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Magellan Healthcare has released an updated clinical monograph titled Appropriate Use of Psychotropic Drugs in Children and Adolescents. This resource aims to address the increasing mental health crisis among youth by providing evidence-based guidelines on psychotropic drug use. Key highlights include the need for improved behavioral health collaboration, non-pharmacologic interventions, and active family participation in treatment. The revision offers insights into effective treatment for various mental disorders found in children, emphasizing a data-driven approach for informed decision-making.
Magellan Health, Inc. announced that its pharmacy benefit management division, Magellan Rx Management, achieved a perfect audit score from the Centers for Medicare & Medicaid Services (CMS) for its Granite Alliance Insurance Company Employer Group Waiver Plan. Conducted in September 2021, the audit evaluated program areas like Compliance Program Effectiveness and Coverage Determinations, yielding zero invalid data submissions and no corrective actions required. CEO Mostafa Kamal praised the team for this significant achievement, reinforcing their commitment to supporting Medicare beneficiaries.
Magellan Healthcare has introduced its innovative Sleep Health solution, aiming to improve the diagnosis of obstructive sleep apnea (OSA) among payers. With over 25 million Americans affected by OSA, and a significant portion undiagnosed, this solution utilizes advanced clinical intake algorithms to ensure the right tests are provided at the right time. It promotes cost-effective home sleep tests over expensive hospital options, addressing a market demand that significantly impacts both health and economic factors, including an annual $30 billion healthcare cost due to undiagnosed cases.
Magellan Health has appointed Dr. Caroline Carney as president of behavioral health for Magellan Healthcare, while she maintains her role as chief medical officer. This leadership change aims to enhance the company’s behavioral health capabilities and member experience through integrated care solutions. Dr. Carney, who joined Magellan in 2016, has a strong background in managing complex populations and has contributed significantly to clinical innovations in the field. CEO Ken Fasola expressed confidence in Dr. Carney's visionary approach to leadership.
Centene Corporation (CNC) and Magellan Health (MGLN) have received all regulatory approvals necessary for Centene's acquisition of Magellan. The closing is expected on or about January 4, 2022. This acquisition will enable Centene to enhance its whole-health solutions, addressing both physical and mental health needs, aimed at improving health outcomes and reducing costs for high-cost populations. CEO Michael Neidorff expressed optimism about the expanded services and increased access to behavioral health care for communities in need.
Magellan Health, Inc. (NASDAQ: MGLN) will launch a new Digital Emotional Wellbeing program on January 1, 2022, designed to assist members in managing emotional concerns through the NeuroFlow platform. The program offers personalized resources, including videos, articles, and cognitive behavioral therapy programs. NeuroFlow data shows 80% completion of initial assessments and significant symptom reduction among users. Magellan aims to provide seamless access to behavioral health resources, enhancing members' mental health awareness and resilience.
Magellan Health (NASDAQ: MGLN) has launched a program to connect older adults with care coordination and companionship, addressing social determinants of health like isolation and healthcare access. In collaboration with DUOS, the program aims to enhance behavioral health offerings by providing personalized support. A pilot in Northampton County has reported a 97% success rate for service requests, enabling members to maintain independence at home. This initiative reflects Magellan's commitment to holistic healthcare solutions for aging populations.
Magellan Health (NASDAQ: MGLN) has announced the launch of a free 24-hour crisis line for individuals affected by recent tornadoes in Kentucky and other southern and midwestern states. The toll-free number is 1-800-327-7451, providing confidential consultation services to help individuals cope with emotional distress related to natural disasters. Additional resources, including trauma recovery tips, are available on Magellan's website and Ready.gov, emphasizing the firm's commitment to supporting communities during crises.
Magellan Health, Inc. (NASDAQ: MGLN) has launched a free 24-hour crisis line for residents of Hawai’i affected by recent flooding. This toll-free line (1-800-327-7451) provides confidential consultation services to assist individuals dealing with emotional distress from natural disasters. The company aims to support the community through feelings of fear and hopelessness, offering additional resources for recovery available on their website. Magellan is recognized for its expertise in managing behavioral health services across the country.
Magellan Health, Inc. (NASDAQ: MGLN) has published its sixth annual Medicaid Pharmacy Trend Report, presenting key insights into the evolving Medicaid pharmacy landscape. Notably, specialty drugs accounted for 51.4% of net costs despite only 1.3% usage. The report indicates a positive trend for traditional drug costs in Medicaid for the first time in five years, driven by new market drugs. Future projections suggest increased spending for most key conditions due to a steady drug pipeline, while technology-based solutions are emphasized for continuity of care.
