ISLS and OutcomeRx Partner to Expand Access to Cell & Gene Therapies
PORTLAND, Maine—Full service Managing General Underwriter (MGU), Innovative Stop Loss Solutions (ISLS), and insurance management services provider, OutcomeRx, have partnered on a new initiative that aims to expand access to cell and gene therapy (CGT) treatments amid rising healthcare costs.
OutcomeRx offers employers seeking to include CGT in employee health benefits packages cost-effective coverage for breakthrough treatments and avoidance of catastrophic claims through a simple per employee per month (PEPM) model. Enrollees benefit from comprehensive financial protection in the form of first-dollar coverage, reduced future laser liability, and mitigated stop loss renewal increases. They also benefit from access to integrated care, which includes credentialed Centers of Excellence, complete therapy and administration, as well as connection with patient navigators with rare disease experience. Employer clients of ISLS are eligible to enroll in the OutcomeRx program at a preferred rate.
“We are thrilled to partner with OutcomeRx to offer comprehensive cell and gene therapy coverage,” said Peter Parent, President of ISLS. “This collaboration not only ensures access to advanced therapies but also provides significant cost-saving benefits. By integrating this coverage, we aim to help our clients save on renewal costs and reduce the need for lasers on catastrophic claims. Together, we are delivering a first-class solution that addresses both the clinical and financial challenges of cell and gene therapies.”
The initiative coincides with an increase in the number of Federal Drug Administration (FDA)-approved CGT products on the market. CGTs accounted for 10% of all U.S. FDA novel approvals in 2023, up from 7% and 6% in 2022 and 2021, respectively. The trend shows no sign of slowing, as based on the current pipeline, the FDA predicts it will approve [2]
Whereas the rise of CGT presents new options for patients, associated costs can pose new challenges for employers struggling in[3]
It’s a struggle that ISLS, which provides MGU services for employer clients pursuing alternative health benefits funding solutions, is familiar with.
“Our team is dedicated to helping employers find sustainable solutions to rising healthcare costs, which stand to skyrocket with the rise of cell and gene therapies. ISLS is proud to partner with OutcomeRx to expand patients’ access to groundbreaking treatments and help employers who enroll in this program manage the cost of providing employee health benefits,” said Josh Levine, Vice President of Business Development at ISLS.
Joe Morse, CEO of OutcomeRx added, “Together, we are helping ISLS’s employer clients achieve the trifecta of improved access, cost, and quality for cell and gene therapies. We look forward to advancing our partnership with this shared vision and mission.”
About ISLS
Innovative Stop Loss Solutions (ISLS) is a full-service Managing General Underwriter (MGU) based in Portland, ME. Specializing in tailored stop-loss insurance solutions, ISLS offers comprehensive risk assessment, competitive capacity, and innovative insurance structures to meet the unique needs of its clients. With a commitment to partnership, innovation, and excellence, ISLS is dedicated to delivering top-notch solutions that drive stability and growth for businesses in the stop-loss insurance sector. For more information about ISLS and its services, please visit www.getisls.com.
About Outcome Rx
OutcomeRx is accelerating patient access to CGT therapies through its reinsurance coverage and therapy warranty solutions. We strive to provide our clients with premier underwriting, actuarial, and clinical resources so that patients have seamless connections to top care facilities for novel cell and gene-based therapies. For more information about OutcomeRx and its solutions, please visit www.outcomerx.com.