PALM SPRINGS, Calif., March 7, 2018 /PRNewswire/ -- Abarca today announced that it was awarded the Pharmacy Benefit
"We are thrilled to award Abarca for the dramatic improvements it helped achieve in medication therapy management and comprehensive medical reviews (CMR)," says Jane Lutz, Executive Director of PBMI. "Abarca's work gives the industry a roadmap for how to significantly improve outcomes and the quality and value of drug benefits."
The award was based on Abarca's work on behalf of a Medicare Part D health plan based in Puerto Rico. Abarca implemented an integrated technical and clinical solution for the plan that included:
This approach enabled the Medicare Part D health plan to achieve an 84% CMR completion rate, a 47% improvement in a little more than a year. CMR completion rates are an important metric CMS uses in awarding Stars for MTM programs.
"We knew that tweaking the MTM model PBMs have been using for years wasn't going to yield meaningful improvements. It takes a carefully synchronized combination of the right data and expert clinical interventions," said Jason Borschow, Abarca's Chief Executive Officer. "We also had the advantage of a platform that we designed from the ground up to provide the right information, and a world class team of clinicians."
The MTM program is just one example of how, for more than a decade, Abarca has rejected traditional PBM technology and thinking. This has included launching a smarter technology platform, built from scratch to be more powerful, flexible, and user friendly; intensely focusing on providing clients and members with a better experience; and operating at a higher standard – of reliability, openness, urgency, and accountability.
"It's an honor to be recognized for excellence by PBMI," continued Borschow. "But what drives us is making a difference in the health and lives of members, and we couldn't be happier in what we achieved with this program."
To read the full case study, click here.
Abarca is igniting a revolution in healthcare. It started by redefining pharmacy benefits, but this is just the beginning. It is built on the belief that there is a better way for people and companies to work together, connect with each other and spread healthy living across the planet. With smarter technology and a straightforward approach to business, Abarca provides a much better experience and greater value for payers and consumers. For nearly a decade, they have challenged many industry conventions and trampled on a few. So, call them a PBM for discussion purposes, but they are unlike any other company out there. Join the revolution at abarcahealth.com.
The Pharmacy Benefit Management Institute is dedicated to unraveling the complexities of pharmacy benefit management by providing research, continuing education, and Web resources that help organizations work effectively with their pharmacy benefit managers to improve the overall management of drug benefit programs. Learn more at www.pbmi.com.
View original content:http://www.prnewswire.com/news-releases/abarca-receives-pbmi-excellence-award-for-quality-improvement-strategies-300609969.html
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