Pharmaceutical Strategies Group, which is backed by Blue Wolf Capital Partners, has closed its acquisition of Artemetrx Health Resources. Terms of the transaction were not disclosed. Artemetrx develops data analytic tools and clinical programs that integrate pharmacy, medical, and other healthcare information.
Pharmaceutical Strategies Group, LLC (“PSG”), America’s largest independent pharmacy benefits consulting firm, has closed on its acquisition of Artemetrx Health Resources, the company announced today. Terms of the transaction were not disclosed.
Artemetrx, whose technology was originally developed at the University of Kentucky, offers data analytic tools and clinical programs that integrate pharmacy, medical, and other healthcare information. “PSG’s clients have increasingly indicated their desire to have a more comprehensive view of patients’ clinical profiles in managing the prescription drug benefit. It is increasingly difficult to get a clear picture of why a medication is being used and to capture the total cost of care by just reviewing prescription claims data alone. This need is particularly acute for specialty medications, where 50% or more of the drug spend is not billed as a prescription, but as a medical claim,” said Dave Borden, CEO of PSG.
Joining PSG will be the senior management team of Artemetrx led by Dr. Brenda Motheral, Artemetrx’s President, and Dr. John Langefeld, Chief Medical Officer. Dr. Motheral brings with her more than 15 years of experience in healthcare analytics and clinical program development, both in the pharmacy benefits management (“PBM”) and disease management industry. Dr. Langefeld has served the health care industry for over 30 years in executive and hands-on medical care roles.
Dr. Motheral said, “We are proud of having built a first class service that combines comprehensive analytics with expert consultation related to the pharmacy benefit. We look forward to helping PSG secure its position as the go-to pharmacy benefit management consulting firm in the industry.”
Specialty Pharmacy Rising Costs
According to Dr. Langefeld, “Greater than 50% of the specialty pharmacy spend, the fastest growing category in terms of cost, is covered under the medical, rather than the pharmaceutical, benefit, where it frequently goes unmeasured and unmanaged. Using the Artemetrx tools and services, PSG will now be able to provide plan sponsors with a comprehensive view of their specialty pharmacy spend, and give them the tools to reduce costs and implement quality of care initiatives.”
Behavioral Health Cost Containment
Dr. Motheral pointed out that behavioral health medications rank #1 in terms of overall cost for many plan sponsors, and ensuring proper utilization of these drugs is critical for effective management of behavioral health medications as off-label drug utilization increases nationwide. Artemetrx’s unparalleled ability to provide a complete view of total medical spend, coupled with specialized clinical outreach programs, provides an effective tool for doing this.
At the core of the Artemetrx service offering is a robust proprietary data aggregation engine that combines behavioral, medical, dental, vision, lab, and prescription drug data to provide a comprehensive view of health-related utilization and expenditures. This Clinical Business Intelligence Engine transforms the standard health data into actionable information that is accessible through a web-based decision support tool. In addition, Artemetrx offers a suite of clinical intervention programs that leverage the integrated data to improve care and control costs. These programs range from pharmacy-centric programs to population health programs. Additional news and information about Artemetrx’s proprietary tools and clinical programs can be found at www.artemetrx.com.
About Pharmaceutical Strategies Group
Pharmaceutical Strategies Group, LLC (www.psgconsults.com) assists plan sponsors and other payors, Taft-Hartley Unions, large employers, and health systems in designing, implementing, and managing programs that maximize the value and impact of pharmaceuticals in their population. The strategies employed by PSG consultants allow plan sponsors to gain control over their pharmacy benefit spend, facilitate population health management, and position their programs to successfully negotiate the pharmacy benefit challenges of the future.