Prime Therapeutics
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| Prime Therapeutics | |
|---|---|
| Type | Limited Liability Corporation |
| Founded | 1998 created by a merger |
| Headquarters | Eagan, Minnesota |
| Key people | Timothy F. Dickman, President and CEO and Kim Mageau , Vice President and COO |
| Industry | Pharmacy Benefit Management |
| Products | Mail Order Pharmacy and Claim Adjudication |
| Revenue | N/A |
| Operating income | N/A |
| Net income | N/A |
| Employees | 800-1,000 |
| Parent | Health Care Service Corporation, Blue Cross Blue Shield of Minnesota, Blue Cross Blue Shield of Nebraska, Blue Cross Blue Shield of Kansas , Blue Cross Blue Shield of North Dakota , Blue Cross Blue Shield of Florida , Blue Cross Blue Shield of Wyoming and Wellmark Blue Cross Blue Shield |
| Subsidiaries | Prime Mail Pharmacy |
| Website | www.primetherapeutics.com, www.myrxhealth.com , www.myrxassistant.com |
| N/A | |
Prime Therapeutics LLC is a Pharmacy Benefit Manager (PBM) headquartered in Eagan, Minnesota and is owned by Several Blue Cross Blue Shield Health Plans which has two contact centers in Omaha, Nebraska and Irving, Texas and two mail order pharmacies in Irving, Texas, Albuquerque, New Mexico and offices in Chicago, Illinois and Jacksonville, Florida.
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Prime Therapeutics is the largest privately held PBM in the United States who stakeholders are Health Care Service Corporation, Blue Cross Blue Shield of Minnesota, Blue Cross Blue Shield of Nebraska, Blue Cross Blue Shield of Kansas , Blue Cross Blue Shield of North Dakota , Blue Cross Blue Shield of Florida , Blue Cross Blue Shield of Wyoming and Wellmark Blue Cross Blue Shield. Its Major Competition comes from companies such as CVS Caremark Corporation , Medco Health Solutions , Express Scripts Incorporated, PharmaCare which is owned by CVS/Caremark and Walgreens Health Service which is a wholly owned subsidiary of Walgreens.
Prime is also one of the reigional processors for Medicare Part D for the Blue Cross Plans that own it for HISC ( a subsidiary for health Care Service Corporation) the Northern Plains Alliance (BCBS of Minnesota, North Dakota, Noridian a BCBSND Company, Nebraska, Wellmark, Wyoming and Montana) and Blue Cross Blue Shield of Florida. With BCBS Minnesota it also includes South Country Health Alliance, PrimeWest Health System , State Sponsored Health Plan called Pre-Paid Health and First Plan of Minnesota.
Prime Therapeutics was created by the consolidation of Pharmacy Gold , Inc. (BCBS Minnesota) and ProPar Services (BCBS Nebraska) afetr working together with each other for years. When Pharmacies process claims for these two BCBS Plans they will see Minnesota as either Pharmacy Gold/Goldnet and Nebraska as Propar.
Prime Therapuetics is the largest privately held PBM who doesn't own and operate any chain pharmacy stores so there isn't any conflict of interest or a compromise in its integrity to transform the pharmacy industry as a whole. The only pharmacies the company operates are two mail order phamacies. One facility is located in Irving, Texas (a suburb of Dallas, Texas ) near the famed Las Colinas Community and the other facility is located on the Northwestern end of Albuquerque, New Mexico. Prime is also in the process of opening a Specialty Pharmacy in Saint Paul, Minnesota. This will compete with CVS Caremark Specialty Pharmacy Services, McKesson and Fairview Health Services which is the specialty pharmacy operating at the University of Minnesota.
