EGK uses the Lyfegen platform to handle complex pricing models of on- and off-label use of more than 80 drugs
BASEL, Switzerland, 29 November 2022 /PRNewswire/ — Lyvegena global health technology SaaS company driving the world’s transition from volume-based to value-based healthcare for high-cost drugs, today announced that EGK-Gesundheitskasse is joining its portfolio of insurer partners to efficiently execute all of their value-based pricing contracts for high-cost drugs, safe and transparent.
Switzerlandwith the fourth highest pharmaceutical spend per capita, spent CHF 8 billion (8.1 billion euros) on medicines prescribed for specific diseases in the first nine months of 2022. In an effort to combat the high drug spending, Switzerland has implemented an increasing number of discount models for on- and off-label drug use over the past five years. While the intention is to ensure accessibility for patients at sustainable prices, the complexity of the pricing models results in millions being spent by insurers to monitor and assess the pricing models, resulting in an estimated CHF two– up to three-digit million series of missed rebates.
Lyfegen’s software enables EGK to identify and claim rebates from 141 drug pricing models with 32 manufacturers, with minimal effort and maximum transparency. This includes cases of rare or chronic diseases, promising therapies that can be used outside the approved indication, or new drugs that are not yet available or approved in Switzerland. Lyfegen’s platform addresses the needs of Swiss health insurers for cost efficiency and digitization, helps to solve existing complexities in the system and does its best to counter high insurance premiums.
“We are delighted to support EGK and play an active role in addressing the growing complexity of drug pricing models to support sustainable access to innovative medicines and therapies in Switzerland,” said Nico Mrs, CXO and co-founder of Lyfegen. “By focusing on making the implementation of the platform as easy as possible and responsive to EGK, we were able to quickly deliver results and kick off the collaboration to a successful start!
“With the Lyfegen Platform, EGK further expands its focus on sustainability and efficiency for the benefit of our policyholders,” said Carolina Pirelli, Head of Benefits and Deputy CEO at EGK. “The ever-increasing number of pricing models for medications poses challenges for insurance companies in terms of resources and processes. With the automated processing of pricing models through the Lyfegen platform, we are able to perfectly meet our current needs and with Lyfegen’s flexibility, focus and with understanding, we see ourselves in good hands.”
Lyfegen is a global health technology SaaS analytics company that provides a value-based agreement platform for medicines, therapies and devices. Health insurance, pharmaceutical, medical companies and hospitals consistently use the secure platform for thousands of payment models Switzerland, Europethe middle east and North America. The Lyfegen platform supports the negotiation and automated execution of value-based payment models cost-effectively and at scale using real-world data and machine learning. Globally renowned health insurance, hospital, pharmaceutical and medical companies have already implemented Lyfegen’s patent-pending platform to scale value-based payment models for medicines, therapies and devices, improving access to treatments and patient outcomes.
Lyfegen was founded by individuals with decades of experience in healthcare, pharmaceuticals and technology, pioneering the shift away from volume-based and fee-for-service healthcare to value-based healthcare. For more information, visit www.lyfegen.com.
About EGK health insurance fund
EGK-Gesundheitskasse is an SME health insurer based in Laufen (BL), Switzerland. The EGK Group consists of EGK Grundversicherungen AG (basic insurance in accordance with KVG), EGK Privatversicherungen AG (supplementary insurance in accordance with VVG) and EGK Services AG (administration). It consistently insures around 100,000 people in basic insurance Switzerland80% of them also have EGK supplementary insurance.
Naturalness and sustainability are part of EGK’s values. It is considered a pioneer in providing unlimited access to excellent complementary medicine. It launches and supports activities throughout Switzerland to strengthen health in a natural way.
GKPR for Lyfegen
SOURCE Lyfegen HealthTech AG