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You face it every day: rising healthcare costs and mounting pressures to contain them.
It's a complex struggle but it can be overcome with the right information and the correct set of tools.
Artemetrx is a healthcare analytics and solutions company that uses data to develop and implement blueprints for
healthy cost savings. Artemetrx integrates and analyzes disparate data sets that relate to health and
productivity so that organizations have ongoing and up-to-date access to healthcare utilization,
outcome and expenditure metrics. Our unique web-based application, cost containment analysis, ongoing
claims surveillance, and customized intervention programs provide you with a cost-effective, turnkey
solution that can assist your organization in meeting the challenges of the rising costs of healthcare benefits.
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Artemetrx Announces Release of Specialty Drug Medical Solutions
Specialty Medical Solutions from Artemetrx Help Lower Specialty Drugs Costs
Brentwood, Tennessee; February 18, 2013 --- Artemetrx, a healthcare analytics and solutions company, today announced the release of its Specialty Medical Solutions for specialty drugs covered under the medical benefit. The solution suite is designed for employers, labor groups, and health plans who want to reduce their specialty drug costs while maintaining high quality care.
The ARTEMETRX Specialty Medical Solution is a comprehensive program for uncovering and controlling specialty drug costs hidden under the medical benefit. A foundation of the offering is proprietary analytics to extract the high-cost specialty drug and administration spend from the claims data, including HCPCS code and revenue code-based billing.
"Our experience shows that plan sponsors can save 30% or more on their medical specialty drug spend through more active management", says Brenda Motheral, PhD, President of Artemetrx. "Plan sponsors are looking for solutions that are not tied to specialty pharmacy distribution, which is unique to our offering and allows us to provide objective guidance on the optimal site of care, lowest net cost strategy, and clinical program implementation."
Key program components for capturing savings include: 1) ongoing assessment of financial performance (discounts, fees, and rebates) against pricing benchmarks for each channel, 2) identification and transition of patients to more cost-effective sites of care, 3) contracting for medical specialty rebates, and 4) clinical management to address inappropriate use and optimize dosing.
"Currently, fifty percent or more of the specialty spend typically resides under the medical benefit, yet most plan sponsors cannot track, let alone manage, the specialty medical spend," says Corey Belken, PharmD, Vice President at Artemetrx. "Our research shows that specialty drug spend will surpass traditional spend in the next five years, making it critical that plan sponsors have a comprehensive view and management solution for their specialty drugs.
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