Catamaran reports lower overall trend, record-setting generic dispensing rate and greater cost controls
SCHAUMBURG, IL, April 16, 2014 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX) (TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology, released its 2014 Informed Trends™ report this morning. The report reveals a decrease in overall drug trend, from 2.6 percent (2012) to 2.4 percent (2013), a record-setting generic dispensing rate of 83.6 percent and progressive cost controls for Catamaran clients. The report also shows a negative 0.7 percent traditional trend driven by the adoption of generics for blockbuster drugs such as Singular® and Lipitor®.
"At Catamaran, we are enabling people to take charge of their health through our ability to leverage data and technology in new and innovative ways. This has allowed us to drive high levels of engagement and better outcomes for all stakeholders," said Mark Thierer, Chief Executive Officer at Catamaran. "We view each unique touch point as a moment of opportunity to make a difference - The Catamaran Difference."
Specialty trend, led by increased utilization for multiple sclerosis and other auto-immune diseases, was offset by a decrease in utilization for hepatitis C drugs as patients awaited new drug approvals, resulting in 14.3 percent overall trend. Specialty is expected to represent nearly a quarter of Catamaran's total drug volume by 2016. To manage this high-cost market segment, Catamaran's specialty pharmacy, BriovaRx™, takes a holistic approach to patient care offering hands-on, individualized support to patients.
"Our top performing clients in 2013 were our most highly managed, maximizing outcomes through our clinical programs across all market segments," said Sumit Dutta, M.D., MBA, Senior Vice President and Chief Medical Officer at Catamaran. "We are delivering smarter solutions, enabling critical connections and pioneering innovative interventions to empower our clients and members to maximize their healthcare dollar."
Moments of Opportunity, the theme of the report, showcases how Catamaran harnesses every opportunity to make a difference through personalized interventions and tailored solutions for clients and members. The trend report breaks down Catamaran's clinical approach of engaging nationally, locally and personally to create compelling results.
The full report, Moments of Opportunity, is available for download. High level insights can be found on the Catamaran trend portal and the company is also offering a webcast for a deeper understanding of the key takeaways on Tuesday, April 22, 2014, at 12:30pm Eastern time. To register, click here.
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 350 million prescriptions each year on behalf of over 32 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 Schaumburg, 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.