Abarca Details First Value-Based Agreement For Medicaid Members Prescribed Biogen Products
Abarca, a pharmacy benefit manager, announced a value-based agreement with Biogen (NASDAQ: BIIB) for drugs Avonex® and Tecfidera®, aimed at improving outcomes for Medicaid patients in Puerto Rico. This collaboration, initiated in 2017, represents the first publicly disclosed value-based agreement for Medicaid populations. Abarca's president emphasized that such contracts are vital for future pharmacy benefits, and Biogen's president expressed commitment to connecting real-world outcomes with therapy costs.
- The agreement aims to lower costs for payers and enhance healthcare quality.
- This partnership reflects a significant innovation in Medicaid pharmacy benefit management.
- None.
SAN JUAN, Puerto Rico, Oct. 20, 2020 /PRNewswire/ -- Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with a new approach to technology and business practices released a new case study detailing a value-based agreement with Biogen Inc. (NASDAQ: BIIB) for Avonex® (interferon beta-1a) and Tecfidera® (dimethyl fumarate), select products in the drug maker's leading multiple sclerosis (MS) portfolio. Originally launched in 2017, this was the first publicly disclosed value-based agreement to serve Medicaid populations.
"At Abarca, we believe that value-based contracts will play an important part in the future of pharmacy benefits," said Jason Borschow, president and CEO of Abarca. "For nearly three years, we have worked closely with Biogen to deliver a better experience and alleviate the financial strain for our Medicaid clients, but this is just the beginning."
This contract involves the Medicaid Program Agency in Puerto Rico. Value-based agreements, like that with Biogen, can lower costs for payers, offer pharmaceutical companies valuable feedback about their therapies, and, ultimately, have the potential to reduce the cost and improve the quality of healthcare.
"Value-based agreements further support our commitment to people living with MS by connecting real-world patient choice and outcomes to the cost of the therapy. We are proud to partner with Abarca to help ensure their members receive effective and safe therapies," said Alisha Alaimo, President of Biogen's U.S. organization.
This partnership with Abarca is just one of the initiatives that Biogen has launched for patients with MS. Biogen also offers extensive support services for MS patients, including apps and websites with resources and educational materials, as well as one-on-one programs to help ensure patient safety.
To learn more about the results of Abarca and Biogen's value-based contract, read the case study, or visit abarcahealth.com.
About Abarca
Abarca is igniting a revolution in healthcare. It started by redefining pharmacy benefits, but this is just the beginning. It is built on the belief that there is a better way for people and companies to work together, connect with each other, and make healthcare awesome for everyone. With smarter technology and a straightforward approach to business, Abarca provides a much better experience and higher value for payers and consumers. For nearly a decade, they have challenged many industry conventions and trampled on a few. So, call them a PBM for discussion purposes, but they are unlike any other company out there. Join the revolution at abarcahealth.com.
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SOURCE Abarca
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