Pharmaceutical Strategies Group (PSG), an EPIC company, announced an enhancement of its data and analytics platform, Artemetrx®, which will significantly enhance clients’ ability to track and report on the adoption of biosimilar medications. Artemetrx is the leading integrated pharmacy and medical claims platform and is utilized by health plans, pharmacy benefit managers, and employers for drug cost management.
While biosimilars have been available in the market since 2015, in recent years there has been greater availability of these lower-cost alternatives to specialty drugs. The new enhancements to Artemetrx have particular importance given the impending availability of biosimilar medications for inflammatory disorders in 2023. The inflammatory category is often the most expensive in terms of drug plan costs and Artemetrx is well-positioned to empower its clients’ biosimilar optimization strategies.
The new features include a biosimilar report that monitors claims utilization for innovator versus biosimilar drugs. It also includes the ability to easily analyze robust utilization metrics for biosimilars and innovators and offers a visualization of the utilization trends over time. Overall, the Artemetrx platform drives measurable financial results through a sophisticated, integrated pharmacy and medical claims dataset. Its web-based solutions provide dashboards, reports, and tools that deliver transparency and actionable interventions to improve pharmacy benefit plan program performance for 29 million integrated lives. In 2021 alone, Artemetrx was responsible for saving PSG clients $6.7B.
"Artemetrx already had powerful insights to enable the measurement and management of medication utilization for both pharmacy and medical drugs. We have enhanced these capabilities to improve the tracking and reporting of biosimilars as they continue to gain momentum in the market," commented Rebekah Gregg, Chief Product Officer, PSG.
Furthermore, Renee Rayburg, RPh with PSG noted, “with the impending introduction of biosimilars for Humira expected in 2023, we wanted to provide our clients with essential reporting and analytics tools to help them manage biosimilars. These new capabilities are designed to enable users to monitor changes and measure the effectiveness of their biosimilar strategy."
Request a demo to experience how Artemetrx can help maximize a biosimilar strategy by visiting: https://www.psgconsults.com/discoverartemetrx/
For further information on biosimilars, download the just-released Artemetrx 2022 State of Specialty Spend and Trend Report here: https://www.psgconsults.com/specialtyreport2022. The report provides more information on the ways in which biosimilars and specialty generics are showing promising results in reducing specialty drug spend.
About Pharmaceutical Strategies Group (PSG)
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG’s innovative drug management solutions, including the proprietary data and analytics platform, Artemetrx®, deliver actionable insights with exceptional financial and clinical value. PSG functions as a strategic partner through industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year. https://www.psgconsults.com/
About Artemetrx®
Artemetrx is a proprietary SaaS platform developed by PSG, an EPIC company. As one of the first technology solutions in the market to integrate pharmacy and medical claims data for specialty drug cost management, Artemetrx continues to provide market-leading specialty drug insights to payers. It delivers unparalleled intelligence and line-of-sight into serious challenges perpetuating out-of-control drug costs and compromised patient outcomes. https://www.psgconsults.com/discoverartemetrx
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