MedImpact’s First-of-Its-Kind Solution Integrates Prescription Coverage With Third-Party Discount Programs to Reduce Drug Costs for Both Plans and Members
SAN DIEGO, CA – OCTOBER 24, 2024 – MedImpact Healthcare Systems, Inc., the nation’s largest independent provider of health solutions, technology, and pharmacy benefit services, announced today that in the first half of 2024, its innovative MedImpactSaveTM program saved consumers on average $18.88 per prescription, while reducing drug spend for healthcare payers.
“Drawing on our advanced technology, industry partnerships, and our team’s relentless drive to innovate, we are pleased to deliver these extraordinary results,” said Zach Johnson, MedImpact Chief Innovation Officer. “In a healthcare system where cost shifting is sadly the norm, this solution reduces drug costs for both plans and members.”
When a member fills a prescription for a medication covered by his or her plan, MedImpact’s technology compares the member’s out-of-pocket cost to more than a dozen third-party discount programs. The member then pays the lowest price, which is applied to his or her deductible, even when the claim is not paid by the plan.
Although members receive the lion’s share of the savings, MedImpactSave also reduces plan costs. In fact, when a claim adjudicates using a third-party discount program, the plan incurs no cost at all. In the first half of 2024, approximately 5.7 percent of on-formulary claims were paid this way, offering MedImpact clients the opportunity to save millions of dollars in drug spend.
Although the savings varied by drug and plan design, in many instances savings by members far exceeded the $18.88 average. During the first half of the year, patients taking Teriflunomide for multiple sclerosis saved $2,516 per fill, and those taking Mesalamine for ulcerative colitis saved $629.
In addition to reducing the cost of healthcare, MedImpactSave is convenient. The member does not need to present a separate card, check any websites or apps, file a claim, or communicate anything to the pharmacy staff—it is completely transparent.
“At MedImpact, we’re using our enterprise technology solutions to provide members and plans greater savings and a better experience, and we’re doing it beyond just pharmacy,” said Johnson. “We will continue to leverage our unique position in the market to deliver a broad and innovative portfolio of health solutions.”
