Coventry Looks to Gain Market Share with New Medicare Part D Products

Company Targeting the Medicare Stand-Alone Segment with 2012 Products, According to New Report from HealthLeaders-InterStudy

NASHVILLE--(BUSINESS WIRE)-- HealthLeaders-InterStudy, a leading provider of managed care market intelligence, reports that Coventry Health Care seeks to become a major player in the Medicare Part D business through its new slate of products for 2012. Two of the three new Coventry Medicare Part D products have no deductibles, a key differentiator that may attract large numbers of seniors, according to the National MCO Analyzer: Coventry.

Coventry is marketing a new suite of stand-alone Medicare Part D plans nationwide that use Walmart, Target and Walgreen’s pharmacies as its network.

“This network-based Part D Plan distinguishes itself with a zero copay for Tier 1 drugs,” said HealthLeaders-InterStudy Principal Analyst Paula Wade, who noted that the higher drug tiers have significant cost-sharing. “The product will likely appeal to seniors who want first-dollar coverage of generics, but are confident they won’t need drugs on the plan’s higher tiers.”

According to the report, Coventry can offer copay-free Tier 1 drugs by pricing Tiers 2, 3, 4, and 5 largely with coinsurance rather than copayments.

“If these new Medicare products are successful, they will drive up Coventry’s drug purchasing clout,” said Ms. Wade.

The National MCO Analyzer: Coventry will answer the following questions:

  • How does Coventry's regional commercial footprint distinguish it from other national carriers?
  • Where is the company growing/not growing/likely to expand?
  • How does its Medicaid strategy tie in with its Commercial market strategy and the creation of the health exchanges?

You can view an abstract of this report here: http://hl-isy.com/Products-and-Services/National-MCO-Analyzer/MCO-Abstracts/2011/Coventry-Health-Care

About National MCO Analyzer

National MCO Analyzer is the account manager’s tool for in-depth analysis of national MCO strategies, opportunities and challenges. Profiling the country’s 14 largest managed care organizations, each series includes:

  • Product mix and offerings
  • Benefit reductions and cost sharing
  • Focus on outcomes and integration of care
  • Mergers, acquisitions and partnerships

About HealthLeaders-InterStudy

HealthLeaders-InterStudy, a Decision Resources Group company, is the authoritative source for managed care data, analysis and news. For more information, please visit www.HL-ISY.com.

About Decision Resources Group

Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.decisionresourcesgroup.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.



CONTACT:

HealthLeaders-InterStudy
Kristi Guillemette, 781-993-2618
[email protected]
or
Decision Resources Group
Elizabeth Marshall, 781-993-2563
[email protected]

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