Implementing the Latest Pharmacy Benefit Manager (PBM) Technology with RxAdvance
Innovations & Initiatives, Business
With a commitment to transform the health of the community, Centene utilizes cutting-edge technology to analyze crucial healthcare data and turn it into meaningful results for our members. Our recent partnership with RxAdvance is one example of how continued investments in new technology have significantly enhanced our ability to scale, coordinate, and deliver the best quality of care.
Our pharmacies, providers, and health plans use technology to better serve our members and improve health outcomes. By harnessing data analytics and machine learning, we are able to improve clinical outcomes through the delivery of preventive services and chronic disease management. Implementing the latest technology allows our clinical teams to deliver targeted and effective health interventions supported by research and data.
Technology is also making substantial enhancements to the prescription drug side of member care. Centene's investment and partnership with RxAdvance helps doctors identify potential alternative choices for our members. Centene has also introduced the pharmacy benefit manager's (PBM) cloud-based platform, beginning with its health plan in Mississippi, Magnolia Health. All plans expect to use the platform by the end of 2020.
"We've made this important technology investment to support a shift toward a more transparent pharmacy benefit management model, one that is sustainable with higher quality and lower costs for consumers," said Centene Chairman, President, and CEO Michael Neidorff. "RxAdvance's transparency, disruptive technology, and unique approach to partnership will help us further improve quality health outcomes for our members and other customers, while managing healthcare costs."
By integrating pharmacy, medical, and lab data, the customizable platform enables real-time engagement by physicians, pharmacists, and consumers. It further supports Centene's commitment to addressing the "whole health" of an individual. RxAdvance's model fosters compliance and reduces touch points in the prescription process, automating aspects of claims processing. It can also be used to optimize prescription drug spending, a growing concern for members, providers, and legislators in recent years.
Partnering with innovators like RxAdvance furthers Centene's leadership position in healthcare. We will continue investing in technology and programs to roll out the best products, services, and solutions for the benefit of our members, our providers, and our partners.