DETROIT, Oct. 16, 2023 – Blue Care Network’s Price Edge, a service that automatically finds the lowest price available on medications when members fill their prescriptions, has reached $1 million in total member savings in just four months.
The Price Edge program is one component of Blue Care Network’s ongoing efforts to help manage skyrocketing drug costs. Like coupon or travel apps that search and find the best deals, Price Edge scans and compares direct-to-consumer pricing with insurance pricing to give the best available price to members on select non-specialty, generic drugs. Price Edge works with both retail and mail order pharmacies and is being offered to Blue Care Network members automatically at no cost.
“We hear all the time from our members how unaffordable their prescription drugs are becoming – so we did something about it,” said Kathryn Levine, president and CEO of Blue Care Network.“We launched Price Edge to make our plans more affordable and convenient for our members. While there are hundreds of drug discount programs to help members save money, people don’t have the time and resources it takes to sort through all those programs, find the best deal and take all the steps required to obtain the discount. With Price Edge, all that work is handled for the member, automatically and in a matter of seconds.”
“Drug costs are increasing an average of 5%, a rate higher than the average wage increase. We know that the affordability of drugs can be a barrier for people to take their medications as prescribed,” said Atheer Kaddis, vice president of Pharmacy Services and chief pharmacy officer at Blue Cross Blue Shield of Michigan. “Price Edge helps Blue Care Network members keep their costs down and provides some relief whether at the cash register or online mail order. Every time they go to the pharmacy, they pay the lowest price available to Blue Care Network members for their medications, which we believe will help with adherence.”
Through Price Edge, discounts on medications will be automatically searched for and applied. If a drug is covered by the member’s plan, the amount the member pays for the drug will be applied toward their deductible and out-of-pocket maximum balance.
Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company, provides health benefits to nearly 5.2 million members. The company is committed to delivering affordable health care products through a broad variety of plans for businesses and individuals. Based in Detroit since 1939, BCBSM supports impactful community initiatives and provides leadership in improving health care across Michigan. BCBSM is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit bcbsm.com and MiBluesPerspectives.com.