The RE Marketplace established with four founding health plans representing nearly 2.5 million lives.
Each plan and its beneficiaries get immediate access to contracts for all biotech drugs in the Marketplace.
FLORHAM PARK, N.J., Dec. 09, 2020 (GLOBE NEWSWIRE) -- Real Endpoints (RE), a leading advisory and analytics firm focused on market access, today announced the launch of RE Marketplace, a platform that dramatically increases the efficiency and reach of value-based contracting for drugs for rare and orphan disease, providing significant benefits for patients, payers and manufacturers.
The first-of-its-kind platform speeds the availability of rare-disease drugs to millions of members in mid-sized and smaller health plans. It does so via value-based contracts, to which these plans generally don’t have access.
The founding members are four regional health plans, representing nearly 2.5 million beneficiaries. More plans are expected to join in the next several months.
RE Marketplace provides each plan access to value-based agreements through a single contract for all participating biotech drugs – while the biopharmaceutical manufacturers enjoy rapid contracted access to previously hard-to-reach plan members.
Using the medical and pharmacy claims data from the RE Marketplace member health plans, Real Endpoints and its academic partner, the University of Colorado Anschutz Medical Campus, perform the critical analytics and financial reconciliation, using a highly robust, secure, HIPAA-compliant system already tested and used in multiple value-based agreements.
“Many biotechs don’t have the arms and legs to get to the several hundred smaller plans – and therefore don’t have access to the tens of million lives not represented by the large payers,” says Jeff Berkowitz, CEO of Real Endpoints. “Even if patients in those plans do eventually get the drug, the months-long delays in coverage are harmful to patients – while delaying revenue for biotechs. RE Marketplace helps solves both problems.”
Adds Jane Barlow, MD, MPH, RE’s EVP and Chief Clinical Officer, “Smaller payers often lack the resources to create and manage value-based agreements for rare and orphan drugs. That shortchanges these plans’ beneficiaries – and the plans themselves, which have vastly diminished access to contractual arrangements available to the larger payers.”
Moreover, adds Berkowitz, for biotechs who are seeing increasing competition in rare-disease categories, “RE Marketplace provides an important way to differentiate their products – faster delivery to patients and a payer-and-patient friendly policy in which the biotech shares risk with the insurer and the beneficiary.”
About Real Endpoints
Real Endpoints solutions create access for patients to meaningful medical innovations and prepare companies for competition in the value-based economy. Working collaboratively with payers, diagnostic companies, and biopharmas on their most complicated coverage and access challenges, RE provides often unique answers, including the evaluation, structuring, negotiating, and third-party management of the analytics and financial reconciliation of value-based contracts. For more information about Real Endpoints, visit www.realendpoints.com.
Contact: Nazo Ahmed
Email: nahmed@realendpoints.com
Phone: 973-805-2300