Magellan Rx Management Launches New Predictive Analytic Capabilities with MRx Predict
Magellan Rx Management, the full-service pharmacy benefits management division of Magellan Health, Inc. (NASDAQ:MGLN), announced the launch of MRx Predict, a new advanced analytics capability that proactively identifies patients at-risk of experiencing adverse events, and forecasts future drug cost drivers for customers.
As drug costs continue to rise and create challenges for payers, there is a need for a proactive approach to managing trend and spend while maximizing the quality of healthcare for patients. MRx Predict offers two forward-looking solutions designed to manage drug spend and improve patient outcomes.
- Drug Cost Forecasting provides macro predictions on drug spend and trend, and the factors driving those future trends. This capability allows customers to better plan for future drug expenditures, and identify top therapeutic conditions and drugs, including pipeline products, driving these costs.
- At-Risk Patient Identification proactively identifies and stratifies individual patients based on the probability of being non-adherent to chronic medications, such as those for diabetes, high blood pressure, and high cholesterol, along with specialty conditions such as HIV/AIDS. It also recognizes patients that are at-risk for misusing their opioid therapies. This helps improve patient outcomes by optimizing our delivery of targeted clinical programs to those patients most at-risk for adverse outcomes.
“MRx Predict identifies areas of opportunity for our customers to improve the clinical outcomes of their patients and effectively plan for future drug expenditures,” said Karim Prasla, vice president of clinical outcomes, advanced analytics, and research for Magellan Rx Management. “This capability provides our customers with key insights, leveraging the latest analytics technology and domain expertise to generate powerful results.”
To learn more about Magellan MRx Predict, view our webinar here.
Magellan Rx Management is a full-service, next generation PBM with a value-driven approach that moves past the traditional volume-focused thinking to deliver meaningful solutions. Magellan Rx Management services expand beyond traditional core services to help their customers and members solve complex pharmacy challenges by connecting them to the people, technology and information they need to make smarter healthcare decisions. As pioneers in managing specialty spend both on the prescription and medical benefit, Magellan Rx Management is effectively-positioned to continue delivering thought-leading solutions in this complex and rapidly growing area of healthcare to help people live healthier lives.
About Magellan Health: Magellan Health, Inc., a Fortune 500 company, is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.
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