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Optum Rx alone delivers many tens of billions of dollars in savings annually versus the pricing set by the manufacturers, including on the GLP-1s. That sharply reduces the gap versus other countries.
Optum was formed as a subsidiary of UnitedHealth Group in 2011 by merging UnitedHealth Group’s existing pharmacy and care delivery services into the single Optum brand, comprising three main businesses: OptumHealth, OptumInsight and OptumRx. [2] In 2017, Optum accounted for 44 percent of UnitedHealth Group's profits. [3]
As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024. [6]
The new model, Optum Rx Clear Trend Guarantee, will provide value-based pricing of drugs per member combining the cost of these medicines from various sources such as retail pharmacy, home ...
Cardinal Health said on Monday its contracts with UnitedHealth Group's OptumRx, one of its largest customers, will not be renewed after they expire at the end of June, sending the drug distributor ...
The Federal Trade Commission alleges CVS Health’s Caremark Rx, Cigna’s Express Scripts and United Health Group’s OptumRx created a system that prioritizes high rebates from drug ...
Catamaran Corporation (formerly SXC Health Solutions) is the former name of a company that now operates within UnitedHealth Group's OptumRX division (since July 2015). It sells pharmacy benefit management and medical record keeping services to businesses in the United States [3] and to a broad client portfolio, including health plans and employers. [4]
UnitedHealth Group originated in late 1974, when Minnesota-based Charter Med Incorporated was founded by Richard Taylor Burke.It originally processed claims for doctors at the Hennepin County Medical Society. [5]