At Magellan Rx Management, we know health plans and employers. With Magellan Rx, customers can feel assured of their members’ satisfaction as we work hard to limit member disruption, focus on optimum savings, and provide unparalleled formulary management strategies. We are eager to roll up our sleeves and lean into the complex formulary challenges impacting commercial health plans and employer groups.
MRx National P&T Committee
We have separate committees responsible for the clinical versus the financial analyses. Our drug review process is thorough and compliant with URAC, NCQA, and CMS standards.
Our clinical committee provides expertise on pharmaceutical products based on a rigorous drug evaluation process that involves a review of FDA-approved labeling, peer-reviewed literature, and treatment guidelines.
Our financial committee considers the value of drugs through an evaluation of cost effectiveness, market share, and drug utilization trends among clinically similar medications.
Our committees continually monitor the pharmaceutical landscape to manage formularies that ensure our members will have access to clinically appropriate medications while providing our customers with optimal financial value and savings. Our formulary strategies quickly target many of the current market challenges.
- Standard: Our Standard Formulary identifies and promotes the most clinically appropriate and cost-effective products in a given therapeutic class. It covers most FDA-approved drugs.
- Precision & Precision Plus: Our Precision Formularies leverage exclusion strategies to promote lower-cost alternatives in select drug categories while still maintaining robust drug coverage for members.
Search for covered drugs
We’ve made it simple to view our drug lists from anywhere, with our easy-to-use formulary drug lookup tool.
What formulary management solutions are available?
We provide our customers with a variety of innovative solutions and have experts who understand the most granular aspects across all these solutions. We understand the value of technology and constantly explore ways in which technology and automation can be leveraged within formulary management to deliver more complex solutions, faster.
What we offer:
We offer end-to-end prior authorization services, which include criteria creations and case reviews.
Our team of experts manage complex adjudication needs using next-generation technology that serves as our one source of truth. For any custom clients that want more control, we can provide self-service features.
Any formulary changes and enhancements will be communicated to the member and all parties involved in the members’ care in a timely manner.
Innovative Formulary Programs
To combat current market challenges, we have created multiple formulary programs that can be layered on top of our current formulary offerings to provide additional control depending on our clients’ needs.
Want to learn more?
Connect with us today to learn more about our formulary management strategies and how we can help you manage costs associated with rising drug spend.