BCBS companies form medication contracting group to target high specialty drug costs

Several Blue Cross Blue Shield companies have formed a medication contracting organization, Synergie Medication Collective, aimed at reducing high specialty drug costs. 

According to a Jan. 5 press release, the company is focused on reducing costs for medical benefit drugs, which are administered in clinical settings rather than retail pharmacies. The contracting organization will serve BCBS plans and some other independent payers. 

Jarrod Henshaw, who previously served as chief innovation officer and supply chain officer at Prime Therapeutics, will be Synergie's CEO. Kim Keck, CEO of the Blue Cross Blue Shield Association, will chair the company's board. 

In addition to the BCBSA, investors in the venture include Elevance Health (owns 14 BCBS affiliates), Evio Pharmacy Solutions, Prime Therapeutics and multiple independent Blue Cross Blue Shield companies: BCBS Arizona, Arkansas, South Carolina, Vermont, Idaho, Kansas City, CareFirst BCBS (Maryland, Virginia), Premera BCBS (Washington, Alaska), and Wellmark BCBS (Iowa, South Dakota).

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