CIGNA Receives Pharmacy Benefit Management Institute Innovation Award
* Awarded for launching the first pharmacy outcomes-based contract
* Strength of demonstrated results was key
BLOOMFIELD, Conn., - CIGNA’s (NYSE: CI) outcomes-based approach to pharmacy contracting was recognized with an award for innovation in the drug benefit industry by the Pharmacy Benefit Management Institute (PBMI). The award was presented today at PBMI’s 16th Annual Drug Benefit Conference in Phoenix. CIGNA was selected as one of this year’s award recipients based on the program’s overall originality, strength of reported results and potential to improve medical outcomes.
“Our 2011 award recipients have demonstrated creative thinking by designing solutions to address numerous challenges in prescription drug programs,” said Tim Watson, PharmD, MBA, executive director of PBMI. “Their example will inspire other plan sponsors to implement one or more of these approaches in their own populations.”
In 2009, CIGNA Pharmacy Management and Merck entered into the pharmacy benefit management (PBM) industry’s first national outcomes-based contract between a PBM and a pharmaceutical company. The contract was designed to improve medication adherence and improve blood sugar levels for CIGNA customers who have type 2 diabetes.
A year after the contract was implemented, results showed that there was improved blood sugar control and blood sugar testing during the contract period. According to a study published in the June 2005 edition of Medical Care, quality of life improves dramatically and estimated savings for individuals and employers could be up to $8,000 per person who has diabetes when medication adherence is between 80 and 100 percent. Medication adherence was 87 percent for the CIGNA-Merck outcomes based contract.
“CIGNA is pleased to be recognized for our efforts to focus our work and that of the health care system as a whole on improving people’s health,” said C. Daniel Haron, president, CIGNA Pharmacy Management. “Though this award is specific to the pharmacy benefits management industry, we would also like to recognize Merck. Without their willingness to be the first pharmaceutical company to pilot an outcomes-based contract, this recognition would not have been possible.”
CIGNA (NYSE: CI) is a global health service and financial company dedicated to helping people improve their health, well-being and sense of security. CIGNA Corporation’s operating subsidiaries in the United States provide an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, as well as group life, accident and disability insurance. CIGNA offers products and services in over 27 countries and jurisdictions and has approximately 65 million customer relationships throughout the world. All products and services are provided exclusively by such operating subsidiaries and not by CIGNA Corporation. To learn more about CIGNA, visit www.cigna.com.
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