BLUE CROSS BLUE SHIELD COMPANIES FORM SYNERGIE MEDICATION COLLECTIVE, A NEW VENTURE TO RADICALLY IMPROVE AFFORDABILITY AND ACCESS TO COSTLY MEDICATIONS FOR MILLIONS OF AMERICANS
NEW YORK, Jan. 5, 2023 /PRNewswire/ -- Announced today, Synergie Medication Collective is a new medication contracting organization founded by a group of Blue Cross and Blue Shield affiliated companies to serve both Blues and select independent health plans. Synergie is focused on improving affordability and access to costly medical benefit drugs — ones that are injected or infused by a health care professional in a clinical setting — for nearly 100 million Americans. These high-cost treatments include multi-million-dollar gene therapies and infusible cancer drugs and represent a substantial portion of overall drug spend, with significant growth in future spend anticipated.
Synergie aims to significantly reduce medical benefit drug costs by establishing a more efficient contracting model based upon its collective reach and engagement with pharmaceutical manufacturers and other industry stakeholders. With a core philosophy that prioritizes partnership and transparency, Synergie aims to play a key role in ensuring affordable access to treatment for millions of people.
Jarrod Henshaw has been named Synergie’s chief executive officer. Mr. Henshaw has over 20 years of experience working in the pharmaceutical supply chain in various senior leadership roles across the pharmacy industry and private equity. Blue Cross Blue Shield Association president and CEO Kim Keck will serve as Synergie’s initial board chair.
“I have long believed that a different, more transparent approach to the relationships between industry stakeholders is necessary to create truly affordable and accessible medications for all patients who need them,” said Henshaw. “Synergie, with its industry reach and visionary purpose, was created to do just that. I am privileged to be part of this transformative venture.”
Synergie will operate as an independent business, creating additional value and efficiency for its founders and customers. The following organizations are founding investors in Synergie:
- Blue Cross Blue Shield Association
- Elevance Health
- Evio Pharmacy Solutions (founded by Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark Inc. and Independence Blue Cross)
- Prime Therapeutics (including Magellan Rx Management as part of Prime)
- Independent health plans serving members in communities across the country: Blue Cross Blue Shield of Arizona, Arkansas Blue Cross Blue Shield, CareFirst BlueCross BlueShield, Blue Cross of Idaho, Blue Cross Blue Shield of Kansas City, Premera Blue Cross, Blue Cross Blue Shield of South Carolina, Blue Cross Blue Shield of Vermont and Wellmark Blue Cross Blue Shield.
“The costs of medications continue to rise and are unsustainable, especially when it comes to medicines that treat rare and complex diseases,” said Kim Keck, BCBSA president and CEO. “We’re proud to help launch Synergie to tackle medication affordability and access. We believe there is a better way to do business — and this first-of-its-kind approach will have a positive impact for millions of people across the United States.”
Synergie Medication Collective will go to market in January of 2023.
About Synergie Medication Collective
Synergie is a new, fully transparent organization aimed at radically improving affordability and access to effective medications for nearly 100 million Americans. Synergie delivers enhanced solutions within the medical benefit drug supply chain, utilizing a transparent business model in collaboration with industry stakeholders. Synergie is an independent entity owned by the Blue Cross Blue Shield Association, Elevance Health, Evio Pharmacy Solutions (founded by Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark Inc., and Independence Blue Cross), Prime Therapeutics (including Magellan Rx Management as part of Prime), Blue Cross Blue Shield of Arizona, Arkansas Blue Cross Blue Shield, CareFirst BlueCross BlueShield, Blue Cross of Idaho, Blue Cross Blue Shield of Kansas City, Premera Blue Cross, Blue Cross Blue Shield of South Carolina, Blue Cross Blue Shield of Vermont and Wellmark Blue Cross Blue Shield. For more information, please visit www.synergiecollective.com.
About Blue Cross Blue Shield Association
The Blue Cross and Blue Shield Association is a national federation of 34 independent, community-based and locally operated Blue Cross and Blue Shield companies.
About Elevance Health
Elevance Health is a lifetime, trusted health partner fueled by its purpose to improve the health of humanity. The company supports consumers, families, and communities across the entire care journey – connecting them to the care, support, and resources they need to lead healthier lives. Elevance Health’s companies offer a diverse portfolio of industry-leading medical, digital, pharmacy, behavioral, clinical, and complex care solutions.
About Evio Pharmacy Solutions
Evio is an independent pharmacy solutions company that works with health plans to transform the medication experience for everyone: patients, providers, employers, health plans and the system at large. Using real-world evidence, Evio will ensure every patient receives the right medication for their unique situation, in a simple and affordable way. Based in Denver, CO, Evio was founded by Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark Inc., and Independence Blue Cross.
About Prime Therapeutics and Magellan Rx
Prime Therapeutics LLC (Prime) is a diversified pharmacy solutions organization serving health plans, employers and government programs. Prime is collectively owned by 19 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Magellan Rx Management, a Prime Therapeutics LLC Company, is a pioneer in specialty and medical drug management and a leader in serving public sector state government programs. Together Prime and Magellan Rx provide a wide range of clients with solutions that bridge the distance between medical and pharmacy management.
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SOURCE Synergie Medication Collective