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The new independent company Evio is funded by five nonprofit Blue Cross Blue Shield plans
Evio, a new independent pharmacy solutions startup, is working to advance drug affordability and patients’ clinical outcomes and medication experiences. Five not-for-profit, Blue Cross Blue Shield (BCBS) plans have come to the forefront, and each is providing funding to support the launch of this new endeavor. The plans—Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Michigan, Blue Shield of California, Highmark Inc. and Independence Blue Cross—in total provide coverage to more than 20 million members across the US.
The startup will begin by providing services to each of the five investor health plans to complement other medication services that the health plans offer. Part of Evio’s focus areas consists of using evidence and data from real patient experiences to make sure that the proper medication gets to patients, where, when and how they need it; developing new, and enhancing existing, partnerships that encompass the innovation happening in the today’s pharma and healthcare, technology and analytics industries; and continuing the evolution toward value-based care and outcomes-based contracting in the pharma space, especially when it comes to high-cost drugs.
“Evio has a real opportunity to change the trajectory of pharmacy costs, improve clinical outcomes and make it easier for patients to access the medications and treatments they need,” says Sandra Clarke, Evio board chair and CFO of Blue Shield California. “We are investing in this innovative venture as part of our ongoing efforts to reduce costs and improve patient experience, and we will continue working alongside our local providers to achieve these goals.”