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VENTEGRA ANNOUNCES ITS MEDICAL BENEFIT MANAGER (MBM) PHARMACY SERVICES ADMINISTRATION (PSA) CONTRACTS TOP 100; HELPS CLIENTS GAIN EFFICIENCIES, IMPROVE QUALITY OF CARE, AND LOWER COSTS
Ventegra Celebrates 7 Years as the First New Class-of-Trade Created in the Last 40 Years - Designation Recognized by Pharma
GLENDALE, CA –Ventegra, Inc., a Medical Benefit Manager (MBM), which includes a Pharmacy Services Administration (PSA) program, today announces that its roster of MBM clients has topped 100, greatly fortifying Ventegra leadership as both the first and largest U.S.-based, legally recognized and configured MBM in the nation.
Ventegra CEO Robert T. Taketomo, Pharm D, MBA, says, "We are proud that Ventegra is recognized by the pharmaceutical industry as the first entity operating with an MBM business model. Ventegra's MBM new class-of-trade designation allows the industry to work with Ventegra in ways that are separate and distinct from traditional PBMs and GPOs and consistent with various regulatory safe harbors."
A crucial cornerstone of this industry shift is that the MBM business model enables all drugs to be covered under a single integrated healthcare benefit vs separate billing for medical drugs and pharmacy drugs. As a result, the model reduces fragmentation, increases integrity, integrates population health, and improves utilization management. Ventegra's MBM status ensures the delivery of innovative solutions for cost-efficient pharmaceutical services that maximize benefits for payors, providers, and patients, unlike Pharmacy Benefit Managers (PBMs) and Group Purchasing Organizations (GPOs). By using the MBM model, payors of healthcare in all market segments reap benefits that include administrative simplification, efficiencies, and increased quality of care fueled by the highest integrity and transparency standards in the marketplace. Explaining Ventegra's Medical Benefit Manager "difference," Dr. Taketomo says, "We have zero conflicts of interest unlike many PBMs that require members to use PBMowned mail order or specialty pharmacies or that move their rebate contracting operations offshore to other countries. The tremendous recognition and support by the industry and our clients to this new discount channel continues to fuel Ventegra's passion for making a meaningful difference in the health of the community that we serve."
In 2014, after extensive legal review, Ventegra received contractual designation from one of the largest pharmaceutical companies in the world as the first entity operating as an MBM, making it a new class-of-trade. The significance of this recognition is underscored by the fact that the last new class-of-trade in the industry was created over 40 years ago with the introduction of the Pharmacy Benefit Manager (PBM) class-oftrade. By December 2019, almost all Ventegra agreements had placed Ventegra into this new class-of-trade, thus representing a significant milestone in the continued evolution of healthcare delivery in the United States.
With the MBM model, clients have the assurance that they will have access to discounts that may be unavailable to other current classes-of-trade such as PBMs and GPOs. The MBM PSA solution can deliver all the functionality of a PBM with more integrity, transparency, and significant cost savings, while improving overall quality of care. For instance, with our patented Acquisition Cost Index, the amount billed by pharmacies is reflected and verifiable in the invoice detail paid by the payor, rather than being simply 'passed through' before adding ancillary charges.
Dr. Taketomo uses the analogy of an electric car to illustrate the MBM model. "Like the comparison between an electric engine and a traditional gas engine, Ventegra can power the same solution as a PBM, but we do it more efficiently and ethically by being patient-focused rather than being driven by fiduciary obligations to shareholders."# #
About Ventegra, Inc.
Ventegra uses innovative and proprietary programs and products to ensure appropriate use of prescription drugs while lowering our clients' costs. As a Medical Benefit Manager (MBM), Ventegra is a new class-of-trade healthcare model that helps clients gain efficiencies, lower expenditures, and improve the overall quality of care. Ventegra's offerings include innovative, cost-saving solutions designed for medical groups, health systems, self-insured plans, TPAs, government entities, brokers, consultants, and nonprofits. www.ventegra.com