With half of the American population receiving health insurance from their jobs, there’s no doubt that employers are at the forefront of rising healthcare costs. But many employers may feel helpless in the face of industries seemingly out of their control — and the trillion-dollar pharmaceutical industry is no exception.
According to the Health Institute, over 131 million Americans use prescription drugs, but a poll by medical research organization West Health and management consulting company Gallup estimates that 18 million Americans cannot afford their prescriptions. Karthik Ganesh, CEO of pharmacy benefits management company EmpiRx Health, doesn’t find this lack of access surprising, since the volume of drugs in the market — and hence profit — has taken priority over all else.
