Cigna Pharmacy Management® received the Excellence Award for Cost Containment from the Pharmacy Benefit Management Institute (PBMI). The award signifies our efforts to change the reimbursement model with drug manufacturers from volume to value through the use of outcomes-based contracts.
Beyond competitive price negotiations, outcomes-based contracts align financial terms to measured improvements in a customers’ health. If the medicine doesn’t help to the degree anticipated, the cost is reduced.
Cigna currently has outcomes based contracts in place for disease like diabetes, multiple sclerosis, hepatitis C, chronic heart failure and high cholesterol. While the contracts are for specific drugs, a significant benefit is that Cigna’s integrated claims data analysis can also set the bar on expected outcomes for other drugs in the class.
We have been paving the way with these types of contracts since 2009* so we are thrilled to be recognized for this award. To learn more about the PBMI award please see the press release.
*“Cigna-Merck Outcomes Contract Hailed as ‘First Step’...” AISHealth. Atlantic Information Services, Inc., 17 Dec. 2010. Web. 25 Oct. 2016.