Who owns Express Scripts?

Who owns Express Scripts?

Express Scripts is an American healthcare company that operates as a pharmacy benefit management and retail pharmacy company. The company was established in 1986 and has since grown to be one of the largest pharmacy benefit management companies in the United States.

In March 2018, Express Scripts was acquired by healthcare insurer Cigna Corporation. Cigna paid $67 billion for the acquisition, making it one of the largest healthcare mergers in history.

What is Express Scripts?

Express Scripts is a healthcare company that operates as a pharmacy benefit management and retail pharmacy company. The company works with health plans, employers, and government programs to provide prescription drug benefits to individuals. They also offer mail-order pharmacy services and specialty pharmacy services for the management of chronic diseases.

Who founded Express Scripts?

Express Scripts was founded in 1986 by Len Greer, who was then serving as the president of Primerica Health Network, and Bill Osborn, who was then serving as vice president of corporate planning and development at the same company. The company was initially called Interstate Pharmacy Services, Inc.

What is pharmacy benefit management?

Pharmacy benefit management (PBM) is the process of managing prescription drug benefits for health plans, employers, government programs, and other organizations. PBMs work to negotiate prices with drug manufacturers and pharmacy networks, manage formularies, monitor drug utilization patterns, and implement cost-containment strategies.

How does Express Scripts make money?

Express Scripts makes money by managing prescription drug benefits for health plans, employers, government programs, and other organizations. The company earns revenue from fees for services such as drug utilization reviews, formulary management, mail-order pharmacy services, and specialty pharmacy services. Express Scripts also earns revenue from rebates and discounts negotiated with drug manufacturers and pharmacy networks.

What is Cigna Corporation?

Cigna Corporation is a global health services company that offers a range of health insurance and related products and services. The company provides health insurance, dental insurance, disability insurance, life insurance, and wellness programs to individuals and employers. Cigna also offers pharmacy benefit management services through its subsidiary company, Express Scripts.

Why did Cigna acquire Express Scripts?

Cigna acquired Express Scripts to expand its healthcare services business and to improve its ability to compete in the rapidly changing healthcare market. The acquisition allows Cigna to offer a more integrated approach to healthcare by combining medical, behavioral, and pharmacy benefits. The company hopes that this will lead to better health outcomes and cost savings for its customers.

What will happen to Express Scripts under Cigna?

Under Cigna, Express Scripts will continue to operate as a separate subsidiary to manage pharmacy benefits for customers. However, the two companies will work together to offer integrated healthcare services that combine medical, behavioral, and pharmacy benefits. Express Scripts will also continue to operate its mail-order pharmacy and specialty pharmacy businesses.

Will Express Scripts be rebranded as Cigna?

Express Scripts will not be rebranded as Cigna. The two companies will maintain separate brands and identities, but will work together to offer integrated healthcare services that combine medical, behavioral, and pharmacy benefits.

What impact will the acquisition have on the healthcare industry?

The acquisition of Express Scripts by Cigna is expected to have a significant impact on the healthcare industry. By offering integrated healthcare services that combine medical, behavioral, and pharmacy benefits, the two companies hope to improve health outcomes and reduce costs for customers. The acquisition may also lead to further consolidation in the healthcare industry as other companies seek to strengthen their positions in the market.

What has been the reaction to the acquisition?

The reaction to the acquisition has been mixed. Some industry experts have praised the move as a way to improve the quality and affordability of healthcare services, while others have expressed concerns about the potential for reduced competition and higher costs for consumers.

What are some potential benefits of the acquisition?

Some potential benefits of the acquisition include improved health outcomes, greater transparency and accountability in the healthcare industry, increased efficiency and cost savings, and a more integrated approach to healthcare services.

What are some potential risks of the acquisition?

Some potential risks of the acquisition include reduced competition, higher costs for consumers, reduced choice of healthcare providers, and increased market power for the combined company.

What is the future of pharmacy benefit management?

The future of pharmacy benefit management is uncertain. The industry is facing increasing pressure to reduce costs, improve transparency, and demonstrate value to customers. As a result, there may be further consolidation in the industry as companies seek to strengthen their positions in the market and offer more integrated healthcare services.

What role will technology play in the future of pharmacy benefit management?

Technology is expected to play a significant role in the future of pharmacy benefit management. Advances in data analytics, artificial intelligence, and digital health are likely to result in more personalized and efficient healthcare services. PBMs will also need to adapt to changing consumer expectations for greater convenience and transparency in healthcare.

What is the outlook for the healthcare industry?

The outlook for the healthcare industry is uncertain. The industry is facing a number of challenges, including rising costs, increasing consumer demand for more personalized and transparent healthcare services, and regulatory uncertainty. However, there are also opportunities for innovation and growth, particularly in areas such as digital health, telemedicine, and population health management.