Pharmaceutical Strategies Group Launches First-in-Class Technology Solution For Healthcare Payers
DALLAS – Pharmaceutical Strategies Group (“PSG”), an EPIC company, announces the release of the latest solution on its proprietary Artemetrx® integrated data platform, Artemetrx GeneCQ™.
“Pharmacy and underwriting teams require more intelligent and precise ways to anticipate the financial exposure to gene therapies. As first-to-world therapies, traditional models are often inadequate and GeneCQ is a robust solution to help solve those challenges.”
GeneCQ utilizes sophisticated algorithms to analyze clinical, demographic, diagnosis, and medication use data to identify the level of risk for individual members within specific populations. Utilizing Artemetrx’s extensive market insights and billions of claims records, the solution provides real-world analysis of the timing of uptake and patient characteristics. Spending within the U.S. on cell, gene, and RNA-based therapies is expected to more than triple over the next four years, rising to anywhere between $13 billion and $22 billion. GeneCQ will support healthcare payers as they prepare for the forecasted growth with data-driven insights to predict exposure to high-cost gene therapies more accurately.
“We continuously enhance the Artemetrx platform to meet the emerging needs of our clients, and this latest evolution is one we believe is transformative to the market,” stated Rebekah Gregg, Chief Operating Officer of PSG. “Pharmacy and underwriting teams require more intelligent and precise ways to anticipate the financial exposure to gene therapies. As first-to-world therapies, traditional models are often inadequate and GeneCQ is a robust solution to help solve those challenges.”
GeneCQ utilizes medical and pharmacy claims data from clients and analyzes that data against proprietary clinical and actuarial algorithms to provide detailed outputs of exposure by therapy and disease, with quantification of the financial risk. The technology is delivered through the Artemetrx web-based, SaaS platform. The solution encompasses multiple features, including:
- Exposure by Therapy, LOB, ASO Group, Member
- Stop-Loss Modeler
- Longitudinal Member Profiles
“Our health plan clients are well aware of the impending growth within gene therapies, and I’m pleased that we are offering a solution to help them manage the financial risk that is customized to their unique populations,” said Beth Hebert-Silvia, RPh, Senior Vice President and Health Plans Practice Leader at PSG. “With the ability to more precisely quantify their risks and identify members with a high likelihood of receiving gene therapies, health plans will be empowered with the data needed to maximize care management and react to financial adjustments.”
About Pharmaceutical Strategies Group (PSG)
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG is an independent consultant, empowering healthcare payers to manage their pharmacy program better. As a strategic partner, PSG helps clients by providing industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year. www.psgconsults.com.
About Artemetrx®
Artemetrx is a proprietary SaaS platform developed by Pharmaceutical Strategies Group, an EPIC company. As a revolutionary technology solution integrating pharmacy and medical claims data for specialty drug cost management, Artemetrx provides market-leading specialty drug insights to payers. It delivers unparalleled intelligence and line-of-sight into serious challenges perpetuating out-of-control drug costs and compromised patient outcomes. PSG’s innovative drug management solutions, including Artemetrx, deliver actionable insights with exceptional financial and clinical value. PSG is a strategic partner through industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year. https://www.psgconsults.com/solutions/data-analytics
