The purpose of Specialty Monitor™ is to help healthcare insurance plans better control wasteful and clinically inappropriate spending on specialty drugs through rigorous, actionable, and timely information, said Dr. Brenda Motheral.
Brentwood, TN (PRWEB) October 12, 2015
Artemetrx today announced the availability of its new Web-based software tool, Specialty Monitor™, which reflects insights gained from analyzing more than 300 million drug claims over the last four years. Designed for comprehensive specialty drug oversight across the pharmacy and medical benefits, Specialty Monitor’s innovative technology enables health plans, employers, and other plan sponsors to monitor their specialty trends and to realize potential savings opportunities.
“Our software harnesses all our knowledge and clinical insights about specialty drug management. Nothing else like it exists in the market,” said Brenda Motheral, President of Artemetrx.
Plan sponsors struggle to access comprehensive specialty spend, which is split between the medical and pharmacy benefit and has a host of unique analytic challenges. Even if data are available, applying analytics and generating actionable insights to achieve management goals are challenging.
Specialty Monitor includes an unprecedented level of specialty drug intelligence about both pharmacy and medical benefits, featuring a full suite of management analytics to identify hidden spend, pricing competitiveness by site of care, clinical appropriateness, network management opportunities, and more. For the first time, payers can quickly detect important specialty drug trends, vendor performance, and actionable savings opportunities, regardless of where the drug was administered. The tool also provides claim- and member-level analytics to support claims repricing, network optimization, and care management.
“The purpose of Specialty Monitor is to help plan sponsors better control wasteful and clinically inappropriate spending on specialty drugs through rigorous, actionable, and timely information,” said Dr. Motheral. “It also provides much-needed employer-level reporting across pharmacy and medical, which has been a notable gap in the marketplace.”
Payers can schedule a demo or learn more by visiting http://www.specialtymonitor.com.
About Artemetrx Specialty Drug Solutions
Artemetrx Specialty Drug Solutions is a national firm working with clients across the U.S. to provide advanced analytics, consulting, and management solutions to help plan sponsors better control specialty drug spending across the pharmacy and medical benefit. The company offers these services to a variety of health care organizations, payers, plan sponsors, and the members they serve. Learn more at http://www.artemetrx.com