Steve Avey Named Vice President of Sales for RegenceRx
PORTLAND, Ore. – RegenceRx President David Clark is proud to announce the appointment of Steve Avey, R.Ph. to Vice President of Sales for RegenceRx, a national not-for-profit pharmacy benefit management service. In this role, Steve will be responsible for growing the company’s business nationally and identifying new opportunities for expanding RegenceRx’s products and services to a broader membership base. RegenceRx successfully manages pharmacy benefits for more than 2.2 million members in Regence’s service area, and provides clinical and contracting support for more than 3.8 million members from other plans nationwide.
“We are pleased to welcome such a recognized industry leader into this role,” said Clark. “I believe Steve’s extensive experience in leading sales and operations for pharmacy benefit management companies, combined with his published work in numerous scientific journals and leadership roles with the Academy of Managed Care Pharmacy will prove invaluable in serving our members.”
Before moving to RegenceRx, Steve held several leadership roles in the pharmacy benefit management industry, including four years leading sales and operations at Prospective Health, the pharmacy benefit management division of McKesson Drug, Inc. Most recently, he served as vice president of Sales and Managed Care for Partners Rx Management. Prior to that, he served as the executive director for the Foundation for Managed Care Pharmacy (FMCP) for six years. In 2005, the FMCP lifetime achievement award was renamed the Steven G. Avey Award in recognition of his contributions to quality improvement efforts in managed care pharmacy and improving the assessment of new medications for formulary inclusion by Pharmacy & Therapeutics Committees.
Steve served in a variety of leadership roles with the Academy of Managed Care Pharmacy, culminating with his service as President of the AMCP from 1998 – 1999. He has had numerous works published in the Journal of Managed Care Pharmacy. Steve earned a master’s degree in pharmacy administration and a Bachelor of Science in Pharmacy, both from the University of Utah.
In 2000, the continuously rising cost of prescription drugs caused Regence, a not-for-profit company, to create its own in-house Pharmacy Benefit Management (PBM) function for its four affiliate Blue Cross and/or Blue Shield Plans. The mission of RegenceRx is to ensure that members have affordable coverage for prescription medications. The PBM is distinguished by its focus on clinical evidence to build its list of preferred medications. Since the formation of RegenceRx, the cost of managing drug benefits has dropped. Dollars gained through the use of RegenceRx are used to help keep the cost of health coverage as low as possible, and the focus of RegenceRx on lower net costs has saved Regence and its customers more than $1billion since 2000.