NASHVILLE, Tenn., April 2, 2014 (GLOBE NEWSWIRE) -- Artemetrx and Healthcare Bluebook announce the availability of their medical specialty drug pricing comparison tool, ShopSmart™ Specialty. This new offering is the first to focus on pricing transparency for medical specialty drugs and will help plan sponsors and their members save money on specialty drugs covered under the medical benefit. Members can find the best price on their specialty medications across providers, which can include physician offices, outpatient hospitals, home health providers, and more.
"ShopSmart Specialty exposes the highly variable pricing for specialty drugs paid under the medical benefit," says Brenda Motheral, President of Artemetrx. Specialty drugs are significantly more expensive than traditional medications, averaging over $2,000 per prescription. Fifty percent or more of specialty drugs are covered under the medical benefit, where drug pricing exhibits considerable variation – as much as 10-fold, or more - depending on where a patient receives care. For one commonly used specialty drug, Remicade, the allowed amount can range from $3,200 to $28,000 per month.
"Healthcare Bluebook is committed to helping plan sponsors manage the double-digit growth in specialty drug costs," says Jeffrey Rice, MD, CEO of Healthcare Bluebook. Artemetrx and Healthcare Bluebook estimate that most employers can save as much as 13% on their medical specialty drug spend through improved consumerism. Since specialty medications tend to be chronic medications, the employer (plan sponsor) pays the bulk of the cost as the member exceeds their deductible and out-of-pocket maximums very quickly. Equally important, members with high deductible plans and other out-of-pocket costs can realize substantial savings on their specialty medications while still within their deductible.
About Artemetrx Specialty Drug Solutions
Artemetrx Specialty Drug Solutions provide analytics and cost management solutions that help plan sponsors manage their specialty drug spend covered under the medical benefit. Artemetrx clients include large employer, Taft-Hartley funds, hospital systems, third-party administrators, and health plans. Learn more at www.artemetrx.com.
About Healthcare Bluebook
Healthcare Bluebook is a health care price transparency company that is dedicated to helping people better manage their healthcare by providing them with the knowledge and tools they need to shop for and receive a Fair Price for health care services. The company works with employers, health plans, third-party administrators, on-site health clinics, accountable care organizations, and consultants to help reduce the cost of health care. For more information, visit www.healthcarebluebook.com.