ARCHIMEDES RECEIVES 2023 BEST IN BUSINESS AWARD
Nashville, TN, MONDAY, MAY 24, 2023 – Archimedes, a recognized leader in specialty drug management solutions, announced that they have been honored with the 2023 Best in Business Award by the Nashville Business Journal. This award is a testament to the growing marketplace need for effective solutions to manage the growing cost of specialty drugs.
The alarming rate of growth in the cost and total spend for specialty medications in the United States has become a major concern for employers of all sizes. The statistics are troubling: The price of new specialty drugs is averaging more than $220,000 per user annually and can exceed $2 million a year for certain conditions, and the overall specialty drug spend has been growing 12%-20% annually.
Archimedes’ specialty drug management solutions are delivering significant savings for employers while ensuring quality patient care. Archimedes’ clients are seeing reductions in specialty spend ranging from 30-50% in the first year following the program and are providing sustained lower spend over multiple years.
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Archimedes is the industry leader in specialty drug management solutions. Founded with the goal of transforming the PBM industry to provide the necessary ingredients for the sustainability of the prescription drug benefit – alignment, value and transparency – Archimedes achieves superior results for clients by eliminating tightly held PBM conflicts of interest including drug spread, rebate retention and pharmacy ownership and delivering the most rigorous clinical management at the lowest net cost.
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