Prime Therapeutics recognized at PBMI for award-winning solutions, leaders

At Pharmacy Benefit Management Institute (PBMI) annual conference, Prime received two awards: one for cost savings, another for leadership

EAGAN, Minn., Sept. 6, 2024 /PRNewswire/ -- Prime Therapeutics LLC/Magellan Rx Management, LLC (Prime/Magellan Rx) is honored to be awarded for leadership and cost savings at the Pharmacy Benefit Management Institute (PBMI)'s Annual National Conference this week in Orlando, Florida. Its IntegratedRx^® program received an Excellence Award in cost containment, and employee Prerak Parikh, PharmD, was recognized with a 2024 Emerging Leaders in Healthcare Award.

PBMI Excellence Award

At the event, Prime/Magellan Rx was recognized with an Excellence Award in cost containment for its IntegratedRx program — a solution that reimagines the cancer and cystic fibrosis care journey, helping patients receive medicines through a specialty pharmacy where the provider and pharmacist are a coordinated team. "We created IntegratedRx because, unlike other PBMs, we focus on what is best for the patient and we don't have to think about having medications filled from our own pharmacy," says Marci Conlin, vice president of pharmacy network management. "We're able to ask, 'What's the best pharmacy for you?'"

Using a medically integrated dispensing model, IntegratedRx can reduce pharmacy costs, improve patient satisfaction and decrease total cost of care. IntegratedRx has a 95% member satisfaction rate and a Net Promoter Score^® of 80 compared to 81% overall satisfaction with central fill, according to Prime/Magellan Rx internal data from 2023.

Prime/Magellan Rx previously won a 2021 PBMI Excellence Award in the cost containment category for its High-Value Pharmacist Managed Care pilots, which leveraged the carve-in pharmacy benefit manager alignment within the health plan and integrated medical and pharmacy claims from Prime's industry-leading data and analytics tool. In 2018, our Controlled Substance Management Program was recognized in the Opioid Management Strategies category. The program uses a comprehensive approach to identify individuals who are at risk of controlled substance misuse and encourages them to pursue programs to help reduce their risk.

Emerging Leaders in Healthcare Award

Also at the event, Managed Healthcare Executive recognized Prerak Parikh, PharmD, director of specialty clinical solutions, as among 14 national 2024 Emerging Leaders in Healthcare Award recipients. Parikh was recently featured on the cover of the August 2024 issue of the publication and was interviewed about his work.

This annual award recognizes health care leaders who are "paving the way for the future of their organizations, for [health care] and for others seeking to make a difference in the industry," according to Managed Healthcare Executive.

"I am honored to be among the innovative, forward-thinking individuals recognized with this award," Parikh says. "I am grateful for the opportunity to work in medical pharmacy management and shape clinical strategy for our health plan clients to strive to provide the same care we would want for our loved ones." 

As one of the youngest members of the team, Parikh demonstrates leadership through strategic thinking in an evolving health care landscape, fostering collaboration and driving results.

About Prime Therapeutics + Magellan Rx Management
Prime Therapeutics LLC (Prime) is a diversified pharmacy solutions organization serving health plans, employers and government programs. Magellan Rx Management LLC, a Prime Therapeutics LLC Company, is a pioneer in specialty and medical drug management and a leader in serving public sector state government programs. Together Prime and Magellan Rx provide a wide range of clients with solutions that bridge the distance between medical and pharmacy management. For more information visit primetherapeutics.com and magellanrx.com or follow us on X (Twitter) at @Prime_PBM and @Magellan_Rx.

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SOURCE Prime Therapeutics LLC