Magellan Rx

Magellan Rx Management operates as a pharmacy division of Prime Therapeutics LLC, following its acquisition in December 2022. The company provides specialty drug management services across pharmacy and medical benefits, clinical programs, and formulary management services. It also operates full-service specialty pharmacies and serves state government programs. The company's pharmacy solutions include prescription drug administration, specialty pharmacy operations, and prior authorization services. Through its Advocate+ specialty pharmacy care solution, Magellan Rx helps members navigate prior authorizations, access financial assistance, and address social determinants of health. The platform proactively identifies financial assistance options such as manufacturer copay cards, foundations, and social assistance programs based on insurance type and diagnosis. In September 2023, Magellan Rx implemented Inovalon's ScriptMed Cloud platform to enhance its specialty pharmacy operations, offering features like shipment tracking, refill requests, and coverage determination documentation support. Specialty medications accounted for 55% of total drug spend across the healthcare ecosystem.

Key customers and partnerships

The company serves 28 states and the District of Columbia through its state government division and manages pharmacy benefits for 1.7 million members as of December 2022. In September 2023, Magellan Rx partnered with TailorMed to leverage its technology platform for financial assistance program management. The platform provides access to over 7,000 assistance programs. In September 2023, the company also established a partnership with Inovalon for its ScriptMed Cloud platform to enhance patient care delivery.