The agreement is the first to apply value-based contracts to cover Medicaid patients in the United States.
SAN JUAN, Puerto Rico -- Abarca Health, a pharmacy benefit management (PBM) and technology company that serves more than two million lives across the nation has signed a value-based reimbursement contract with Biogen (BIIB) for select products in Biogen's leading multiple sclerosis (MS) portfolio. This first-of-its-kind agreement between the companies offers an innovative approach to connecting outcomes with the effective net cost of the products. The deal places accountability on Biogen to deliver safety, efficacy, and value for the patients who receive these life-impacting therapies and for the payers who finance them.
"We are excited to partner with Biogen in implementing this innovative, data-driven, and outcomes-based pricing program for MS drug therapies. We believe this program is a significant milestone in our efforts to collaborate with pharmaceutical manufacturers to find a better way to guide patients and payers down the path to value, especially in high-impact disease categories," stated Jason Borschow, Chief Executive Officer of Abarca Health.
This contract builds on Abarca Health's ongoing work with Biogen to find better ways to collaborate in treating patients afflicted with complex, high-cost conditions.
"We believe that contracting approaches like this will help expand patient access. We are excited to work with an innovative partner like Abarca Health and lead the way for MS care," said Jean-Paul Kress, Executive Vice President and President, International, and Head of Global Therapeutic Operations of Biogen.
Outcomes-based contracting is an integral part of the future of healthcare. By partnering with manufacturers such as Biogen, Abarca Health is ensuring greater accountability around the investments made by payers and patients in high-cost treatments, leading to better access and outcomes for patients.
About ABARCA HEALTH
As a pharmacy benefit management and technology company, Abarca Health serves more than 2 million people across the nation, helping its clients manage over $1 billion per year in pharmaceutical spending. The company leverages its people, culture, and technology to develop deep partnerships with health plans, government programs, self-insuring employer/union groups, and other payers - authentic and flexible partnerships. By building trust with and delivering consistently for its customers, Abarca can better work together to create a healthcare experience that cares for us like family, guides us on the path to value, and inspires us to live better every day.
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