare HD - The Power of High Definition, the theme of the report, highlights Catamaran's clinical approach of driving national strategies, shaped for local differences and personalized for individual patients. National best practices combined with Catamaran's expertise in technology and analytics form the foundation for Catamaran's clinical programs. Regional presence, local partnerships and flexible technology create connections in the communities Catamaran serves and enable it to customize programs to meet specific client needs. Individual risk scores and tailored messaging and interventions engage members to take charge of their health. Catamaran employs all three levels as a proven model to lower pharmacy trend and produce the best outcomes.
The full report: Informed Trends: Healthcare HD is available for download. Additionally, new for this year, Catamaran released its 2012 drug trend information through an infographic portal that allows visitors to engage with the content in visual ways.
Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 250 million prescriptions each year on behalf of 25 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing one in every five prescription claims in the U.S., Catamaran's skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in Lisle, Ill. with multiple locations in the U.S. and Canada. For more information, please visit CatamaranRx.com, and for industry news and information follow Catamaran on Twitter, @CatamaranCorp.