More ways to drive transparency and affordability in pharmacy benefits
In addition to new payment models, Optum Rx continues to promote choice and competition to help make historically expensive biologic drugs more affordable. We were first in market to announce a plan to cover biosimilars for Humira. Offering biosimilars as an option gives patients and their doctors the ability to make decisions based on each individual’s needs, while ensuring access to a broader set of effective therapies and lowering costs to payers.
Beyond offering greater choice in pharmacy benefit services for clients, Optum Rx is also empowering consumers to seek out more affordable medications. Earlier this year, we launched Price Edge, a consumer-friendly solution enabling members to check drug prices in real time. Price Edge seamlessly compares available direct-to-consumer pricing for traditional generic drugs with insurance pricing. Use of Price Edge helps ensure Optum Rx members always get the lowest available prescription drug price — on or off benefit and applied to their deductible. Since the January launch, just over 1 million members have enrolled, resulting in more than $4 million in savings on their medications.
These new offerings build on the Optum Rx history of bringing innovation to our clients and consumers to help improve affordability and transparency in pharmacy benefits.