Magnolia Health Implements RxAdvance's Transformative Pharmacy Benefit Management Model
JACKSON, Miss., Jan. 22, 2019 /PRNewswire/ -- Magnolia Health, a leading provider of healthcare coverage in Mississippi and wholly-owned subsidiary of Centene Corporation (NYSE: CNC), completed the implementation of a transformative pharmacy benefit management model using RxAdvance's Collaborative PBM Cloud™ platform, covering 240,000 Mississippi Medicaid members. This partnership will reduce administrative costs and has the potential to improve health outcomes and reduce avoidable medical costs.
"Mississippi represents one of the greatest and often overlooked opportunities in our nation for healthcare innovation," said Aaron Sisk, President & CEO of Magnolia Health Plan. "We are pleased to have the opportunity to leverage RxAdvance's innovative technology and business model, which will help our members, physicians and pharmacists improve outcomes, while giving the State transparency into cost and quality measures."
In March of 2018, Centene and RxAdvance announced a transformative partnership to create a next-generation pharmacy management solution, leveraging Envolve Pharmacy Solutions' clinical competencies and RxAdvance's innovative platform & business model to provide industry-leading pharmacy benefit management for its members.
"We at Envolve are pleased to have the opportunity to leverage our complementary strengths to implement the Collaborative PBM Cloud for Magnolia Health," said Don Howard, CEO of Envolve Pharmacy Solutions. "This new business model, focused on transparency, will be a game-changer, and we look forward to partnering with RxAdvance to bring this model to all the Centene State Medicaid Plans we serve."
About Magnolia Health
Magnolia Health is a long-term solution to help the state of Mississippi enhance care for Medicaid and Children's Health Insurance Program (CHIP) recipients, while most effectively managing taxpayer dollars. A physician-driven, Mississippi-based Coordinated Care Organization (CCO), Magnolia is backed by its parent company, Centene Corporation (Centene). Centene has more than 30 years of experience in Medicaid, CHIP and other government-funded programs such as Supplemental Security Income (SSI) and long-term care. For more information about Magnolia, visit www.magnoliahealthplan.com.
About Envolve Pharmacy Solutions
Envolve Pharmacy Solutions provides total drug management that includes integrated pharmacy benefits management, specialty pharmacy and medication delivery services. Envolve Pharmacy Solutions manages pharmacy and medical benefits, cost and drug trend, all under a flexible program designed for plan sponsors and their members, with full clinical, operational and financial visibility. For more information, visit www.envolverx.com.
RxAdvance is a national full-service pharmacy benefit manager that leverages Collaborative PBM Cloud™ platform to deliver integrated PBM services that reduce overall pharmacy costs, optimize specialty spend by converting from "buy and bill" to "authorize and manage", and reduce avoidable drug-impacted medical costs while improving patient's quality of life with unmatched regulatory compliance and transparency. In addition, RxAdvance offers a global pharmacy risk partnership model standing shoulder-to-shoulder with plan sponsors. Our tailored, world-class services are for all plan sponsors — health plans, accountable care organizations (ACOs), exchanges, state Medicaid programs, and employer groups. We provide contractually guaranteed savings in administrative costs, ingredient unit costs, and rebate revenues. For more information, visit www.rxadvance.com.