PHILADELPHIA – May 19, 2022 – Recognized for delivering healthcare cost savings and improving health outcomes, Coriell Life Sciences (CLS) – an international leader in precision medicine and pharmacogenomics (PGx) – has been named a finalist in the 2022 Health Value Awards. Winners will be announced on May 22 in Baltimore at thINc360 – The Healthcare Innovation Congress.
Presented by Validation Institute, the Health Value Awards honor organizations whose health, benefits, or wellness programs have demonstrated proven cost-savings or improvements in health outcomes. Peer-reviewed research shows that CLS’ Corigen® Medication Safety Program does both.
The most comprehensive medication safety program on the market, Corigen enables payer organizations to measurably improve the health of their employee or member populations, streamline the delivery of care, and eliminate healthcare waste. This is achieved by providing each individual clinically relevant insight on which medications are likely to be ineffective or even harmful to them based on their unique DNA and dozens of other important factors. Using this information, individuals can work with their doctors to adjust their medication regimens and are empowered to know which drugs they should avoid throughout their lifetime.
Highlighting the program’s impact, a 32-month retrospective study of 5,288 retired teachers (age 65+) in Kentucky, who enrolled in the voluntary program through their healthcare benefits plan, revealed:
- A consistent reduction in healthcare resource utilization
Among participants, inpatient visits decreased by 14.9%, Emergency Department visits decreased by 6.8%, and outpatient visits decreased by 1.9%.
- Significant economic savings
Direct medical charges were reduced by $218.34 per member per month (approximately $7,000 per member) for a cumulative savings of $37,027,769 over 32 months.
These results are just a snapshot of one of many program implementations around the world.
“Trial-and-error prescribing is extremely costly when you consider the health risks and the needless spending that happens when people are not on the right medications for them,” explained Scott Megill, President & CEO of Coriell Life Sciences. “The good news is that with Corigen, payers now have access to a turnkey solution that drives better outcomes across the board.”
“The employers and healthcare solution providers participating in the Health Value Awards demonstrate they are not only committed to providing high-quality, value-based healthcare, but are ready to lead the industry in a new, exciting, and necessary direction,” said Benny DiCecca, CEO of Validation Institute.
About Validation Institute
Validation Institute is a membership organization made up of a network of healthcare vendors, health benefits advisors, and purchaser benefit managers focused on delivering better health value and stronger outcomes than conventional healthcare.
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