Prime Therapeutics to provide pharmacy benefits management to Blue Cross & Blue Shield of Rhode Island
Five-year contract adds 300,000 members to Blue Cross and Blue Shield-owned PBM
ST. PAUL, Minn., March 8, 2016 /PRNewswire/ -- Prime Therapeutics LLC (Prime) announced today that it will begin managing pharmacy benefits for Blue Cross & Blue Shield of Rhode Island (BCBSRI) effective Jan. 1, 2017. The five-year agreement includes approximately 300,000 BCBSRI commercial, individual market and Medicare members.
"Prime offered us a strong proposal featuring competitive pricing, proven record of operational excellence and a commitment to serving the needs of our customers and improve our member's health," said BCBSRI President and CEO Peter Andruszkiewicz.
Prime serves nearly 26 million members through nonprofit Blue Cross and Blue Shield Plans, employer groups, and government programs. Owned by 13 Blue Plans, Prime is focused on supporting health plan needs, with a particular emphasis on innovative models for maintaining access and lowering costs.
"We know better than anyone out there how to work with Blue Plans and serve their members," said Jim DuCharme, Prime president and CEO. "Rather than impose a national, one-size-fits-all model on our clients, we tailor our pharmacy benefits solutions to deliver local innovation and fit the specific needs of health plans and their members."
Prime's membership has expanded 30 percent since 2012. Growth has been driven by the addition of Blue Cross and Blue Shield Plans, earning new lines of business from existing clients and Blue Plan organic growth.
About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves nearly 26 million people. It is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized as one of the fastest-growing private companies in the nation.
For more information, visit www.primetherapeutics.com or follow @Prime_PBM on Twitter.
About Blue Cross & Blue Shield of Rhode Island
Blue Cross & Blue Shield of Rhode Island is the state's leading health insurer and covers more than 450,000 members. The company is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit www.bcbsri.com, follow us on Twitter @BCBSRI, and like us on Facebook at fb.com/bcbsri.
Contact: Arlys Stadum (612)777-5930
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/prime-therapeutics-to-provide-pharmacy-benefits-management-to-blue-cross--blue-shield-of-rhode-island-300231306.html
SOURCE Prime Therapeutics LLC