HARRISBURG, Pa., Jan. 24, 2020 /PRNewswire/ -- Capital BlueCross today announced a new initiative with the BlueCross BlueShield Association (BCBSA) and other Blue plans around the country to reduce the cost of expensive generic medications for individuals and families.
The Blue plans are collectively contributing $55 million to establish a subsidiary within the nonprofit company Civica Rx to acquire and develop Abbreviated New Drug Applications (ANDAs) for select generic drugs.
"Capital BlueCross is continually looking for meaningful and innovative strategies that tackle healthcare affordability and accessibility," said Capital BlueCross President and CEO Gary D. St. Hilaire. "Everyone should have access to quality healthcare and affordable prescription drugs, no matter who they are or where they live, and this new partnership is one way to ensure the needs of the individual come first and that the savings are passed along to them."
A 2019 report by the U.S. Food and Drug Administration cited drug shortages as a persistent problem, despite public and private sector efforts to prevent and mitigate them. According to the report, drug shortages can worsen health outcomes by causing treatment delays or changes in treatment regimens.
This partnership will advance the mission to make quality generic medications affordable by:
Ensuring patients and their needs come first, and that cost savings are passed along to consumers
Promoting greater competition
Including all interested pharmacies, health plans, employers, retailers, wholesalers and other innovators who share our passion for affordable, quality medications
Initial generic medications are expected to be available by 2022, with hundreds of millions in savings anticipated.
Capital BlueCross' involvement in the partnership strongly aligns with its longstanding goals of reducing medical costs, improving the quality of healthcare, and delivering a best-in-class member experience.
As champions of healthcare affordability, the Blue plans continue to drive solutions that will increase access and improve health for their members and all Americans.
About Capital BlueCross For more than 80 years, Capital BlueCross has served Central Pennsylvania and the Lehigh Valley by offering health insurance products, services and technology solutions that provide peace of mind to consumers and promote health and wellness for our members. We deliver innovative solutions through a family of diversified businesses to create healthier futures and lower healthcare costs. Additionally, our Capital Blue health and wellness centers provide in-person service and inspiration to help people reach their health goals. In 2019, Capital BlueCross was named Best in Member Satisfaction Among Commercial Health Plans in Pennsylvania by J.D. Power, and has scored higher than all health insurance providers publicly measured in the American Customer Satisfaction Index (ACSI) for five consecutive years (2014-2018). Capital BlueCross is an independent licensee of the BlueCross BlueShield Association. For more information, visit capbluecross.com. We also encourage you to connect with us on Facebook, check out our videos on YouTube and follow us on Twitter.