Prime to manage pharmacy benefits for Blue Cross & Blue Shield of Rhode Island

Prime Therapeutics announced last week that it will start the management of pharmacy benefits for Blue Cross & Blue Shield of Rhode Island (BCBSRI) beginning on Jan 1, 2017.

The agreement is a five-year deal and will include more than 300,000 commercial, individual market and Medicare BCBSRI members.

When speaking of the deal, BCBSRI President and CEO, Peter Audruszkiewicz, said the proposal offered by Prime was strong and included reasonable pricing, an excellent operational record, and indicated the firm's dedication to serving BCBSRI members while improving customer health.

Prime is currently serving more than 26 million members through Blue Cross & Blue Shield Plans, employer groups and government programs. Prime, which is owned by 13 Blue Cross & Blue Shield Plans, has the primary goal of providing support on health plan essentials with a specific focus on innovative models that will maintain access and lower costs.

Prime has seen its membership grow by 30 percent since the beginning of 2012. The addition of Blue Cross & Blue Shield Plans, earning new lines of business from current clients, and gradual Blue Plan growth has spurred membership to increase.