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With prescription drug spending in the U.S. hitting $335 billion in 2018 and prescription drugs expected to be the fastest growing health category over the next 10 years, any action aimed at lowering drug prices should be applauded. However, time will tell if the President’s actions will pay off as intended.
Drugs used to treat chronic conditions are being tried on coronavirus patients; CVS wants to ensure there’s enough to go around.
The healthcare company’s PBM designed a plan to ensure diabetics have access to medication without increasing employer costs.
The consulting firm partnered with an analytic company to help employers monitor the costs of specialty medications and opioid use in their health plans.
As medication costs continue to rise, employers should implement these strategies to mitigate the financial burden of pharmaceutical prices.
A state-run generic drug program would allow buyers to pool their bargaining power.
Understanding how to choose a pharmacy benefit manager can be beneficial for lowering prescription drug costs.
From 2007 to 2017, consumer costs for prescription drugs grew 40% — to $333 billion. Pharmacy benefit managers can help mitigate this kind of growth if insurers understand how to assess various PBM types effectively.
Before mergers are finalized and carriers begin implementing new underwriting rules and changes, it may be a challenge for mid-market clients to customize their prescription program.
Alex Azar says plans with higher deductibles "should incentivize patients to choose care options with more competitive prices.”
Before mergers are finalized and carriers begin implementing new underwriting rules and changes, it may be a challenge for mid-market employers to customize their prescription program.
The administration’s proposal would be a boon for employers and employees — and bring actual drug costs into the light.
The administration’s proposal would be a boon for employers and employees — and bring actual drug costs into the light.
The Trump administration’s new prescription drug proposal is vital to correct an increasingly dysfunctional market for employer plan sponsors.
Those new to Medicare may not realize they need to buy a separate policy to cover prescription drugs. There are some partial exceptions, but even in those cases, coverage can vary.
HHS' Alex Azar told lawmakers that it may be time to eliminate the complex system of rebates that drug companies and pharmacy-benefit managers use to negotiate and set prices.
The changing dynamics of carrier competition, the effect of insurance M&A on the market and influence on prescription drug availability are all ways employer-based healthcare may be impacted.
Plans covering expensive prescriptions can now offer employees a kit designed to determine if the drugs they are taking are really helping or hurting them and propose alternatives.
Executive action allows for expanded access to telemedicine services, including remote prescribing of medicine commonly used for substance abuse or mental health treatment.
Employers cite managing this category of drugs as their top expense-containment strategy for the coming plan year.
