The pharmacy benefits manager Express Scripts has signaled its embrace of value-based care with its announced purchase of eviCore.
In an attempt to reign in the rising costs of prescription drugs while ensuring patients receive the right drugs in the correct amount at the optimal time, Express Scripts will buy eviCore—a privately held medical benefits management firm— for $3.6 billion.
EviCore has pioneered an evidence-based approach to pharmacy benefit management. Its Medical Oncology platform uses clinical pathways, based on the most up-to-date evidence-based clinical guidelines, for virtually all cancer types to optimize clinical and financial outcomes by ensuring that clinically appropriate treatment is provided to patients. The platform is available for oncology providers to quickly receive information about coverage determinations for treatments, and it also enables analysis and reporting of clinical data.
EviCore offers benefit management solutions in other high-cost specialty areas as well, including cardiology, radiology, and post-acute care.
"The rising cost of healthcare is one of the most important issues facing Americans today," commented Tim Wentworth, CEO of Express Scripts, in a statement (October 10, 2017). "Together with eviCore, Express Scripts will be an even more powerful partner in managing costs for patients and payers, bringing us closer to our goal of becoming the nation's leading patient benefit manager."
John Arlotta, chairman and CEO of eviCore, further expressed his support of the acquisition. “The greatest opportunity to improve healthcare is by reducing wasteful spend and over-utilization while delivering quality outcomes. Together, eviCore and Express Scripts will be uniquely positioned to tackle these problems.”
The purchase will officially be complete in the fourth quarter of 2017.