Cigna Acquires Express Scripts
The Express Scripts Holding Company (ESHC) is a pharmacy benefit management organization. In 2017, it was the 22nd-largest company in the United States based on total revenue. As of 2016, ESHC was the largest pharmacy benefit management organization in the U.S. The company focuses on the management of pharmacy benefits and formulary services.
Cigna’s acquisition of pharmacy benefit manager Express Scripts
The acquisition of Express Scripts by Cigna could give the insurance giant a competitive advantage in the pharmacy benefit management business. Express Scripts has over 3,000 clients and serves 83 million Americans. It also handles mail orders, patient compliance, distribution, rebates, and claims.
Cigna plans to fund the cash portion of the transaction, while securing fully committed debt financing for the rest of the acquisition. Upon closing, the combined company will have $41.1 billion in debt. However, Cigna plans to lower its debt to capitalization ratio to the low 30’s within 18 to 24 months. The company also plans to retain its investment-grade ratings.
Company’s formulary
Cigna’s subsidiary, Evernorth Health, has acquired Express Scripts, Inc., a pharmacy benefit management company. The company, which also owns Accredo, eviCore, and MDLIVE, fulfilled approximately 410 million pharmacy scripts in the second quarter of 2021, up 13% from the same quarter last year. The growth was driven by the COVID-19 vaccine and organic growth. The Company’s national preferred formulary has saved consumers $23.9 billion in incremental value since 2014.
In order to determine which medications should be included on its formulary, Express Scripts will use a vetted process that involves physicians, pharmacists, and health research experts. In addition, the company will use experts to review clinical outcomes and user experience to ensure that a drug is appropriate for inclusion.
Pharmacy benefit
Express Scripts has a variety of programs that can make your life easier. These programs offer many benefits, including low-cost prescriptions, a free membership to Express Scripts’ network of pharmacies, and convenient home delivery. They also offer 90-day supplies of maintenance medications to help you manage chronic conditions, such as diabetes or high blood pressure. In addition to these programs, Express Scripts also offers a mobile app that can help you manage your health care costs.
The WTC Health Program recently decided to transition its Pharmacy Benefit Manager from Managed Care Advisors to Express Scripts. The two companies are working together to make the transition as seamless as possible. If you are a member with a certified condition, you should receive a notice in the mail to update your information. Express Scripts’ website also has useful FAQs for members about the transition.
Pharmacy network
The RT Oncology Services Corporation, a leading community oncology alliance, has formally launched its expanded pharmacy network with Express Scripts. The partnership allows community oncology practices to fill more prescriptions from oral oncology providers. It also offers the ability to expand into new plans in the future. The network aims to improve patient care by ensuring that patients have access to a wider selection of oncology-related drugs.
Members who are part of the Pharmacy network can fill prescriptions at participating retail pharmacies. To do so, they present their ID card to the pharmacist. The network includes major drug store chains like Walgreens, CVS, Rite Aid, Target, and Walmart.
