Express Scripts tells health plan clients not to worry over tie-up with competitor
The company uses its leverage to negotiate discounts on prescription drugs for its clients and
However, that stand-alone title will soon be erased as
This week Cigna said it will acquire north
However, there is some concern about whether its health plans will bristle over the fact that
Currently, health plans represent one-quarter of
"While the PBMs have firewalls in place between the PBM and other areas of their business, some health plans have expressed discomfort with these arrangements," according to an analyst note from Goldman Sachs.
But Wentworth was adamant that nothing will change when the company combines with Cigna.
"We have a long history at
Even if some health plans are uncomfortable with the tie-up, they may find there are few places to take their business. The nation's largest PBMs are now part of a health insurance company.
Late last year, drugstore chain giant CVS said it was buying insurer
Some analysts say the concern about health plans leaving
"Realistically there is no viable choice given all existing large PBMs have either walked down the aisle with an MCO or been spawned by one," Leerink analyst
Wentworth said Thursday he would begin calling on his health plan clients. He said he had already received some positive emails about the deal.
"Particularly for the health plans we serve, I want to be clear that our strong relationships that we have do not change, and we see great opportunities in how our expanded healthcare services business will help health plans win and grow," he said.
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