{"id":3387,"date":"2021-12-28T09:34:26","date_gmt":"2021-12-28T09:34:26","guid":{"rendered":"https:\/\/distilinfo.com\/healthplan\/?p=3387"},"modified":"2022-01-20T08:53:44","modified_gmt":"2022-01-20T08:53:44","slug":"rite-aid-eyes-profit-boost-after-pack-with-prime-therapeutics","status":"publish","type":"post","link":"https:\/\/distilinfo.com\/healthplan\/rite-aid-eyes-profit-boost-after-pack-with-prime-therapeutics\/","title":{"rendered":"Rite Aid eyes profit boost after pack with Prime Therapeutics"},"content":{"rendered":"\n

Rite Aid has signed a “rebate aggregation agreement” with Prime Therapeutics, a Blue Cross Blue Shield-owned pharmacy benefits management, in an effort to boost profit margins and industry competitiveness.<\/p>\n\n\n\n

DistilInfo HIGH FIVE<\/h2>\n\n\n\n

1. The agreement:<\/h3>\n\n\n\n

The agreement relies on Prime Therapeutics, which is owned by 19 Blue Cross Blue Shield Plans, to help manage rebates, but may also be the first step to a closer relationship between the entities.<\/p>\n\n\n\n

2. \u00a0\u00a0Discussions:<\/h3>\n\n\n\n

“The CEO of Prime and I have discussed this to further partner in some very interesting ways, which I can’t get into now,\u201d Rite Aid CEO Heyward Donigan said during an earnings call.The move comes as Rite Aid looks to charter an “omnichannel” expansion past its 17-state footprint, according to Forbes.<\/p>\n\n\n\n

3. \u00a0Plans:<\/h3>\n\n\n\n

Rite Aid earlier this week announced plans to close more than 60 stores and signed a \u201crebate aggregation\u201d agreement between the drugstore chain\u2019s Elixir PBM and Prime Therapeutics \u201cto drive increased value for all of Elixir\u2019s PBM clients.\u201d The store closures and the arrangement with the larger Prime PBM is part of an effort to improve operations.<\/p>\n\n\n\n

Read More: Bright Health now has over 1 Million enrollments!<\/a><\/p>\n\n\n\n

4. \u00a0Digital ground:<\/h3>\n\n\n\n

\u201cWe are going after the digital, retail PBM, specialty and mail order pharmacy markets that will allow us also to expand beyond our 17-state footprint to be a national provider of pharmacy in an omnichannel way, not in a brick-and-mortar way,\u201d Rite Aid chief executive officer Heyward Donigan told analysts Tuesday during the company\u2019s quarterly earnings call.<\/p>\n\n\n\n

5. \u00a0Potential ways:<\/h3>\n\n\n\n

Though Donigan wouldn\u2019t disclose potential ways Prime and Rite Aid or its Elixir PBM will work together, such discussions come during a period of new relationships between owners of drugstore chains and health insurance companies and PBMs.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Rite Aid has signed a “rebate aggregation agreement” with Prime Therapeutics, a Blue Cross Blue Shield-owned pharmacy benefits management, in… Continue Reading <\/i><\/a><\/p>\n","protected":false},"author":8,"featured_media":3323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-distilinfo-originals","8":"entry"},"_links":{"self":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/3387"}],"collection":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/comments?post=3387"}],"version-history":[{"count":2,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/3387\/revisions"}],"predecessor-version":[{"id":3563,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/3387\/revisions\/3563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media\/3323"}],"wp:attachment":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media?parent=3387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/categories?post=3387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/tags?post=3387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}