Coventry, Medco want to lower costs for seniors

Health insurance companies and pharmacy benefits managers trying to save money for customers? As odd as it sounds, it appears that New Jersey-based PBM Medco Health Solutions and Maryland-based health insurer Coventry Health Care will try to do just that. The companies announced today that they will conduct a study to try to lower healthcare costs for senior citizens. 

The study--which will include roughly 2,150 seniors in the St. Louis and Kansas City, Mo., areas who use the Advantra Medicare Advantage Plan--will attempt to lower hospitalization rates for those seniors by figuring out which ones are most likely to end up in the hospital in the first place, and working with their doctors and other agencies on a regular basis. 

"Clearly a different approach is needed to address the factors that lead to hospitalizations in high-risk patient populations," said Allen Wise, Coventry Health Care CEO. "We are hopeful that a more hands-on and integrated care model will prove to be far more effective in addressing the issues that affect patient health and preventing serious medical problems that require hospitalization." 

To learn more about this joint effort:
- check out the press release