BERWYN, Pa.--(BUSINESS WIRE)--AscellaHealth, a national specialty pharmacy benefit manager (SPBMTM) serving commercial, Medicare and Medicaid segments, was ranked 6th on the Philadelphia Business Journal’s 2019 “Soaring 76” list of fastest-growing companies in greater Philadelphia region as measured by revenue over a three-year period from 2017 through 2019. The company jumped from the 14th spot last year, with specialty pharmacy management programs driving much of that growth as employers and health plans are increasingly struggling to manage costs of specialty pharmacy medications.
“We are deeply gratified to rise in the ‘Soaring 76’ ranking and count this as an outstanding achievement for our team and a testament to our loyal client base,” says Dea Belazi, president and CEO, AscellaHealth. “We owe our success to the relevant and timely value we provide to our clients. Our specialty medical pharmacy management is designed to reduce costs, increase specialty drug availability and improve patient outcomes through appropriate medication therapy management.”
Every year, the Philadelphia Business Journal ranks the fastest-growing companies in the area based on Securities and Exchange Commission filings and honors recipients at an awards event where the ranking of each company is revealed.
The Soaring 76 final list looks at revenue growth over a three-year period from 2017-2019. Specifically, the final list rank came from averaging the percent change in revenue from 2017 to 2018, and the percent change from 2018 to 2019. In order to qualify, companies had to be headquartered within Greater Philadelphia; have no parent company and have generated at least $750,000 in revenue in 2017 and at least $2 million dollars in 2019.
“This revenue boost is testimony to marketplace confidence in our business model and service portfolio, with the payer community continuing to embrace AscellaHealth’s streamlined Specialty Pharmacy model. With advanced analytics and programs, we are able to increase adherence to treatment and improve patient outcomes with the overall goal to manage the total cost of the claim,” Belazi adds, “Amid the volatility of the COVID-19 pandemic and striving to maintain optimal health for Americans, clients turn to us for medication therapy cost containment programs that have a positive impact on overall healthcare costs.”
AscellaHealth, a national specialty pharmacy benefit manager (SPBMTM), serving commercial, Medicare and Medicaid segments, offers high quality prescription drug benefit management services. Complemented by other customizable services, such as carved-out specialty pharmacy services and cost-savings programs, AscellaHealth provides a unique, proprietary service portfolio. Visit www.ascellahealth.com.