Prescription spend is one of the largest and fastest-growing cost drivers for employers.
These pharmacy expenditures are nearly 18% of total healthcare spend. As prescription drug costs continue to increase, itâ€™s important to understand the lack of transparency associated with these costs.
How Can An Employer Mitigate Their Prescription Spend on Specialty Drug Costs?
Cost Sharing Initiatives
Moving specialty drug cost share to a coinsurance level is becoming a prevalent best practice.
Drug Access Controls
Pre-authorization and medical necessity protocols enhance efficiency and control costs.
Get connected with a specialty pharmacy benefit manager (PBM). PBMs can maximize coupon values and leverage financial assistance availability.
The point of service can drive thousands of dollars in savings on individual patients. Home infusion options are less costly than an outpatient center.
RX Plan Design
Use a specialty drug tier in the plan design to require greater cost-sharing by employees.
Use a preferred network of pharmacies to help lower costs.
Pharmacy Consulting Services Include:
- Financial Analysis of Rx Pricing
- Providing Rx Pricing Strategies
- Evaluating Pharmacy Benefit Managers
- Specialty Drug Program Reviews
- Leverage Programs that Provide Financial Assistance
- Transparent Pricing that includes 100% of all Rx Rebates