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Healthcare's Hottest No. 37: Prime Therapeutics

By Modern Healthcare
Posted: September 28, 2013 - 12:01 am ET

What it does: Prime, owned collectively by 13 Blue Cross and Blue Shield plans, is a pharmacy benefit manager that handles patient prescription drug benefits for health plans, employers and government programs.

How it grew to become one of healthcare's hottest: Prime Therapeutics' value proposition to the approximately 23 million patients it serves worldwide—most of whom are covered by a Blue Cross and Blue Shield plan—is its price transparency and commitment to improved outcomes, says Eric Elliott, the company's president and CEO.

“The ultimate outcome is better medical experience and better health for our patients,” he says. An attractive aspect of Prime Therapeutics' offerings to prospective clients, Elliott adds, is its ability to offer a seamless transition to its benefits management system.

One of Prime's newest clients is Blue Cross and Blue Shield of North Carolina, which added another 1.5 million covered lives this year alone. As of September, Prime has processed 237 million patient claims, compared with a total of 225 million last year.

37. Prime Therapeutics

Location: Eagan, Minn.

Top executive: Eric Elliott, president and CEO

Number of employees: 2,551

Annual revenue (2012): $1.8 billion

Compounded revenue growth (2007-12): 17.5%


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