Express Scripts, A Subsidiary Of The Cigna Group, Introduces New Option To Give Clients Maximum Simplicity In Drug Pricing
Portfolio Pulse from Benzinga Newsdesk
Express Scripts, a subsidiary of The Cigna Group (NYSE:CI), has introduced Express Scripts ClearNetworkSM, a new pharmacy network option offering simple, cost-plus pricing for medications. This model uses industry benchmarks to estimate drug costs, adding a flat fee for dispensing and a maximum 15% service fee. It will be available in early 2024 to over 65,000 retail pharmacies in the network. The initiative aims to simplify prescription drug pricing and highlight the role of drug manufacturers in high costs, while building on Express Scripts' commitment to transparency and affordability.
November 14, 2023 | 1:15 pm
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POSITIVE IMPACT
The Cigna Group's subsidiary, Express Scripts, has announced a new transparent pricing model for pharmacy benefits, which may enhance the company's competitive edge in the PBM sector and potentially attract new clients seeking simplicity and transparency in drug pricing.
The introduction of Express Scripts ClearNetworkSM is likely to be viewed positively by the market as it addresses the demand for transparent drug pricing. This could lead to increased client satisfaction and retention, and potentially attract new clients. The impact is scored as positive due to the potential for market differentiation and the emphasis on transparency, which is a growing concern in healthcare. The relevance is high as Express Scripts is a subsidiary of Cigna, and the importance is significant given the potential implications for Cigna's revenues and market share in the PBM industry. The confidence level is set at 85, reflecting a strong belief in the positive impact based on the information provided, though market response and competitor actions remain variables.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80